Nigerian Financial Intelligence Unit (NFIU), yesterday, declared that from March 1, public servants, including governors, would be committed to prison if they make withdrawals above the threshold set by the Central Bank of Nigeria (CBN).
A Senior Advocate of Nigeria (SAN), Chief Sebastine Hon, has clarified that the Federal Government lacks Constitutional powers to restrict withdrawals from the bank accounts of the state and local governments as proposed by the Nigeria Financial Intelligence Unit (NFIU).
Continued from Yesterday One recent event would demonstrate the main reason why State Governors seek to dominate and control local governments. This is the suit instituted by the Governors through the Governors’ Forum and the Attorneys-General of the States against the guidelines issued by the Nigerian Financial Intelligence Unit (NFIU) on cash withdrawal from local…
To boost the fight against money laundering, terrorism financing and proliferation financing, the Nigeria Security and Civil Defence Corps, (NSCDC), has partnered with the Nigerian Financial Intelligence Unit, (NFIU), the Economic and Financial Crimes Commission, (EFCC), and the Independent Corrupt Practices Commission, (ICPC), to track proceeds of crude oil theft.
Determined to curb money laundering in the real estate sector, the Nigerian Financial Intelligence Unit (NFIU) and the Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON), have agreed to forge an enduring partnership.
9 Aug 2022
The claim by the Federal Government that it is doing much to investigate, find, and ostensibly prosecute financiers of Boko Haram terrorists (and hopefully similar groups) rings hollow in the face of the daily reality...
24 May 2022
Justice Inyang Ekwo of the Federal High Court, Abuja, yesterday, dismissed a suit filed by Attorneys-General (AGs) of the 36 states (AGs) and the Nigeria Governors’ Forum (NGF) opposing the Nigerian Financial Intelligence Unit’s (NFIU) guidelines on local government spending.
9 Feb 2022
The Standards Organisation of Nigeria (SON) has brokered a partnership with the Nigerian Financial Intelligence Unit (NFIU) to tackle the menace of fake products in the country.
3 Feb 2022
The Nigerian government on Thursday said it has uncovered 96 financiers of terrorist groups Boko Haram and the Islamic State of West Africa Province (ISWAP). Nigeria's information and culture minister Lai Mohammed made the disclosure at a press conference in Abuja. READ MORE: Tension as U.S. moves to name Boko Haram sponsors "Nigerian Financial Intelligence…
7 Dec 2021
The Federal Government has denied a report by the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) alluding that the Islamic State in West Africa Province (ISWAP) was laundering N18 billion through Nigeria’s financial system to deepen terrorism.
3 Nov 2021
Chairman of the Independent Corrupt Practices and other related Offences Commission (ICPC), Prof. Bolaji Owasanoye, has called on West African countries to collaborate against money laundering and terrorism financing currently posing both political...
9 Sep 2021
The Nigerian Financial Intelligence Unit (NFIU) has called for effective regulation of non-governmental organisations (NGOs) to check illicit financial flows (IFFs) and terrorism financing in the country.