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BREAKING: Buhari Signs NFIU Act, Separates It From EFCC

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President Muhammadu Buhari has signed into law the Nigerian Financial Intelligence Unit (NFIU) Act.

The Act makes NFIU fully independent and separate from the Economic and Financial Crimes Commission [EFCC].

NFIU is the Nigerian arm of the global financial intelligence Units (FIUs) domiciled within the EFCC as an autonomous unit and operating in the African Region.

The NFIU seeks to comply with international standards on combating Money Laundering and Financing of Terrorism and proliferation.

More details will follow…

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