From Juliana Taiwo-Obalonye, Abuja
The Nigerian Financial Intelligence Unit (NFIU) has rejected a fraudulent circular posted on the cryptocurrency platform BNBEX, which falsely claimed the NFIU was reviewing transactions of Nigerian users under a “Nigerian Financial Surveillance Regulation”.
Sani Tukur, head of NFIU’s Strategic Communications Department, stated on Tuesday, May 13, 2025, that the document was neither authored nor authorised by the NFIU.
“The circular was not issued by the NFIU and bears no connection whatsoever to any of the Unit’s current regulatory or compliance initiatives,” he said. The NFIU clarified that the referenced “Nigerian Financial Surveillance Regulation” does not exist in Nigerian law.
The circular used a counterfeit NFIU logo and listed a false office address in Abuja’s Central Business District. The NFIU’s sole official address is No. 1 Monrovia Street, Wuse II, Abuja. Tukur urged the public to rely on official NFIU channels for accurate information.
The NFIU has no affiliation with BNBEX and has not validated its operations. It warned that such misinformation could undermine Nigeria’s efforts to combat financial crimes. The public can contact the NFIU at [email protected] for clarification or to report suspicious claims.
This follows Nigeria’s recent progress in strengthening its anti-money laundering framework, praised by the Financial Action Task Force (FATF) for enhanced regulatory enforcement.
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