A Civil Society Organisation (CSO), the Media Initiative Against Injustice, Violence and Corruption-(MIIVOC) has warned that despite
assenting to the Nigeria Financial Intelligence Unit Bill by President,
Muhammadu Buhari, danger is yet to be averted for the country, reports
ITRealms.
MIIVOC Executive Director, Dr. Walter Duru who gave the
warning while addressing newsmen in Calabar, weekend however commended
President Muhammadu Buhari for assenting to the Bill, even as he praised the
National Assembly for passing same.
Speaking on what needs to be done urgently, Duru stressed
that “assenting to the NFIU Bill is a good development, but, that is not
enough. Sending the name of a fit and proper person as head of the Unit to the
National Assembly for consideration requires extreme urgency.
The National
Assembly may be going on recess in the last week of July and the President
needs to act fast in the interest of the country. Setting up of a befitting
office, with all structures, staffing and paraphernalia must be done without
delay. Having a law in place without effective implementation does not do the
country any good.”
Speaking on the implications of the new law, Duru described
the development as amounting to rekindling of hope for Nigeria’s escape from
looming international sanctions, while strengthening the country’s Anti-money
Laundering and Counter financing of terrorism regime.
According to him, “the NFIU Act establishes a legal
framework for a national center that will be responsible for the receipt of
information from financial institutions and designated non-financial
institutions, analysis of the financial information for the purpose of turning
the information into financial intelligence and dissemination of the financial
intelligence to all law enforcement agencies and other competent persons. The
Act ensures that the NFIU is not tied to any agency but will have adequate
measures to build an independent financial intelligence system.”
Continuing, Duru called on the National Assembly to urgently
pass the Proceeds of Crime, Mutual Assistance in criminal matters and Whistle
Blowers/Witness Protection Bills, as well as an updated/amended version of the
Money Laundering and Terrorism Prevention Acts, to brighten the country’s
chances of escaping the hammer of the international community.
“Remember, Nigeria remains suspended from the Egmont Group
of FIUs, meaning that the country has not been receiving external financial
intelligence since July, 2017 and this will remain in force until the
suspension is lifted. The above steps are the surest way out of the country’s
present difficult situation,” he stressed.
Uboshe Uboshe/GEE
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