The Senate on Wednesday, resolved to pass a law that would make the Nigerian Financial Intelligence Unit (NFIU), independent of the Economic and Financial Crimes Commission (EFCC).
The NFIU is currently an arm of the EFCC.
The resolution was taken during plenary on Wednesday. The senators based their decision on the reported suspension of the NFIU from the global group of Egmont Group of Financial Intelligence Units.
NIFU was suspended from the Egmont Group over Nigeria’s failure to provide legal framework that will make the NFIU autonomous.
NFIU helps tackle money laundering and monitor financial flows, locally and internationally. The Egmont Group members share intelligence relating to international finance and illicit flow.
Senate President Bukola Saraki said the country “must make sure that the suspension is lifted, the earlier we get it lifted the better it is for our image,” as it is a setback in the fight against corruption.