NFIU denies link to BNBEX, warns public against fake circular
The Nigerian Financial Intelligence Unit (NFIU) has distanced itself from a platform known as BNBEX and disowned a circular that falsely claims the unit is reviewing transactions of Nigerian users on the platform.
In a statement released on Wednesday and signed by Sani Tukur, Head of the Strategic Communications Department at the NFIU, the agency made it clear that it has no connection with BNBEX, has not validated its operations, and has not initiated or approved any compliance exercise related to the platform.
“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 read.
The Unit also refuted the existence of any regulation titled “Nigerian Financial Surveillance Regulation,” which was cited in the document circulated by BNBEX. According to the NFIU, no such regulation exists within Nigeria’s legal or financial regulatory framework.
The circular, which was posted on BNBEX’s website, falsely alleged that the NFIU was conducting a compliance review involving all transactions carried out by Nigerians on the platform. The NFIU categorically rejected this claim and described the document as fake and misleading.
The agency further clarified that the logo and insignia used in the controversial document do not belong to the NFIU. It described them as fabricated and cautioned the public against accepting such materials as legitimate.
With regards to location, the NFIU stated that it has no offices in the Central Business District of Abuja or any other area outside of its official headquarters located at No. 1 Monrovia Street, Wuse II, Abuja.
The Unit then urged members of the public to be vigilant and verify information through official NFIU channels to avoid falling victim to scams or disinformation.
“For purposes of clarification or to report suspicious information purporting to be from the NFIU, please contact the Strategic Communications Department at [email protected],” the statement concluded.
The NFIU serves as Nigeria’s central national agency responsible for the receipt and analysis of financial disclosures concerning suspected proceeds of crime and other financial information to combat money laundering, terrorism financing, and related crimes.
This latest development shows the increasing challenges of financial fraud in Nigeria’s digital space and the need for the public to be cautious when dealing with online platforms, especially those making claims involving regulatory agencies and promising mouth-watering returns on investments.
