Govs’ suit can’t stop our operations –NFIU

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The Nigerian Financial Intelligence Unit has said it will soon put in place instruments to “tamper with” financial transactions and withdrawals by states and the federal governments as part of its mandate to curb money laundering.

The unit insisted that the ongoing legal action taken by the state governors against the guidelines on local government funds would not prevent it from carrying out its statutory responsibility, noting that it would also monitor financial transactions by local governments.

The NFIU Director, Modibbo Hamman-Tukur, who disclosed this on Monday, explained that the case of diversion of local government fund by a state government had been addressed, adding that tighter fiscal control had been put in place to prevent a recurrence.

Hamman-Tukur, however, said stronger action would be taken against the state if it again breached the NFIU guidelines.

He they have spoken to the banks and they confirmed that the case of violation happened at the state capital level, and they took immediate action to rectify it.

The director added that they are taking actions to prevent money laundering in Nigeria.




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