The Nigerian Financial Intelligence Unit, NFIU is to put in place mechanisms to check financial transactions and withdrawals by states and the federal governments as part of its obligation to curb money laundering.
NFIU Director, Modibbo Hamman-Tukur explained that the case of diversion of local government fund by a state government had been addressed, adding that stringent fiscal measures 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 guidelines.
The unit maintained 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 responsibility, noting that it would also monitor financial transactions by local governments.
