• About
  • Advertise
  • Careers
  • Contact
Friday, July 18, 2025
  • Login
No Result
View All Result
NEWSLETTER
Reporters At Large
  • Home
  • News
    • World
    • For The Record
    • Metro
    • Opinion
    • Press Releases
  • Business
    • Auto Trend
  • Politics
  • Tourism
  • Lifestyle
    • People & Events
    • Health
  • RAL TV
    • Video
    • Video News
  • More
    • Advertisement
    • Privacy
    • Disclaimer
    • Contact Us
  • Home
  • News
    • World
    • For The Record
    • Metro
    • Opinion
    • Press Releases
  • Business
    • Auto Trend
  • Politics
  • Tourism
  • Lifestyle
    • People & Events
    • Health
  • RAL TV
    • Video
    • Video News
  • More
    • Advertisement
    • Privacy
    • Disclaimer
    • Contact Us
No Result
View All Result
Reporters At Large
No Result
View All Result
Home Featured

Senate Passes NFIA Bill, Limits EFCC’s Powers

by ReportersAtLarge
July 2, 2017
in Featured, News
Reading Time: 2 mins read
0
Share on WhatsappShare on FacebookShare on TwitterShare on Linkedin

THE Senate has passed the bill to establish to the Nigerian Financial Intelligence Agency, thereby executing the first step moving out the country’s financial intelligence unit out of the control of the Economic and Financial Crimes Commission (EFCC).

The bill was passed after it was read for the third time today, just the fourth legislative day since it was first initiated last Thursday.

The bill was earlier referred to the committee on anti-corruption on Tuesday. However, without the usual public hearing, organised to consider opinions of concerned parties on any public related 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 it over the absence of a legal framework that guarantees the independence of the Nigerian 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.

RelatedPosts

Kano University Tops The List As JAMB Uncovers Over 9,000 Illegal Admissions In Nigerian Tertiary Institutions

Donald Trump Suffering From Chronic Vein Condition, White House Confirms

OPC Leader Mourns Buhari, Awujale, Calls for Improved Healthcare And Cultural Preservation

It would also be recalled that on the day the Senate made moves to separate the two entities, the acting chairman of the EFCC, Ibrahim Magu, inaugurated a committee to ‘reposition the unit.’

Different from the Senate’s position, which is total independence, Mr. Magu prefers a financial intelligence unit that will be “expressly autonomous”, but remains within the anti-graft agency.

At the moment, the NFIU helps tackle money laundering and monitor financial flows, task eased by its membership of the Egmont Group whose members share intelligence relating to international finance and illicit flow.

But, according to the Senate, the financial intelligence outfit’s continued existence under the EFCC without separate statutory status will affect the confidentiality and utilisation of the information it receives, its operations in terms of compelling compliance from regulators; and power to task security agencies to act on intelligence it receives.

These are the concerns that formed the background of Nigeria’s suspension from the Egmont group, the Senate insists.

It expressed belief the new bill for the independence of the intelligence unit would lead to the reversal of the suspension.

The lawmakers and the EFCC chairman have had a stormy relationship over the last few weeks over the unwillingness of the presidency to relieve Mr. Magu of his job after two rejections of his confirmation by the Senators.

The lawmakers are citing unfavourable security reports for the rejection while the presidency insists Mr. Magu is the man for the job.

Tags: DemocracyEFCCNigerian LawSenate
SendShareTweetShare
ReportersAtLarge

ReportersAtLarge

Reporters At Large is the world’s fastest-growing online news platform and public service broadcaster. We’re impartial and independent, and every day we create distinctive, world-class programmes and content which inform, educate and entertain millions of people in Nigeria and around the world.

More

JAMB Registrar, Prof. Ish-aq Oloyede
News

Kano University Tops The List As JAMB Uncovers Over 9,000 Illegal Admissions In Nigerian Tertiary Institutions

by ReportersAtLarge
July 17, 2025
0

The Joint Admissions and Matriculation Board (JAMB) has flagged 9,469 admissions across 20 tertiary institutions in Nigeria in the 2024...

Read moreDetails
Donald Trump disqualified from the 2024 US Election
WorldNews

Donald Trump Suffering From Chronic Vein Condition, White House Confirms

by ReportersAtLarge
July 17, 2025
0

Donald Trump is suffering from a chronic vein condition, the White House announced on Thursday, after days of speculation regarding...

Read moreDetails
News

OPC Leader Mourns Buhari, Awujale, Calls for Improved Healthcare And Cultural Preservation

by ReportersAtLarge
July 17, 2025
0

A National Leader of the Oodua People's Congress (OPC), Comrade Adesina Akinpelu, has expressed his condolences to the people of Daura,...

Read moreDetails
Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Donnald Trump Oval Office

U.S. Election: Trump Breaks Silence, Says ‘This Was A Stolen Election, Democrats Are Thieves’

5 years ago
Sibongile Sambo pioneering aviation entrepreneur

Meet The Bold South African Woman Rejected As Flight Attendant Who Started Her Own Airline Company

2 years ago

Popular News

  • JAMB Registrar, Prof. Ish-aq Oloyede

    Kano University Tops The List As JAMB Uncovers Over 9,000 Illegal Admissions In Nigerian Tertiary Institutions

    0 shares
    Share 0 Tweet 0
  • Donald Trump Suffering From Chronic Vein Condition, White House Confirms

    0 shares
    Share 0 Tweet 0
  • Sean Dampte Addresses Low Voter Turnout in Lagos LG Elections

    0 shares
    Share 0 Tweet 0
  • OPC Leader Mourns Buhari, Awujale, Calls for Improved Healthcare And Cultural Preservation

    0 shares
    Share 0 Tweet 0
  • Why Traditional Institutions Must Be Integrated Into Nigeria’s Devt Systems – Makinde

    0 shares
    Share 0 Tweet 0

Connect with us

ADVERTISEMENT

About Us

Reporters At Large is the world’s fastest-growing online news platform and public service broadcaster. We’re impartial and independent, and every day we create distinctive, world-class programmes and content which inform, educate and entertain millions of people in Nigeria and around the world.

With a high level of professionalism, fairness, objectivity, accuracy and speed, we publish Breaking News Nigeria Today Headlines and International news on Politics, Tourism and Travel, Entertainment, Sports, Business Lifestyle and Sports.

Category

  • Auto Trend
  • Breaking Bones
  • Business
  • Columns
  • Entertainment
  • Featured
  • For The Record
  • Health
  • Innovation
  • Lifestyle
  • Metro
  • News
  • Opinion
  • People & Events
  • Politics
  • Press Releases
  • Science & Technology
  • Sponsored
  • Sport
  • Tourism & Culture
  • Video
  • Video News
  • WorldNews

Recent Posts

  • Sean Dampte Addresses Low Voter Turnout in Lagos LG Elections July 18, 2025
  • Kano University Tops The List As JAMB Uncovers Over 9,000 Illegal Admissions In Nigerian Tertiary Institutions July 17, 2025
  • Donald Trump Suffering From Chronic Vein Condition, White House Confirms July 17, 2025
  • OPC Leader Mourns Buhari, Awujale, Calls for Improved Healthcare And Cultural Preservation July 17, 2025
  • Why Traditional Institutions Must Be Integrated Into Nigeria’s Devt Systems – Makinde July 16, 2025
July 2017
SMTWTFS
 1
2345678
9101112131415
16171819202122
23242526272829
3031 
« Jun   Aug »
  • Home
  • News
  • Business
  • Politics
  • Tourism
  • Lifestyle
  • RAL TV
  • More

© 2016-2024 RAL - Guided by professionalism

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
    • World
    • For The Record
    • Metro
    • Opinion
    • Press Releases
  • Business
    • Auto Trend
  • Politics
  • Tourism
  • Lifestyle
    • People & Events
    • Health
  • RAL TV
    • Video
    • Video News
  • More
    • Advertisement
    • Privacy
    • Disclaimer
    • Contact Us

© 2016-2024 RAL - Guided by professionalism

Verified by MonsterInsights