The bill is sponsored by Utazi Chukwuka, a lawmaker representing Enugu south.

After the introduction of the bill at plenary on Thursday, July 20, 2017, Senate President, Bukola Saraki directed the rules and business committee, to slate it for second reading next week so that legalisation can be passed soonest.

TheCable had reported that the anti-graft war of the Buhari administration was in jeopardy over the suspension of Nigeria from the Egmont Group.

Following the development, the upper legislative chamber, on Wednesday resolved to create a law for an independent Nigerian Financial Intelligence Unit (NFIU) with powers to employ, promote and discipline it staff.

The Senate also called on the executive to send a budget for the NFIU before the end of the year.

Utazi who had moved the motion noted that Nigeria was suspended from Egmont Group because the NFIU was not autonomous.

He also said the interference of Ibrahim Magu, acting chairman of the Economic and Financial Crimes Commission (EFCC), in the affairs of the NFIU is another reason Nigeria was suspended.