Nigeria, through the Nigerian Financial Intelligence Unit (“NFIU”), is a member of the Egmont Group of Financial Intelligence Units (“the Egmont Group”). The Egmont Group is an international anti-corruption body consisting of the Financial Intelligence Units (FIUs) of the countries who are signatories to its charter. The Group serves as the operational arm of the International Anti Money Laundering and Counter Finance Terrorism apparatus. The primary purpose of the Egmont Group is to provide a platform for the secure exchange of financial intelligence between and among its member FIUs
The NFIU was established in 2004 as a unit under the control of the Economic and Financial Crimes Commission (EFCC), to serve as the Nigerian equivalent of FIUs in the Egmont Group. The creation of the NFIU was in line with Section 1(2)(c) of the EFCC Establishment Act 2004 which designates the EFCC as the Financial Intelligence Unit in Nigeria. This establishment of the NFIU as a unit under the EFCC was initially accepted by the Group, although the Group, in 2013, had expressed concerns regarding the operational autonomy of the NFIU.