Nigeria

The Nigerian Financial Intelligence Unit (NFIU) is a national institution that operates independently, as it has independent corporate existence following its operational separation from the Economic and Financial Crimes Commission (EFCC) through the 2018 Act. The NFIU functions as the main coordinating center for financial information analysis in Nigeria, as well as the main secretariat for the National Sanctions Committee (NSC) and the Inter-Ministerial Committee on Anti-Money Laundering & Counter Terrorism Financing (IMC).

The NFIU gathers and processes millions of Currency Transaction Report (CTR) and Suspicious Transaction Report (STR) files provided by financial institutions and non-financial organizations using its specialized goAML portal. The NFIU is mandated to analyze complicated transaction files, trace concealed illicit funds, prepare intelligence reports for domestic security and law enforcement bodies, and manage intelligence exchanges with foreign countries’ units such as the Egmont Group, to safeguard the financial ecosystem of Nigeria.