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Sends first 2 executive bills to Senate

President Muhammadu Buhari yesterday introduced two executive bills to the House of Representatives aimed at prohibiting laundering of criminal activities in the country.

They are: the Money Laundering (Prevention and Prohibition) Bill 2016 and the Mutual Legal Assistance in Criminal Matters Bill 2016.
Reading the letter on the floor of the House, the Speaker, Hon, Yakubu Dogara, explained that the Money Laundering (Prevention and Prohibition) Bill 2016 provides for the repeal of Money Laundering (Prohibition) Act 2011 as amended in 2012.
Dogara said that the new bill intends to make comprehensive provisions to prohibit the laundering of criminal activities in the country.
He also hinted that the bill seeks to expand the scope of money laundering offences as well as provide protection for employees of various institutions, bodies and professions who may discover money laundering.
According to him, “the bill will enhance customer due diligence, provide appropriate penalties and expand the scope of supervisory bodies.
“While recognising the role of self regulatory organisations to address the challenges faced in the implementation of comprehensive anti-money laundering regime in Nigeria.
“This includes the provision and obtaining of evidence and things, the arrangements for persons to give evidence or assist in criminal investigations, the recovery, forfeiture or confiscation of property in respect of offences.
“The restraining of dealings in property or the freezing of assets that may be recovered; forfeited or confiscated in respect of offences, the execution of requests for search and seizure.
“The location and identification of witnesses and suspects, the service of document and other matters connected therewith”.
Dogara further said that the Mutual Legal Assistance in Criminal Matters Bill, 2016 seeks to facilitate the provision and obtaining by Nigeria of international assistance in criminal matters.
In a bid to boost the anti-corruption crusade of his administration, President Muhammadu Buhari yesterday sent his first two executive bills to the Senate, seeking to prohibit money laundering and criminal activities in the country.
The bills are “The Money Laundering (Prevention and Prohibition) Bill, 2016” and “The Mutual Legal Assistance in Criminal Matters Bill, 2016”, respectively.
Buhari, in a letter to the federal legislature, and addresed to the Senate President, Dr. Abubakar Bukola Saraki, stated that he was introducing the bills for formal consideration and enactment into law by the distinguished senators.
The President, in the letter read by Saraki in the Red Chamber, informed that the first bill provides for the repeal of Money Laundering (Prohibition) Act 2011 as amended in 2012.
He explained that the bill would “make comprehensive provisions to prohibit the laundering of criminal activities, expand the scope of money laundering, and provide protection for employees of various institutions, bodies and professions who may discover money laundering”.
Buhari also stated that “the bill will enhance customer due diligence, provide appropriate penalties and expand the scope of supervisory bodies whilst recognising the role of self regulatory organisations to address the challenges faced in the implementation of comprehensive anti-money laundering regime in Nigeria”.
On the second bill, the President said it “seeks to facilitate the provision and obtaining by Nigeria of international assistance in criminal matters”.
These, he stressed include the provision and obtaining of evidence and things, and the making of arrangements for persons to give evidence or assist in criminal investigations.
Buhari further stated that the bill seeks “the recovery, forfeiture or confiscation of property in respect of offences, the restraining of dealings in property or the freezing of assets that may be recovered, forfeited or confiscated in respect of offences”.
He listed other aims as the execution of requests for search and seizure, the location and identification of witnesses and suspects, the service of documents and other matters connected therewith.
The President expressed hope that the two bills will receive the usual expeditious attention of the distinguished senators.


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