Posts in Nigerian financial Intelligence Unit (NFIU) related to Financial Services

The Act provides an effective, unified and comprehensive legal, regulatory and institutional framework for the prohibition, prevention, detection, prosecution and punishment of cyber crimes in Nigeria. This act also ensures the protection of critical national information infrastructure, and promotes cyber security and the protection of computer systems and… Read more

It is intended to educate, monitor and work to improve the effectiveness of reporting entities’ compliance with the requirements of the Anti-Money Laundering Prohibition Act, ML (P) A, 2011 and Prevention of Terrorism Act (PTA), 2011.

Following the latest FATF public statement, the Nigerian Financial Intelligence Unit (NFIU) is issuing this advisory as a medium to inform all financial institutions in Nigeria to be cautious, apply increased scrutiny and enhanced due diligence in establishing business relationships with entities or individuals and or conducting financial… Read more

In line with the Financial Action Task Force (FATF) public statement issued on 24th October 2014 related to jurisdictions with strategic deficiencies in their AML/CFT regime that pose a risk to the international financial system, the NFIU wishes to advise all financial institutions operating in Nigeria to apply… Read more

In line with the NFIU’s mandate as the central coordinating agency on all AML/CFT activities in Nigeria and in response to the FATF recommendation 2 on National cooperation and coordination which, requires countries to cooperate, and, where appropriate, coordinate domestically with each other concerning the development and implementation… Read more

The Senate has commenced the process of granting autonomy to the Nigeria Financial Intelligence Unit [NFIU] which is presently domiciled in the Economic and Financial Crimes Commission [EFCC] with the passage of the bill for Second Reading. The Senate initiative is in response to the recent suspension of Nigeria from… Read more

Concerns that the various anti-corruption agencies are at loggerheads have been severally denied by the agencies concerned. But the perceived loss of steam in the anti-graft war, and recent events between the Attorney General of the Federation (AGF), Abubakar Malami (SAN) and the chairman of the Economic and Financial Crimes… Read more

The Financial Action Task Force (FATF) has threatened to suspend its high-level mission visit to Nigeria scheduled for November 20-21 2017 should the country fail to meet the demands of the Egmont Group of Financial Intelligence Units (FIUs).

The meeting was slated as a fact-finding mission to enable FATF determine whether… Read more