The Senate has urged the thirty six states governments and Federal Capital Territory to fully implement the new Nigerian Financial Intelligence Unit, NFIU’s guidelines for the promotion of good governance at the grassroots levels.
It also called on all financial institutions to support the implementation of the guidelines of the NFIU with diligence and professionalism.
This followed the adoption of the motion by Aliyu Sabi titled: ”Nigerian Financial Intelligence Unit, NFIU and Local Government Finances” at a plenary presided over by Senate President Bukola Saraki in Abuja.
Moving the motion, Sabi explained that the new NFIU guidelines came as a result of the threats by international financial watchdogs to sanction Nigeria for alleged financial abuses.
Part of the guidelines according to the lawmaker which will come into practice by June 1st will limit cash transactions in the accounts of local governments to a daily maximum withdrawal of five hundred thousand naira only.
