Connect with us

Breaking News Update

President Buhari Signs Three Critical Bills

Published

on

Nigeria’s President, Muhammadu Buhari on Thursday signed three critical bills into law.

Presidential Spokesman, Femi Adesina, made this known in a statement in Abuja, Naija News reports.

He listed the three bills as 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 Presidential Villa, Buhari said the Money Laundering (Prevention and Prohibition) Bill, 2022 will help improve the anti-money laundering policy of his administration.

Advertisement

The President added that the Terrorism and Proceeds of Crime bills would prevent terrorist acts and improve the terrorism financing framework in the country.

He said, “The new laws have provided enough punitive measures and containment strategies against abuses and compromises.

“We will not rest until we rid the nation of the menace of money laundering, terrorism, and other financial crimes.

Advertisement

“The signing of these bills into law today not only strengthens the Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) framework in the country but addresses the deficiencies identified in Nigeria’s 2nd round of Mutual Evaluation as assessed by Inter-Governmental Action Group Against Money Laundering in West Africa on compliance with the Financial Action Task Force global standards.

“Accordingly, the repeal of the Money Laundering (Prohibition) Act, 2011 as amended and enactment of Money Laundering (Prevention and Prohibition) Act, 2022 provides comprehensive legal and Institutional Framework for the prevention and prohibition of money laundering in Nigeria and confers on the Economic and Financial Crimes Commission, the legal status of the Special Control Unit Against Money Laundering.

Buhari said the three laws are in line with his commitment to fighting corruption and illicit financing activities, adding that they are critical to the governance agenda and the development of the nation.

Advertisement

He explained that the new laws mandate the creation of dedicated accounts for the proceeds of crime and other confiscated assets in order to enhance the accountability of the process.

“I have therefore taken time to note the emphasis placed on collaboration, synergy and unification of strategies and measures to combat the scourge of Money Laundering and terrorism financing and proliferation financing in the Act.

This article was originally published on Nigeria News

Advertisement

Click to comment

Leave a Reply

Your email address will not be published.

Recently Posted

Jobs16 hours ago

The Absa SHE STARS Program for female Kenyan Entrepreneurs 2022

The Absa SHE STARS Program supports female entrepreneurs from various sectors in Kenya to overcome some of the most prevalent challenges...

SASSA Jobs or Careers SASSA Jobs or Careers
Jobs16 hours ago

SASSA Jobs or Careers

The South African Social Security Agency (Sassa) is a government entity that is not only responsible for distributing social grants to...

How To Search For Jobs Vacancies For SASSA How To Search For Jobs Vacancies For SASSA
Career2 days ago

How To Search For Jobs Vacancies For SASSA

  The South African Social Security Agency (Sassa) is a government entity that is not only responsible for distributing social grants...

Apply For Central Queensland University Australia HeART Of The Basin Scholarship 2022/2023 Apply For Central Queensland University Australia HeART Of The Basin Scholarship 2022/2023
Scholarships4 days ago

Apply For Central Queensland University Australia HeART Of The Basin Scholarship 2022/2023

Apply For Central Queensland University Australia HeART Of The Basin Scholarship 2022/2023 Scholarship Description: The CQUniversity is offering 2022 HeART...

Apply For University Of Melbourne Australia Faculty Of Science Postgraduate Writing-Up Award 2022/2023 Apply For University Of Melbourne Australia Faculty Of Science Postgraduate Writing-Up Award 2022/2023
Scholarships4 days ago

Apply For University Of Melbourne Australia Faculty Of Science Postgraduate Writing-Up Award 2022/2023

Apply For University Of Melbourne Australia Faculty Of Science Postgraduate Writing-Up Award 2022/2023 Scholarship Description: The University of Melbourne is...

Apply For Japanese Government (Monbukagakusho: MEXT) Scholarship For Undergraduate Studies 2023 Apply For Japanese Government (Monbukagakusho: MEXT) Scholarship For Undergraduate Studies 2023
Scholarships4 days ago

Apply For Japanese Government (Monbukagakusho: MEXT) Scholarship For Undergraduate Studies 2023

Apply For Japanese Government (Monbukagakusho: MEXT) Scholarship For Undergraduate Studies 2023 Scholarship Description: The Monbukagakusho: MEXT (Ministry of Education, Culture,...

Breaking News Update4 days ago

Yul Edochie’s First Wife, May Releases Breath Taking Photo After Husband’s Second Wife Saga

May Edochie, Wife of Nollywood actor, Yul Edochie, has released new breathtaking photo, weeks after her husband announced his second...

Hotest News4 days ago

CharlyBoy leads protest against killing of Deborah Samuel (photos)

Popular Nigerian singer and activist, Charles Oputa, aka Charly Boy today May 23, led a protest against the gruesome killing...

Hotest News4 days ago

British politician Imran Ahmad Khan is jailed for 18 months for historical sex assault on teenage boy

British politician Imran Ahmad Khan has been jailed for 18 months following his conviction for sexually assaulting a 15-year-old boy. The...

Hotest News4 days ago

“No man wants to be with you because you’re bitter” Bobrisky writes as he and Tonto Dikeh resume their beef

Former best friends Bobrisky and Tonto Dikeh are calling each other out on Instagram. Bobrisky threw the first punch and Tonto...

Hotest News4 days ago

EFCC arrests 22 suspected internet fraudsters in Asaba

Operatives of the Economic and Financial Crimes Commission, EFCC, Benin Zonal Command have arrested 22 suspected internet fraudsters. The suspects were...

Foreign Affairs4 days ago

Grandson stabbed granddad to death after finding out he was accused of sex abuse

David Oliver, 74, was accused of historic sex abuse against girls, a court heard (Picture: Central News/Web) A 25-year-old man...

Latest Movies4 days ago

Dave Filoni Recalls Rosario Dawson’s Ahsoka Tano Screen Test

Dave Filoni, executive producer, director, writer, and Star Wars mastermind of Disney+’s The Mandalorian, recalls Rosario Dawson’s screen test as Ahsoka Tano. Filoni helped...

Breaking News Update4 days ago

‘I Spent N30m, The Producers Could Not Pay Me’ – Caroline Danjuma Speaks On Appearance In Reality Show

Former actress, Caroline Danjuma has revealed that the producers of Real Housewife of Lagos, a reality TV show she features...

Latest Movies4 days ago

Marie-Laure ‘Kayane’ Norindr Interview: Daija Arcade Stick

The secret to becoming a professional player at any video game is practice, which is especially true of the fighting...

Trending

x