President Muhammadu Buhari on Wednesday
introduced two bills to the National Assembly to
strengthen the war against money laundering.
The bills were titled, “The Money Laundering
(Prevention and Prohibition) Bill, 2016” and “The
Mutual Legal Assistance in Criminal Matters Bill,
2016.”


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The Senate President, Dr. Bukola Saraki, read the
letter containing the bills at plenary on Wednesday
while at the House of Representatives, the Speaker,
Mr. Yakubu Dogara, read Buhari’s letter conveying
the bills to members.




Buhari in the letter stated that the first bill sought to
repeal the existing Money Laundering Act, which was
enacted in 2011 to provide for stiffer penalty for
money launderers to discourage the illegal act.
On the second bill, the President explained that its
aim was to make provisions that would enable
Nigeria to seek international assistance in recovering
looted funds.




Part of the letter read, “This bill seeks to facilitate the
provision and obtaining by Nigeria of international
assistance in criminal matters, including the
provision and obtaining of evidence and things, the
making of arrangements for persons to give evidence
or assist in criminal investigations, the recovery,
forfeiture or confiscation of property in respect of
offences…”



The Money Laundering Prevention and Prohibition
Bill, he stated, “seeks to make comprehensive
provisions to prohibit laundering and the criminal
activities, expand the scope of money laundering
offences.



“It seeks to provide protection for employees of
various institutions, bodies and professions who may
discover money laundering and enhance customer
due diligence.



“It provides appropriate penalties and expand the
scope of supervisory bodies. It also recognises the
role of certain self-regulatory organisations to
address the challenges faced in the implementation
of comprehensive anti-money regime.”



Other issues that the proposed law will address,
according to Buhari, are, “the execution of request
for search and seizure, the location and
identification of witnesses and suspects, the service
of documents and other matters connected
herewith.”




According to Buhari, the Bill is expected to provide
the framework for other countries to assist in
provision and obtaining of evidence, making of
arrangements for persons to give evidence.
The biIl, he added, also “seeks to get international
assistance in criminal investigations, recovery,
forfeiture or confiscation of property in respect of
offences.”



He said the proposed law also sought assistance in
“the restraining of dealings in property or the
freezing of assets that may be recovered, forfeited or
confiscated in respect of offences.”


Meanwhile, the House of Representatives has
advised the Nigerian Electricity Regulatory
Commission to put its planned February 3 hike in
electricity tariff on hold.



The House of Representatives ad hoc committee
investigating over-billing and other activities of
distribution companies arrived at the decision after a joint meeting with NERC and the Nigeria Electricity Consumers Advocacy Network.


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A statement on Wednesday by the Chairman of the
committee, Mr. Jimi Benson, on the outcome of the
meeting, noted that while NERC and the Discos
supported tariff hike, NECAN opposed it.
However, he said the parties later reached a
common ground.

Travelling/probing Head of State.

Our daura president has spoken
[size=24pt]Kidgod
[/size]

Ride on Baba.

Henceforth, there shall be no peace for the eaters of our yams and their household.

Keep travelling to build international coalition against the reckless and heartless yam eaters.

OBJ travels led to debt recovery, foreign direct investments and recovery of looted funds that Uncle Abacha saved in foreign countries for us.

Sometimes i use to wonder who are the advisers to this man Buhari? Are they Street men or do they have informants in the streets?

Most of his policy targets to block leakages and checkmate corrupt practices are timely and on point.
It shows a man who has an understanding of his territorial terrain and guises. I hope he will translate this attitude in initiating people oriented programmes.

Shioor... anytime they discuss one deal with me in the night, the next morning when i wake with the fantasy of hitting Mega, then i open nairaland just to see that Bubu don block the way. Baba haba, you no want make omo boy chop?

playtheblues:
Travelling/probing Head of State.

As long as he doesn't drink ogogoro till 4:00 am, sleeping all day, leaving Dasuki to run amok turning himself to a human ATM machine.

This is a president intent on fighting corruption, not the previous clown in office.

That's what he should have started long ago, and not gagging and intimidating the opposition.
Laws and punishments that are outdated should also be repelled, and replaced in line with present day realities.
I don tire for this ONE MAN show madness.

It's good if approved by our law makers.

Good bill but I pray the NA will not discard it cos they all know the implications

Where are the 'pro- yammers' aka iPod who stand in the way of any deGOATification of our yam ban made by BUHARI?



We defeated boko Haram, so we shall defeat corruption...by Gods grace

Good

Man msut hussle...

Your advert no give me spine rest to read the message completly.

Back to your topic
Before now Nigeria was a lawless country,punishable laws had been in place for money launderers but was never fuse to action.

Atleast PMB has strenthen the bait, who ever thinks short-cut is explendid should encourage the act this period of baba and feel the repercussion.

PDP won't want this bill to see the light of day because they believe stealing is not corruption but sorry 4 them, we have arrived the end of the tunnel where light will expose all their illegal & shady deeds

In as much as I have never liked Buhari , I can't just help but admire his anti corruption policies to an extent - The stealing has just got to stop for Christ sake.

We can't continue looting our national and state treasury like the way animals in the jungle fight over food.


Someone got to stop this and not just stopping it but stop it for good - Let the heads roll.

Aigbofa:


As long as he doesn't drink ogogoro till 4:00 am, sleeping all day, leaving Dasuki to run amok turning himself to a human ATM machine.

Yeah! But he smokes hot and fresh farts from Atiku, OBJ and Amaechi and so they wander around after looting the country dry under their regime in PDP... They're now saints... They write letters every here and then... They commission past administration's projects that was condemned by them. They have answers to harlibuton scam.

Good development wailers please come and fight back against our anti corruption crusade. Yeye dey smell.

PMB building institutional framework against corruption.

Plug leaks and avenue for corruption instead of issuing draconian laws.

How I wish he didn't encourage Amechi to steal N1.8 trillion from Rivers Government to support his election. Oh how I wish Tinubu did not use the Lag State 4 years revenue given to him by Ambode to sponsor his election.
Oh!, it would have been better if he wasn't supported by money guzzlers.

Oh! How I wish he had anything upstairs. Oh! Our dullard presido is not smart at all! Only zombies deny this. g

Aigbofa:


As long as he doesn't drink ogogoro till 4:00 am, sleeping all day, leaving Dasuki to run amok turning himself to a human ATM machine.

Now I can see d anti-corruption war heading a right direction

Good one Mr. President! We must kill corruption

Some persons will neva c anytin Gud in dis administration,smh

Mjshexy:
PDP won't want this bill to see the light of day because they believe stealing is not corruption but sorry 4 them, we have arrived the end of the tunnel where light will expose all their illegal & shady deeds

who r the apc pls?
was dogara apc from onset?
was saraki apc from onset?
was akume apc from onset?
was dino melaye apc from onset?
apc is the majority party in both house, so ur assertion is null n void.
pdp supports buhari'S fight against corruption, the only thing that they dont support is being vindictive, one sided fight n not being holistic. members of pdp that cross carpeted looted funds while they where in pdp, so he shud also investigate them.
I dont care who theh jail or not but what we r praying for is that d fight shud not be only infested in pdp camp.

Jackrich:
In as much as I have never liked Buhari , I can't just help but admire his anti corruption policies to an extent - The stealing has just got to stop for Christ sake.

We can't continue looting our national and state treasury like the way animals in the jungle fight over food.


Someone got to stop this and not just stopping it but stop it for good - Let the heads roll.

exactly, am pro pdp n I support this bill n I pray the apc senators will not play to d gallery n stall d passage of this bill. am saying this because apc is the majority party in both house n they will always have their way.
dont see why our politicians will loot our monies n take it to anoda land n develop someones country. its pathetic, we all know nigeria is one of the least corrupt countries in the world but the country isnt benefitting from this act cos instead of the looted funds to be invested in the country, it is exported to build another country. .
God bless naija

Knowing how corrupt Saraki is, the bill's passage may be delayed or never passed

yeahhhhhhhhhh at least people like Alex otti of diamond bank who helped chief TA orji to launder abia state money will finally go to jail when the law is passed

I will be surprise if this bill pass second reading by November 2018, those guys will simply stall it with all their energy.

Una no go ask for source now ooo.. If na news wey una no like now una go dey ask for sauce and spices and even begin call every body tanoids. Dis e-ratting don spread e-lassa for some ppl brain.

poiZon:





who r the apc pls?
was dogara apc from onset?
was saraki apc from onset?
was akume apc from onset?
was dino melaye apc from onset?
apc is the majority party in both house, so ur assertion is null n void.
pdp supports buhari'S fight against corruption, the only thing that they dont support is being vindictive, one sided fight n not being holistic. members of pdp that cross carpeted looted funds while they where in pdp, so he shud also investigate them.
I dont care who theh jail or not but what we r praying for is that d fight shud not be only infested in pdp camp.

Don't worry bro the investigation is still on going, so many of them will still be xposed ok, concerning those u mentioned there is no hiding place for anyone found guilty. It's just that pdp was the one in power & they looted this country dry & that's y many of them have been implicated, relax the fight is still on

Can this BABA of a BUHARI face areas of education and healthcare abeg!

Na only CORRUPTION you dey dream about?