SAN FRANCISCO, July 27, (THEWILL) – The Upper Chamber of the National Assembly has passed the Nigeria Intelligence Financial Agency, NFIA bill which strips the Economic and Financial Crimes Commission, EFCC, of control over the nation’s financial intelligence unit.
The NFIA bill, which was passed during day’s plenary after it was read for the third time, did not pass through the usual public hearing, organised to consider opinions of concerned parties on a subject.
The bill was, on Tuesday, referred to the committee on anti-corruption, which turned in its report on Wednesday culminating in its passage on Thursday.
The Senate explained that the bill was given accelerated consideration to help Nigeria avoid expulsion from the Egmont Group of financial intelligence units, which had suspended the country over absence of legal framework that guarantees independence of the Nigeria’s unit.
The next stage is for the bill now to also be passed by the House of Representatives, and signed into law by the President, or vetoed by the lawmakers in an event it was rejected by the Executive.
