The Inter-Governmental Action against Money Laundering in West Africa has pledged support to support the Economic and Financial Crimes Commission in its anti-corruption war.

The Director General of GIABA, Adama Coulibaly, also pledged the support the efforts of the Nigerian Government to lift the suspension of the Nigerian Financial Intelligence Unit from the Egmont Group

The NFIU helps tackle money laundering and monitor financial flows.

It was recently suspended from the Egmont Group.

The Egmont Group is a united body of 154 Financial Intelligence Units (FIUs).

The acting chairman of the Economic and Financial Crimes Commission, EFCC, Ibrahim Magu, has already inaugurated a committee to reposition the Unit.

While commending the EFCC for championing the anti-corruption crusade in Nigeria, Coulibaly said that the agency’s achievements were not only for the country, but for the African continent.

According to him, EFCC was a “key player” to GIABA, and “if this suspension is not lifted early, it is going to have a negative impact not only on Nigeria, but the West African region”.

“We are here to express our support to Nigeria on this noble objective of fighting corruption,” he said, adding that Nigeria will host GIABA’s plenary between November 13 and 19, 2017,” he added.

In his remarks, Magu noted that the suspension of the NFIU from the Egmont Group was based on “misinformation,” by those who are hell-bent on handicapping the EFCC, and it is a case of “corruption fighting back”.

According to him, “politicians are behind the NFIU crisis, because they want to destroy the achievements recorded by the EFCC”.

He said, the frantic move by the Legislature to take the Nigerian Financial Intelligence Unit (NFIU) out of the EFCC was suspicious, and borne out of an ulterior motive.

“There is a complete misunderstanding about the workings of the NFIU, and it is surprising that the new bill by the legislators pushing for removal of the NFIU from the EFCC was passed in seven days,” he said, adding that it was “a practice that has never happened in any part of the world”.

Magu however stressed that the EFCC was not at loggerheads with the NFIU.

“I have confidence in the management of the NFIU and the Special Control Unit against Money Laundering, SCUML, and the relationship is very cordial and professional,” he said, stressing that the EFCC was “very much in support of the NFIU’s autonomy”.

He further noted that the African continent should consider the establishment of an association of African Financial Intelligence Units. (TV360 Nigeria)

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