The headquarters of the NFIU is located in close proximity to the Aso Villa demonstrating its pivotal role in supporting the Office of the President to gather financial intelligence.
The NFIU was established in 2004 as an autonomous unit within the central coordinating body for the country's Anti-Money Laundering, Counter-Terrorist Financing, and Counter-Proliferation Financing (AML/CFT/CPF) framework of Central Bank of Nigeria.
[3] In the first quarter of 2022, about N150 trillion worth of transactions in Nigeria were reported as “suspicious” by the NFIU.
[4] In January 2023, NFIU issued a ban on the federal, state, and local governments from making cash withdrawals from their own accounts.
[5] This was criticized by the Nigerian Governors Forum which stated that the NFIU advisory and guidelines on cash transactions were outside the agency's mandate.