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Senate Passes Financial Intelligence Unit Bill

The Economic and Financial Crimes Commission(EFCC) may be stripped of its powers to investigate financial crime offenders if the President eventually gives his assents to the amendment of the Nigerian Financial Intelligence Unit (NFIU) bill passed by the Senate yesterday.

The bill was passed after it was read for the third time by the lawmakers but without the usual public hearing organized to consider opinions of concerned parties on the matter.

The Senate says the bill was given accelerated consideration to help Nigeria avoid expulsion from the Egmont group of Financial Intelligence unit.

 

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