
Receiving the report, submitted by Senator Chukwuka Utazi, Chairman, Senate Committee on Financial Crimes and Anti-Corruption, Deputy President of the Senate, Mr Ike Ekweremadu, said there was need to expedite action on it.
The Senate on Wednesday approved the conference committee report on a bill that will grant autonomy to Nigerian Financial Intelligence Unit (NFIU).
A meeting between Senate President Bukola Saraki and Speaker, House of Representatives, Yakubu Dogara, mandated the two lawmakers to meet and conclude work on the conference report.
To stop Nigeria's expulsion from the EGMONT Group, the Senate has passed the Report of the Nigerian Financial Intelligence Unit (NFIU) Bill awaiting assention by the executive.
This followed the consideration of clauses of the harmonised report by the Senate and House of Representatives Committees on Financial Crimes and Anti-Corruption.
The EFCC act had designated the commission as the destination for the NFIU, a position the Egmont group rejected because it would compromise the utmost secrecy under which financial intelligence units operate globally. This means Nigerians will be unable to carry out foreign transactions.
The EGMONT Group is a network of 152-member countries that share information relating to criminal intelligence and financial information.
The bill also provides that the head of the unit should be called a director and that the appointment of the director should be subject to Senate confirmation.
Nigeria risked being expelled by the Egmont Group if the bill wasn't passed earlier.
Nigeria has been in the eye of the storm since it was suspended by the Egmont group in July 2017, following its failure to pass a law guaranteeing the independence of the financial intelligence unit. I hope that by passing the conference report, they will have a second view and re-admit us.
"It is important that we see it being practiced - this is very important".
Gary Oldman's Son Defends His Dad Against Abuse Allegations
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Hot Stock's Alert - TD Ameritrade Holding Corporation (NASDAQ: AMTD) The stock has a market capitalization of $32,578.33, a price-to-earnings ratio of 32.81, a P/E/G ratio of 0.94 and a beta of 1.42. Keefe Bruyette & Woods maintained TD Ameritrade Holding Corporation (NASDAQ: AMTD ) on Wednesday, January 10 with "Hold" rating.
Marine F-35Bs Arrive on USS Wasp for First Shipboard Deployment Additionally, the F-35B has the option of equipping a gun and opening it up as a close-air-support platform to support Marines making a beach landing.
FDx Advisors Inc. Lowers Stake in Adobe Systems Incorporated (NASDAQ:ADBE) Following the transaction, the executive vice president now owns 50,497 shares of the company's stock, valued at $8,761,229.50. It increased, as 42 investors sold ADBE shares while 327 reduced holdings. 97 funds opened positions while 312 raised stakes.
Fire department reminds residents to replace batteries in smoke alarms
Market Size Forecast: United States Overall Size, By Type/Product Category, By Applications/End Users, By Regions/Geography. Useful research findings, conclusions and data sources used to gather information about Carbon Monoxide Alarms industry.
Arsene Wenger retains his humour despite Arsenal's terrible form
It is a good opportunity to show we can deal with that and as well, on the longer term, it will make the team even stronger". It doesn't matter what's going on outside, we need to stay together like a team'.
Champions League Last 16 Second Legs: Betting Odds & Offers
The last time Liverpool reached the Champions League quarter-finals in 2009, Rafa Benitez was still in charge, but they have flitted in and out of European football's premier club competition since then.
Ripple-Powered Mobile App to Provide On-Demand Payments in Japan
The cost of upgrading the current system to a 24×7 payment processing facility will be high and that is where Ripple stands apart. MoneyTap will have the potential to provide on-demand payments to the vast majority of the country through this consortium.
United States high school shooter indicted, face death penalty
He appeared to be "coherent" during the chat, according to a deputy who noted, "inmate was also observed smiling and giggling". He's been jailed since the February 14 massacre at Marjory Stoneman Douglas High School, where he was once a student.
Kinder Morgan Inc (NYSE:KMI) Shorted Shares Increased By 18.97%
It is a positive indicator for investor portfolio value - when the price of a stock Investor owns goes up in value. This means that the higher growth rate of KMI implies a greater potential for capital appreciation over the years.
Shubhankar gets special invitation for Masters
Shubhankar has won twice in the past four months, at the Joburg Open in December and the Maybank Championship in February. I couldnt find my golf clubs, asked someone and they pointed me in the right direction.
Petroleo Brasileiro SA Petrobras (PBR) Earning Somewhat Positive Press Coverage, Accern Reports As of now, Petroleo Brasileiro S.A. - Petrobras has a P/S, P/E and P/B values of 1.11, 38.37 and 1.11 respectively. It is a positive indicator for investor portfolio value - when the price of a stock Investor owns goes up in value.