Sends bill to create new agency

President Muhammadu Buhari, yesterday, initiated moves to unbundle the Economic and Financial Crimes Commission (EFCC) and create a new body, Proceeds of Crime Recovery and Management Agency.

President of the Senate, Ahmad Lawan, who read a letter from President Buhari on the proposed bill tagged: “Proceeds of Crime Bill” said it would address the problem of lack of transparency and accountability associated with the management of recovered funds by anti-corruption agencies in the country.

Buhari in the letter explained that the transmission of the piece of legislation to the National Assembly for consideration followed its approval by the Federal Executive Council.

According to the letter dated October 6, the agency would be critical in sustaining the fight against corruption, money laundering and illicit movement of stolen funds through the banking system and across Nigerian borders.

“An important feature of the bill is the creation of the Proceeds of Crime (Recovery and Management) Agency. The objects of the agency include the enforcement and administration of the provisions of the bill and the coordination of the recovery and management of the proceeds and instrumentalities of unlawful activity in Nigeria in all collaboration with anti-corruption and other law enforcement agencies.


“Most importantly, the agency will ensure that Nigerians can benefit from proceeds of crime by ensuring that once recovery is made, the properties and assets will be secured and that the final forfeitures granted through a court order can be paid into the Confiscated and Forfeited Account to be domiciled in the Central Bank of Nigeria.”

If signed into law, the bill will stop the EFCC and six other anti-corruption agencies from securing freezing orders on suspicious bank accounts under investigation

The other agencies, include Independent Corrupt Practices and Other Related Offences Commission (ICPC); National Drug Law Enforcement Agency (NDLEA); Nigerian Financial Intelligence Unit (NFIU); National Agency for the Prohibition of Trafficking in Persons (NAPTIP); Code of Conduct Bureau (CCB) and the police.

“The Proceeds of Crime Bill is essential and critical in building and enduring and sustainable foundation for the fight against corruption, money laundering and illicit movement of stolen funds through the banking system and across the Nigerian borders. The bill will also improve the ability of law enforcement agencies to seize, freeze, and confiscated stolen assets in Nigeria while observing all related constitutional and human rights laws,” the President said.

When the Bukola Saraki-led senate passed the bill last year, the EFCC, headed by suspended acting chairman, Ibrahim Magu, opposed it and urged President Buhari to reject it.

THE SUN

Interpretation :

We want to hire more northerners to take over seized funds and properties and share them to relatives of men in power so that another Magu will not happen on them.

This body is being set up with Niger Delta oil money to share the loot of the executive and cover the tracks.

Nice try but we want this country restructured. We want Ogun state funds looted by Gbenga Daniels to be recovered by the South west regional government and used inside the South west and not confiscated by Magu and shared in Katsina.

I no longer regard you as president because you're a failure .

You've failed in every sector of the economy, old man .

The problem is more than 90% of Nigerians are corrupts.
Those insulting and complaining are hating because they are not the ones doing it.
The better people are just the ones talking about solutions.
The smart ones are just quite and making their money with or without the government's help.

Where are the recovered looted money from EFCC?

useless criminal terrorist Buhari
gworo chewing bastard burukutu sipping monkey
Useless old rotten illiterate terrorist
thunder scatter Buhari Insha'Allah amin
thunder scatter Aisha masha Allah amin

I hate Buhari with passion
you hate buhari with passion
we hate buhari with passion

Hnnm
I'm surprise no body is asking what happened to the Magu probe and the missing recovered loots

NaijaRoyalty:
I no longer regard you as president because you're a failure .

You've failed in every sector of the economy, old man .

Can you also stop his salary,allowances, and power please?

When the Bukola Saraki-led senate passed the bill last year, the EFCC, headed by suspended acting chairman, Ibrahim Magu, opposed it and urged President Buhari to reject it.

Posterity will remember Bukola Saraki for his immense contribution towards the country's journey to Nationhood, despite the uncooperative attitude of the cursed Executive, ably led by the dullard in Chief.

2by40ft:

Can you also stop his salary,allowances, and power please?

Power belongs to God

NaijaRoyalty:


Power belongs to God

Then its the will of God he has it and you are trying to deny it for him.

2by40ft:

Then its the will of God he has it and you are trying to deny it for him.

Is that what they teach you people in Islam?

That because God gave you power, you should use it to oppress people ?

I appreciate this effort, but we are not going anywhere without reforming the judiciary, it makes no sense to waste money and manpower on investigation a prosecution jand at the end of the day get the case thrown out based on frivolous and ridiculous ruling or laughable technicalities by crooked and vribe collecting judges.

It's not by accidents that some cases are over a decade old because of senseless adjournments to make sure that corrupt people are never jailed ot even appear in court for years.

A lot of corrupt people are walking around enjoying the proceeds of corruption that we even forgot that they are on trial because they've secured endless adjournments to keep them out of the court rooms for years and eventually freed.

Only in Nigeria you see corrupt judges granting perpetual injunctions to shield corrupt people from arrest and prosecution.

Not fixing the judiciary is putting the cart before the horse. The judiciary is the reason why corrupt people don't go to jail, it's the reason why looters loot money for power, money for roads, money for bridges, money for education, money for healthcare, money for water, money for relief and welfare and so on, it's the ultimate reason why we have nothing to show for our oil wealth.

Apart from rooting out corruption within the judiciary, we must set up special courts to handle white collar crimes like corruption, looting and stealing to adjudicate and dispose such cases without silly and corrupt injunctions, adjournments and technicality nonsense.

The judiciary is at the top of our problems.

is GMB aware of this action?

NaijaRoyalty:


Is that what they teach you people in Islam?

That because God gave you power, you should use it to oppress people ?

Ist envy they spread in church

2by40ft:

Ist envy they spread in church

I know you're a product of religion of piss , please get off my mention .

NaijaRoyalty:


I know you're a product of religion of piss , please get off my mention .

Still following the last orgyy doctrine

Saraki turning out to be d best Senate President we v ever had. Same bill his reign passed but politicized through Magu and d Executive so that he doesn't get d deserved credit and ovation is now being represented for consideration by d rubber stamp squad

This administration should just be quiet regards corruption, if you want to be a hypocrite be a silent one at least.

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3x721:
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One week just 20 monikers wiped out.... Na so I lazy reach

So is the EFCC proceed not being paid into the TSA before? After they govt boasted that all loopholes for lost of revenues have been blocked via the TSA.

Buhari being corrupt himself is just playing along with the equally corrupt AGF to render EFCC useless despite it is know that Magu is also corrupt.

Foolish Gworo eating Oldman.

Na wa