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Egmont Group decides Nigeria’s fate SeptemberEgmont Group decides Nigeria’s fate September

The Egmont Group of Financial Intelligence Units is to decide the fate of Nigeria’s membership at its plenary which is to hold in September 2018, The PUNCH has learnt.

This is contrary to speculations that failure of Nigeria to pass a law granting autonomy to the Nigerian Financial Intelligence Unit and relocating the unit from the Economic and Financial Crimes Commission before March 11, 2018, would earn it an outright expulsion from the group.

Apprehensive that the Egmont group would expel Nigeria if the nation’s compliance issues persisted till March 11, the National Assembly had in a rush last week, passed the NFIU Bill, 2018, relocating the NFIU from the EFCC to the Central Bank of Nigeria.

But documents made available to The PUNCH by sources in the group on Thursday, indicated that the NFIU had been notified of the September 2018 meeting since November 2017.

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