Breaking: NFIU Bill ‘Goes’ To Senate, House Of Reps For Adoption Today

The Nigerian Financial Intelligence Unit Bill will on Tuesday (today) be laid before the two chambers of the National Assembly, according to The Eagle Online report.

It was gathered that work was concluded on the Bill on Monday night by the Conference Committee of both the Senate and House of Representatives.

Those present at the meeting included the Chairman of the Senate Committee on Financial and Economic Crimes, Senator Godfrey Chukwuka Utazi, and his House of Representatives counterpart, Hon. Kayode Oladele.

According to informed sources, the Bill, as presented by Oladele to the House and the Conference Committee, has been adopted wholesale except for two clauses.

One has to do with where the NFIU will be domiciled.

While Oladele proposed that it should be domiciled within the Economic and Financial Crimes Commission, it was eventually agreed that the Central Bank of Nigeria should be given the responsibility.

The other area is the process for the confirmation of the Director of the CBN.

The two chambers are about to commence sitting.

For the House, The Eagle Online gathered that it would be the first issue for consideration this morning.