Tag: NFIU

Alleged Coup: Number of detained military officers rises to 42

Aminu Imam
Army redeploys

…As EFCC, NFIU probe suspected funders The on-going investigation into the alleged coup attempt against the administration of President Bola Ahmed Tinubu has deepened, with the number of detained military officers rising from 16 to 42, even as the Economic and Financial Crimes Commission (EFCC) and the Nigeria Financial Intelligence Unit (NFIU) have joined the probe to trace suspected funding channels behind the plot. Security sources told newsmen that the detained officers are currently being interrogated to determine their level of involvement and the extent of the alleged conspiracy. “So…

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S’Court dismisses States govs. suit challenging constitutionality of EFCC, ICPC, NFIU Acts

Aminu Imam
S'Court dismisses

The Supreme Court, on Friday, dismissed the suit instituted by 16 States of the federation against the Attorney-General of the Federation (AGF), challenging the constitutionality of the acts establishing the Economic and Financial Crimes Commission, (EFCC) and two others. The other agencies are the Independent Corrupt Practices and other related offences Commission (ICPC), and the Nigerian Financial Intelligence Unit, (NFIU). A 7-member Justices, in a unanimous judgment, held that the suit was unmeritorious. In the lead judgment by Justice Uwani Abba-Aji, the Supreme Court resolved the six issues raised for…

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Leaked terroristsfinanciers list sparkscontroversy, as NFIU disowns memo

Aminu Imam

Controversy has arisen around the list of terror financiers purportedly leaked by the Nigerian Financial Intelligence Unit (NFIU) and reported on Wednesday. ?According to reports on Wednesday, the Federal Government had uncovered the identity of 15 entities, including nine individuals and six Bureaus De Changes, (BDCs), allegedly involved in terrorism financing. It said details of the development were revealed by the NFIU, in an email sent on Tuesday night, titled: Designation of Individuals and Entities for March 18, 2024. It indicated that the document revealed that the Nigeria Sanctions Committee…

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State Govts. open security vote accounts with CBN – NFIU

Aminu Imam

Governors will henceforth draw their security votes from the Central Bank of Nigeria (CBN). The development followed the agreement reached earlier in the year between the 36 State governors and the Nigerian Financial Intelligence Unit, (NFIU). With the agreement, the governments in the States were mandated to open dedicated accounts for their governors security votes with the apex bank. The opening of such accounts will enable the NFIU to monitor cash withdrawals for security purposes by the governors. Amid mounting concerns from Nigerians, regarding alleged withholding of cash palliatives, the…

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Banks set to stop cash withdrawal by States, Councils, Missions, others

Aminu Imam

The guidelines barring State Governors, Ministers, Foreign missions and other public servants from making cash withdrawals from public accounts will come into effect from today. Banks have notified their customers about the directive, and urged them to use digital channels. A source at the Nigerian Financial Intelligence Unit, (NFIU), said the agency was in touch with 167 countries through the ESW a secured network in which all the 167 Egmont group member countries share information. It was gathered that the 167 countries are now on the lookout for any governor,…

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NFIU prohibits cash withdrawals from public accounts

Aminu Imam

The Nigeria Financial Intelligence Unit (NFIU) has banned all banks from executing demands for cash withdrawals from all public accounts, effective March 1, 2023. NFIU Director-General, Modibbo Tukur, who disclosed this to newsmen at a conference in Abuja yesterday, said the Agency will trigger investigation processes on any public office holder who engages in cash transactions after the end of February this year. He said the NFIU will collaborate with the Economic and Financial Crimes Commission, (EFCC), the Independent Corrupt Practices Commission, (ICPC), and the Nigeria Police Force, (NPF) in…

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