LG Financial Autonomy: NFIU Says Governors’ Legal Action Cannot Stop Operations - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Publisher (F.BA)
August 27, 2019
TheNigerian Financial Intelligence Unit, NFIU is to put in place mechanisms tocheck financial transactions and withdrawals by states and the federalgovernments as part of its obligation to curb money laundering.
NFIUDirector, Modibbo Hamman-Tukur explained that the case of diversion of localgovernment fund by a state government had been addressed, adding that stringentfiscal measures had been put in place to prevent a recurrence.
Hamman-Tukur,however, said stronger action would be taken against the state if it againbreached the guidelines.
Theunit maintained that the ongoing legal action taken by the state Governorsagainst the guidelines on local government funds would not prevent it fromcarrying out its responsibility, noting that it would also monitor financialtransactions by local governments.