Thursday, May 15, 2025 - The Nigerian Financial Intelligence Unit (NFIU) has formally disassociated itself from an online platform known as BNBEX, warning the public against a fraudulent circular that falsely claims the agency is reviewing transactions of Nigerian users on the platform.
In a statement released on Wednesday, May 14, and signed by
Sani Tukur, Head of the Strategic Communications Department at the NFIU, the
agency stated categorically that it has no affiliation with BNBEX and has not
initiated or approved any compliance exercise related to the platform. The NFIU
emphasized that it has not validated BNBEX’s operations in any capacity.
“The circular was not issued by the NFIU and bears no
connection whatsoever to any of the Unit’s current regulatory or compliance
initiatives,” the statement said.
The agency further debunked the existence of a so-called
“Nigerian Financial Surveillance Regulation,” which was cited in the widely
circulated document. According to the NFIU, no such regulation exists within
Nigeria’s legal or financial oversight framework.
The NFIU said the contentious circular, posted on the BNBEX
website, falsely alleged that the NFIU was conducting a compliance review of
all transactions carried out by Nigerians on the platform. The NFIU described
the document as entirely fake, fabricated, and misleading, stressing that the
logo and insignia used were not those of the agency and were likely forged to
deceive the public.
The Unit also clarified that it has no offices in the
Central Business District of Abuja or in any other location outside its
official headquarters at No. 1 Monrovia Street, Wuse II, Abuja. This
clarification comes amid reports that the fake circular attempted to give
credibility to its claims by referencing non-existent NFIU branches.
In light of this, the NFIU urged Nigerians to exercise
caution and to verify all communications purportedly from the agency through
its official channels. It encouraged the public to report any suspicious
material or misinformation to the Strategic Communications Department via info@nfiu.gov.ng.
The NFIU serves as the national centre for receiving and analyzing
financial disclosures concerning suspected proceeds of crime, in addition to
its role in combating money laundering, terrorism financing, and other related
offenses.
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