Business
Senate Passes Financial Intelligence Agency Bill
The Senate has passed the Nigerian Fmanclal lntelligence Agency Bill as a central body in Nigeria responsible for receiving, requesting, analysing and disseminating financial intelligence reports and other information to law enforcement agencies.
This followed the consideration of the report of the Committee on Anti-Corruption and Financial Crimes presented to the Senate by its chairman, Sen. Chukwuka Utazi during plenary.
The BIll, which was only read for the first time on Thursday July 20, passed second readmg on Tuesday and was approved by the upper legislative chamber on Thursday, exactly one week after.
With the passage of the Bill, the risk of Nigeria being expelled from the Egmont Group has been reduced by half as the bill is just waiting for presidential assent to become law.
The Egmont Group is a network of national financial intelligence units and the highest intergovernmental association of intelligence agencies in the world, with 154 member countries including Britain and the U.S.
Nigeria is currently serving a suspension from the group arising from the non-establishment of the NFIA as a unit standing autonomously.
The group accused the Acting Chairman of EFCC, Ibrahim Magu, of interfering with the affairs of the unit and sharing information that should be confidential to the unit with others including the media.
The group had also threatened to expel Nigeria permanently by January 2018 if the Nigerian government failed to grant the unit the autonomy it required to be a member of the EGMONT group.
It is in a bid to save Nigeria from being expelled that the Senate gave accelerated passage to the Bill without conducting a Public Hearing.
The Tide source reports that the NFIA if given the Presidential assent would act as the central body in Nigeria responsible for requesting, receiving, analysing and disseminating financial information to law enforcement agencies.
Speaking further on the Bill, Sen. Chukwuka Utazi, said the proposal sought to make the unit, which is currently domiciled under the EFCC an autonomous and independent body.
He said that the unit was the backbone of the EFCC but had to be made autonomous as prerequisite of being a full member of the Egmont Group.
Under the passed Bill, the NFIA would now be domiciled in the Central Bank of Nigeria (CBN) and also report to the National Assembly.
The unit, which represents Nigeria at the global body, is charged with tackling money laundering and monitoring financial flows, a task made easy by its membership of the EGMONT Group.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
Business
NIS Ends Decentralised Passport Production After 62 Years
Business
FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year
-
News4 days ago
Fubara’s Return Excites NCSU … As Hope Rises For Civil Servants
-
Opinion4 days ago
Man and Lessons from the Lion
-
Oil & Energy4 days ago
How Solar Canals Could Revolutionize the Water-Energy-Food Nexus
-
News4 days ago
CJN To Swear In 57 New SANs, Sept 29
-
Sports4 days ago
Bournemouth, Newcastle Share Points
-
Editorial4 days ago
No To Political Office Holders’ Salary Hike
-
Sports4 days ago
Sosa Pledges To Support Dolphins Swimming League
-
Oil & Energy4 days ago
FG Inaugurates National Energy Master Plan Implementation Committee