The NFIA bill was introduced to the Senate by the Senator Utazi Chukwuka on Thursday, July 20, 2017.

The bill seeks amongst other things to create a substantive and autonomous Nigerian Financial Intelligence Agency following the country’s suspension from the EGMONT Group.

When this bill becomes law, the Nigerian Financial Intelligence Unit (NFIU) would seize to exist under the Economic and Financial Crimes Commission (EFCC).

The bill scaled second reading and was referred to the committee on anti-corruption plenary on Tuesday, July 25, 2017.