NFIU’S New Financial Regulations Will End Mismanagement


 Nigeria labour congress, NLC, has written to President Muhammadu Buhari, commending him for Nigeria financial intelligence Unit, NFIU, new financial regulations on States, Local government joint accounts.

In a letter by President of NLC, Ayuba Wabba, the labour contended that the new NFIU’S regulations, though insufficient, would go a long way in addressing the mindless mismanagement of local government funds by many state governors.

Comrade Wabba commended President Buhari’s government for pursuing the institutionalisation of the Nigeria Financial Intelligence Unit by an act of the National Assembly in 2018, thus fully excising the NFIU from the economic and financial crimes commission, EFCC.

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He said this was done according to international financial standards and saved Nigeria from international isolation with its attendant consequences on the economy.

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