#nfiu

Governors to know fate May 23 in suit challenging regulation of LG spending

A Federal High Court (FHC), Abuja, on Wednesday, fixed May 23 for judgment in a suit filed by the 36 states’ Attorneys-General challenging the Nigerian Financial Intelligence Unit (NFIU) from implementing its guidelines on local government spending. Justice Inyang Ekwo fixed the date after counsel to the parties in the suit presented their arguments and adopted their processes. The News Agency of…

FG disputes alleged N18b terrorism funding by ISWAP

ISWAP •HURIWA alleges lax oversight of regulator by Buhari The Federal Government has denied a report by the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) alluding that the Islamic State in West Africa Province (ISWAP) was laundering N18 billion through Nigeria’s financial system to deepen terrorism. The Nigerian Financial Intelligence Unit (NFIU), which reacted…

EFCC witness insists Adoke’s $2.2m loan repayment transparent

A witness called yesterday by the Economic and Financial Crimes Commission (EFCC), Mr Rislanudeen Mohammed, told the Federal High Court, Abuja, that the $2.2 million transactions in respect of the liquidation of a loan obtained by former Attorney General of the Federation (AGF) and Minister of Justice, Mr Bello Adoke (SAN), was transparent.

The witness, a former acting managing director, Unity…

Alleged N300m diversion: Kwara constitutes eight man-panel to probe LG funds

The Kwara State government has constituted a panel of inquiry to investigate the federal allocations accruing to the 16 local government areas of the state and their share of the internally generated revenue from May 29, 2019 till date.

Governor AbdulRahman AbdulRazaq, apparently, instituted the panel following allegations of diversion of N300million meant for local governments in the state.

A…

NFIU Seeks Reduction Of CBN N1tn Annual Budget

The Nigeria Financial Intelligence Unit (NFIU) is requesting a reduction in the annual one trillion naira central bank budget.

The agency is also requesting that salaries of operatives of the agency be captured as a sub-head under the total budget of the CBN.

The director and chief executive officer of the Nigeria Financial Intelligence Unit, Moddibo Tukur made the request during the agency’s…

NFIU Doesn’t Need To Write Banks For Account Details

NFIU Doesn’t Need To Write Banks For Account Details

NFIU Doesn’t Need To Write Banks For Account Details

The attention of the Nigerian Financial Intelligence Unit (NFIU), has been drawn to media reports stating that the unit has requested banks to furnish it with the account details of principal officers of the National Assembly and the Judiciary. Such reports are not true,

In line with…

Internet Scams: NFIU reversing financial transactions of 77 Nigerians arrested in US

Some of the 77 Nigerians arrested for internet scams in the US

The Nigerian Financial Intelligence Unit (NFIU) has started reversing some of the financial transactions of some 77 Nigerians arrested by the United States’ Federal Bureau of Investigations (FBI) for internet fraud last week.

According to Thisday, Director of NFIU, Mr. Modibbo Hamman-Tukur, disclosed this on Tuesday in Abuja during…