NFIU Doesn’t Need To Write Banks For Account Details

NFIU Doesn’t Need To Write Banks For Account Details

NFIU Doesn’t Need To Write Banks For Account Details

The attention of the Nigerian Financial Intelligence Unit (NFIU), has been drawn to media reports stating that the unit has requested banks to furnish it with the account details of principal officers of the National Assembly and the Judiciary. Such reports are not true,

In line with its powers as enacted in the NFIU Act, the Unit already has access to details of all bank accounts in the country and does not therefore, need to write to commercial banks asking for the same information.

As a matter of fact, relevant reporting entities such as investigative and other Law Enforcement Agencies always rely on the NFIU for information on bank details of individuals and body corporate under investigation as they go about carrying out their functions. Such is a mandatory reporting process.

The Unit does not also make blanket requests to all banks as is being speculated in the reports

The media and indeed the general public are therefore, requested to disregard such reports

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