Buhari presents 2 anti-corruption bill to Senate for passage
The Money Laundering Prevention and Prohibition Bill 2016, if passed into law, would expand the scope of money laundering offenses, provide protection for employees of various institutions as well as bodies who may discover money laundering, and the establishment of mutual legal assistance in criminal matters.
The bill if passed into law will also enhance customer due diligence, provide appropriate penalties and expand the scope of supervisory bodies, while recognizing the role of certain self-regulatory organisations to address the challenges faced in implementation of comprehensive anti-money regime.
The
second bill, Mutual Legal Assistance in Criminal Matters Bill 2016,
seeks to facilitate the assistance of other countries whenever a
criminal offence is committed outside Nigeria. Such assistance will
include the provision and obtaining of evidence. The Bill also seeks
the making of arrangements for persons to give evidence or assist in
criminal investigations; 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. It also seeks the
forfeiting, or confiscation in respect of offences, the execution of
request for search and seizure, the location and identification of
witnesses and suspects, the service of documents and other matters
connected with it.
The
letter reads in part “Money Laundering Prevention and Prohibition Bill
2016: This bill provides for the repeal of the Money Laundering
Prohibition Act 2011, as amended in 2012, to make comprehensive
provisions to prohibit the laundering of the criminal activities, expand
the scope of money laundering offences, provide protection for
employees of various institutions, bodies and professions who may
discover money laundering, enhance customer due diligence, provide
appropriate penalties and expand the scope of supervisory bodies, while
recognising the role of certain self-regulatory organisations to address
the challenges faced in implementation of comprehensive anti-money
regime. The Mutual Legal Assistance in Criminal Matters Bill 2016.
This
bill seeks to facilitate the provision and obtaining by Nigeria of
international assistance in criminal matters, including the provision
and obtaining of evidence, the making of arrangements for persons to
give evidence or assist in criminal investigations, 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
request for search and seizure, the location and identification of
witnesses and suspects, the service of documents and other matters
connected herewith".
Buhari presents 2 anti-corruption bill to Senate for passage
Reviewed by Nedugist
on
10:05 AM
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Reviewed by Nedugist
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10:05 AM
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