Ebun Francis || The Economic and Financial Crime Commission, EFCC on Wednesday announced that Nigeria Financial Intelligence Unit (NFIU) has been separated from the Economic and Financial Crimes Commission (EFCC).
The acting chairman of the EFCC, Ibrahim Magu made the disclosure when he appeared before the Senate committee on anti-corruption and financial crimes to defend the agency’s 2018 budget proposal.
According to the Acting EFCC boss, NFIU would begin to operate as an independent organisation from January 1, 2018.
He said, “We have allowed NFIU to go. They are operationally autonomy independent of EFCC.”
“We have given them financial autonomy. We presented a proposal of N2.9 billion for the takeoff of the agency in the 2018 budget, but the budget office proposed N800 million.
“They will start operating as an independent unit from January 1, 2018.”
It will be recalled that the Egmont Group, a global body which provides the backbone for monitoring international money laundering activities with representatives from 156 countries, suspended Nigeria for failure of the federal government to pass a law making NFIU autonomous.
The Senate has since passed the enabling law.