OrderPaperToday – The Senate on Wednesday approved the addition of the National Financial Intelligence Unit (NFIU) on the governing board of the Proceed of Crimes Recovery and Management Agency (PCRMA).

This followed the re-committal and passage of the Proceeds of Crime bill after it had been passed last month.

Speaking on the motion that led to the re-passage of the bill, the Senate Leader, Ahmed Lawan declared that it was in line with global best practices.

According to him, “After critical examination of the bill, some fundamental issues which require fresh legislative action on clause 5 occasioned by the establishment of the Nigeria Financial Intelligence Unit (NFIU) which was not contemplated in the Proceed of Crimes Recovery and Management Agency bill was noticed.

“The Nigeria Financial Intelligence Unit as an anti-corruption entity will play a fundamental role in the operation of the Proceed of Crimes Recovery and Management Agency.”

The proceeds of crime bill will among other things pave way for Nigeria to become full member of the Financial Action Task Force (FATF) while boosting the process of criminal asset recovery.

Previous articleSenate summons minister over poor state of teaching hospitals
Next articleSenate okays former CBN deputy gov as FERMA chair
Damilola is a multiple award-winning Writer, Researcher, and Community/Sustainable Development Practitioner. His interests and experience span across media, academics, human capital development, and strategic planning. Damilola is the first Nigerian in history to win the blog4dev writing contest organised by the World Bank. Also, his writing on violent extremism and sustainable peace in Nigeria won a PeaceWriteNow prize, presented by the Embassy of Ireland in June, 2018. His works have been published in Nigeria and the United States of America, in English and in French. Damilola has also attended important meetings within and outside the African continent including the 2019 Spring Meetings of the World Bank and International Monetary Fund in Washington D.C, USA. He was also a special guest on a panel discussion titled “How creative industry can help to stem fragility,” which was held at the headquarters of the World Bank in Washington, D.C, USA. Furthermore, Damilola was selected as a Champion of Advocacy against extreme poverty and preventable diseases by ONE Campaign in May, 2019. An alumnus of the prestigious Lagos Business School and Federal University of Technology Akure, Damilola Adeniran represents Nigeria in the Youth Transforming Africa Program.


Please enter your comment!
Please enter your name here