Senate Moves To Unbundle EFCC, Blames Magu For Nigeria’s Egmont Setback

Following the suspension of Nigeria Financial Intelligence Unit (NFIU) from the Egmont Group, Senate has moved to unbundle the NFIU from the Economic and Financial Crimes Commission (EFCC).

It would be recalled that Egmont Group, the highest inter-governmental association of intelligence agencies in the world, had on Wednesday suspended Nigeria for its failure to grant the financial intelligence unit autonomy.

The NFIU’s suspension from the Egmont is considered a major setback for President Muhammadu Buhari’s anti-graft war.

Hence, the Senate today said it would initiate a bill to make the NFIU autonomous.

In a motion sponsored by Chairman, Committee on Anti-Corruption and Financial Crimes, Sen. Chukwuka Utazi, the Senate resolved to grant the NFIU autonomy with the powers to employ, reward, train, promote and discipline workers of the Unit.

Utazi, in the motion titled “Dire implications of the suspension of Nigeria from the Egmont Group of Financial Intelligence Units,” accused Acting Chairman of EFCC, Mr Ibrahim Magu, of meddling with activities if the Unit.

He further attributed Nigeria’s suspension to Magu’s inference with affairs of the NFIU.

“Nigeria can ill-afford to be blacklisted as the implications are dire, not only to our aspiration for membership of the Financial Action Task Force (FATF) into which so much energy and time have been invested.

“An expulsion might also, under certain conditions, attract the imposition of financial transaction limit, including the withdrawal by some countries of scholarships to students of Nigerian origin.

“We will not renege; this is the Senate of the Federal Republic of Nigeria and we are going to live up to the billing of this body and ensure we do things rightly,” said Utazi.

Deputy Senate President,  used to be a department in the EFCC. So what they do is to gather financial intelligence about bank transactions.

“And, because they get international funding and they are very influential, there was a huge debate where to domicile it, whether in the CBN or Office of the Attorney-General. There was an inter-agency rivalry.

“Egmont is complaining that all the staff members of NFIU are all from EFCC; they said this was not right,” said the Deputy Senate President.

Senator Shehu Sani contributed by saying, “If actually we are committed to fighting corruption, it must be done smartly and intelligently.

“Intelligently, in the sense that we must belong to internationally acclaimed groups like Egmont in which our activities will tally with similar countries worldwide that share our goals.

“What this parliament can do is to rescue the situation. December is the deadline. The deadline which we either meet up or we are expelled from it.

“If we are desirous of achieving results in our anti-corruption fight, then we must not afford to be expelled by an institution that knows and have the mechanism to support our own local national laws and agencies,” Sani said.

Senator Dino Melaye, on his part said: “Separating the NFIU from the EFCC will show that we are sincere in the fight against corruption. Today, we all know that there is a serious interference with the activities and operations of the NFIU.”

In his remarks, Senate President, Bukola Saraki, described Nigeria’s suspension as a setback to President Buhari’s corruption fight, adding that, “We must move swiftly because we cannot afford to be cut off from the Egmont Group.

“We must move swiftly and ensure that this suspension is lifted and one of the things we need to do is to ensure that we pass this bill as soon as possible and give independence to NFIU.

“Other activities that must have led to this must be stopped.

“The committee on anti-corruption will carry out their oversight to ensure that the sooner we get the suspension lifted the better for our image and the fight against corruption,” Saraki said.