(Bloomberg) -- The Nigerian Financial Intelligence Act, which sets up a central body for processing intelligence related to financial transactions in the West African country, is now in effect after the bill was signed by President Muhammadu Buhari.
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The agency will receive and analyze all financial intelligence and disseminate to appropriate law enforcement organizations, Ita Enang, presidential adviser on parliamentary affairs, said in a statement handed to reporters on Wednesday in Abuja, the capital.
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“The act, which makes the unit an autonomous body, makes provision for the exchange of information with financial intelligence institutions or similar bodies in other countries,” Enang said.
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