President Muhammadu Buhari on Thursday in Abuja signed into law, three bills aimed at improving the anti-money laundering and counter terrorist financing/proliferation financing framework in Nigeria.
The bills are: the Money Laundering (Prevention and Prohibition) Bill, 2022, the Terrorism (Prevention and Prohibition) Bill, 2022, and the Proceeds of Crime (Recovery and Management) Bill, 2022.
Speaking at a signing ceremony at the Council Chamber, State House, the President described the bills as being in tandem with this administration’s commitment to fight corruption and illicit financing activities, as well as critical to the governance agenda and the development of Nigeria, a statement signed by presidential spokesperson Femi Adesina said.
“The new laws have provided enough punitive measures and containment strategies against abuses and compromises,” he said, noting that the inadequacy of all the repealed Acts had impacted legal actions against offender.
“We will not rest until we rid the nation of the menace of money laundering, terrorism, and other financial crimes,” he added.
President Buhari commended the National Assembly for their tenacity, courage and commitment in ensuring that Nigeria has put in place effective measures to address the menace of money laundering, terrorism, and terrorism financing.
The President noted that the 9th National Assembly has proven to be patriotic, responsive, resourceful and industrious in its legislative assignments, recalling that on 14th January, 2022, he had sought expeditious passage of the said Bills.
He lauded the Assembly under Senate President Ahmed Lawan and the Speaker, Femi Gbajabiamila and their colleagues for responding to his request, saying they “have certainly carved out a worthy legacy for themselves.”
Credit: channelstv.com
