Obasanjo seeks review of EFCC Act
From Tsokar Karls, Abuja
PRESIDENT Olusegun Obasanjo on Wednesday forwarded to the National Assembly a bill to establish an intelligent unit to track and unveil unlawful financial activities.
The Special Adviser to the President on National Assembly Matters, Senator Florence Ita-Giwa, said the bill, requesting the amendment of the Economic and Financial Crimes Commission (Establishment) Act of 2004, seeks to establish the Nigeria Financial Intelligence Unit (NFIU), which will be an autonomous unit of the commission.
According to the Ita-giwa, the proposed NFIU is to act as the central body in Nigeria that will be responsible for receiving, requesting, analysing and disseminating financial and other information to all law enforcement agencies and other appropriate authorities.
While forwarding the bill, the special adviser said the document would, among other things, issue to financial institutions and designated non-financial institutions such guidelines to combat money laundering and terrorists' financing activities.
