LG Funds: Again, NFIU Warns Banks, Others on Full Compliance with Financial Regulations


The Nigeria Financial Intelligence Unit (NFIU) Wednesday reinforced the June 1, 2019 deadline to all financial institutions, other relevant stakeholders, public servants and the entire citizenry to ensure full compliance with the provisions of the guidelines already submitted to financial institutions and relevant enforcement agencies including full enforcement of corresponding sanctions against violations.

The unit observed that there had been isolated comments from a section of the public which were in conflict with its initial pronouncement regarding the commencement of investigations into revenue allocations to local government areas across the states of the federation and the need for relevant stakeholders to abide by financial regulations as spelt out in the constitution.

The unit, in a follow up statement issued by its Chief Media Analyst, Ahmed Dikko, a copy of which was emailed to THISDAY, reiterated its warning that any contrary action to its circular to affected…

Source: Thisday Newspaper