Senate concurs with Reps, passes NFIU bill

.We passed bill to save Nigeria from embarrassment – Saraki

Consequent upon the passage of the Nigerian Financial Intelligence Agency Bill 2018 by the House of Representatives on Monday, the Senate on Wednesday passed the Bill after adopting and approving recommendation of its Conference Committee that harmonised the reports of the two chambers.

The report presented by the chairman, Senate Committee on Anti-Corruption and Financial Crimes, Senator Chukwuka Utazi (PDP, Enugu North), received unanimous consideration without any rigorous scrutiny because of its urgency and importance to the nation’s anti-corruption drive.

Speaking on the importance of the passage of the bill, the Senate President. Bukola Saraki, said: “I hope that with this Bill that we have passed today — this Conference Report — that EGMONT will have a second view and re-admit us into the process.

“I hope on the part of the Executive, they quickly assent to this Bill and also ensure that the independence of the Financial Unit goes beyond just signing this Bill into law. It is important that we see it being practiced — this is very important. I hope on their part, this will be done so that our country stays as part of the EGMONT Group that has a lot of benefits for our fight against corruption. I thank you all, my colleagues, for how quickly you responded to this. You came quickly to save the country.”

The Senate President said the National Assembly with not delay in transmitting the Bill to President Muhammadu Buhari for his assent before the March 11, 2018 meeting of the EGMONT Group, to avoid Nigeria being expelled from the international body.

Saraki had earlier in the week expressed confidence that the Conference Committee Report on the Nigerian Financial Intelligence Unit (Bill) will be passed by both Chambers this week.

This followed his meeting last week Thursday with the Speaker, Hon. Yakubu Dogara; the Chairman of the Senate Committee on Anti-Corruption & Financial Crimes, Senator Chukwuka Utazi; and the House of Representatives Chairman on Financial Crimes, Hon. Kayode Oladele, to expedite process of the Conference Committee in seeing the NFIU Bill through.

Nigeria was suspended from the EGMONT Group which is a network of 152 member countries that share information relating to criminal intelligence and financial information because of failure to meet up with the conditions of the group, one of which is to make the NFIU an independent unit.