Chairman, Senate Committee on Anti-Corruption and Financial Crimes, Senator Chukwuka Utazi submitted the conference committee's report to the Senate yesterday.
The FIU threatened to expel the country if the Unit was not given autonomy by its next meeting holding on March 11, 2018.
While Oladele proposed that it should be domiciled within the Economic and Financial Crimes Commission, it was eventually agreed that the Central Bank of Nigeria should be given the responsibility.
Nigeria's lower house of parliament passed a bill on Tuesday aimed at helping authorities to tackle money laundering and funding for terrorism.
According to informed sources, the Bill, as presented by Oladele to the House and the Conference Committee, has been adopted wholesale except for two clauses.
In a statement, Egmont said; "The Heads of FIU made a decision, by consensus, to suspend the membership status of the NFIU, Nigeria, following repeated failures on the part of the FIU to address concerns regarding the protection of confidential information, specifically related to the status of suspicious transaction report (STR) details and information derived from worldwide exchanges, as well as concerns on the legal basis and clarity of the NFIU's independence from EFCC".
The President of the Senate, Dr Bukola Saraki expressed concern that Nigeria's suspension from the EGMONT Group had some consequences.
"Many of you will remember that late a year ago, the Senate raised the alarm over Nigeria's suspension from the EGMONT Group - based on the lack of independence of the NFIU as now established".
The confirmation followed the consideration of the report of Senate Committee on Judiciary, Human Rights and Legal Matters during plenary. Now it needs President Muhammadu Buhari's assent to become law.
Nigeria risked being expelled by the Egmont Group if the bill wasn't passed earlier.
DAILY POST reports that the EGMONT Group is a network of 152 member countries that share information relating to criminal intelligence and financial information.