NFIU: ‘My LG didn’t have N500,000 since 2002, received N129m this month – Ribadu

The pioneer chairman of the Economic and Financial Crimes Commission (EFCC), Nuhu Ribadu, has disclosed that his local government, Yola South in Adamawa State did not have N500,000 in its account since 2002.

LG Funds: Court rejects Governors’ move to scuttle NFIU guidelines

A Federal High Court in Abuja has rejected the request by the Governors of the 36 states for an order stopping the implementation of guidelines issued by the Nigerian Financial Intelligence Unit (NFIU) in relation to the operation of the States/Local Government Joint Accounts.

Imminent showdown between governors, NFIU as new guidelines take effect today

The NFIU directive is believed to have issued to ensure financial autonomy of the local councils. The new guidelines impose a daily N500,000 cash transaction limit on all the 774 LGs.

Governors move to stop NFIU from whittling their control on LG funds

Nigeria’s 36 governors have risen against new financial regulations which seek to end their control of local government finances.

No going back on June 1 deadline for LG financial autonomy, NFIU warns governors

Nigerian Financial Intelligence Unit, NFIU, on Wednesday said its June 1 deadline for financial autonomy of local governments still stands.

EU withdraws Nigeria’s listing as ‘high-risk country in money laundering, terrorism financing’

The NFIU gave the indication in a first public statement released by its Acting Chief Media Analyst, Ahmed Dikko, and made available to journalists in Abuja on Monday.
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