Buhari signs NFIU bill into law

Buhari signs executive order on preservation of suspicious assets

President Muhammadu Buhari has signed the Nigerian Financial Intelligence Unit bill (NFIU) into law, said a senior presidential aide.

The Senior Special Assistant to the President on National Assembly Matters (Senate), Ita Enang, made this known while briefing State House correspondents on Wednesday.

Enang explained that NFIU is the Nigerian arm of the global Financial Intelligence Units (FIUs) which was before now domiciled within the Economic and Financial Crimes Commission (EFCC) as an autonomous unit and operating in Africa.

He said the NFIU seeks to comply with international standards on combating money laundering and financing of terrorism and proliferation and checking of suspicious transactions.