The Nigerian Senate on Wednesday approved the inclusion of the National Financial Intelligence Unit (NFIU) to serve on the governing board of the Proceed of Crimes Recovery and Management Agency (PCRMA).
In a sponsored motion by the Senate leader, Ahmed Lawan, he said the NFIU, which is an anti-corruption entity, would play a fundamental role in the agency.
The Proceed of Crimes Recovery and Management Agency bill was passed into law recently and awaiting harmonization by the conference committee.
In the passed bill, NFIU was not on the governing board despite its strategic role as an anti-corruption outfit, a situation that prompted the Senate to reconsider its earlier stand.
Lawan observed that “after critical examination of the bill, some fundamental issues which require fresh legislative action on clause 5 occasioned by the establishment of the Nigeria Financial Intelligence Unit (NFIU) which was not contemplated in the Proceed of Crimes Recovery and Management Agency bill was noticed.
“Aware that the Nigeria Financial Intelligence Unit as an anti-corruption entity will play a fundamental role in the operation of the Proceed of Crimes Recovery and Management Agency. ”
Senator Lawan further argued that the inclusion would be in line with global best practices, hence, Nigeria cannot be an exception.
The inclusion of the clause was sustained as proposed at the Committee of the whole, by the Senate President, Dr Bukola Saraki.