Commitment To Support The Fight Against Corruption – Senate President Bukola Saraki

Today, in-line with our commitment to support the fight against corruption through legislation, we passed the Report of the Nigerian Financial Intelligence Unit (NFIU).

Many of you will remember that late last year, the Senate raised the alarm over Nigeria’s suspension from the EGMONT Group -- based on the lack of independence of the NFIU as currently established.

This is why, both chambers of parliament swung into action to ensure that our current suspension, does not turn into an eventual expulsion.

Hence, today’s passage of the Conference Committee Report of the Bill is aimed at ensuring that we comply with international best practices, so that we will be able to access the financial intelligence data of the EGMONT Group.

Moving forward, it is my hope that the Executive quickly assents to this Bill. Additionally, it is important that beyond the establishment of the law, Nigeria’s Financial Intelligence Unit will truly be independent.