The Senate on Wednesday approved the conference committee report on a bill that will grant autonomy to Nigerian Financial Intelligence Unit.
This followed the consideration of clauses of the harmonised report by the Senate and House of Representatives Committees on Financial Crimes and Anti-Corruption.
Seeking the support of the senate to adopt the report, Senator Chukwuka Utazi, Chairman, Senate Committee on Financial Crimes and Anti-Corruption, said that NFIU would serve as a central body responsible for receiving, requesting and analysing financial intelligence reports.
According to him, the unit will also disseminate financial intelligence reports to security enforcement and intelligence agencies and other relevant authorities.
Utazi said: “The Bill was passed by the senate in July 27, 2017 and in the House of Representatives in November 29, 2017.
“There were differences in what the two committees passed, a conference committee was therefore constituted to reconcile and harmonise the differences.
“So the report recommends that the Senate do consider and approve this conference committee report on a Bill for an Act to establish Nigerian Financial Intelligence Unit.’’
Contributing, Senator Foster Ogola emphasised the importance of the bill and the need to expedite action on it.
Ogola said: “Being a conference report I do not think we need any further debate knowing the importance of the NFIU to the economy and the well-being of Nigeria and its relationship with the global financial intelligence committee.”
The President of the Senate, Dr Bukola Saraki, expressed concern that Nigeria’s suspension from the EGMONT Group had some consequences.
Saraki said: “Our suspension form the EGMONT Group has a lot of ramifications. I hope that by passing the conference report, they will have a second view and re-admit us.
“And I hope the executive will quickly assent to this bill and also ensure that the independence of the NFIU goes beyond signing into law.
“Seeing it being practiced is also important so that our country stays as part of the EGMONT Group and continues to enjoy lots of benefits.’’
Trending
- The Okuama Dead: Story behind the grief, by Azu Ishiekwene
- New study reveals only one in 10 global workers have in-demand AI skills
- Man, 27, arraigned for allegedly raping a 20-year-old woman
- Couple jailed four months each for criminal breach of trust
- Court quashes Dabe’s suit, awards Ojukwu’s will to Bianca
- Breaking: Secondus, Sekibo, others declare support for Tinubu, Fubara
- Access Holdings Plc reports strong FY2023 financial performance
- Husk Power closes $20m in financing from EIB to scale in Nigeria