The Senate on Thursday passed the bill establishing the Nigerian Financial Intelligence Agency (NFIA), thus implementing the first step in pulling Nigerian Financial Intelligence Unit (NFIU) out of the control of the Economic and Financial Crimes Commission (EFCC). The bill was passed after it was read for the third time on Thursday, just the fourth legislative day since it was first initiated last Thursday.
The bill was referred to the committee on anti-corruption on Tuesday, but without the usual public hearing organised to consider opinions of concerned parties on the subject, the report of the committee was presented on Wednesday and the bill passed on Thursday.
The Senate said the bill was given accelerated consideration to help Nigeria avoid expulsion from the Egmont Group of Financial Intelligence Units, which had suspended the country over absence of legal framework that guarantees independence of the Nigeria’s unit. For the bill to become law, it has to be passed by the House of Representatives, and signed into law by the President or vetoed by the lawmakers.
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