fbpx

info@lawreporterslive.com

27.1 C
Abuja
Saturday, October 23, 2021

Buhari sends proceeds of crime bill to Senate

Must read

Court temporarily halts re-trial of Orji Uzor Kalu over alleged N17.1bn fraud

A Federal High Court in Abuja has ordered the re-arraignment of former Abia State Governor, Orji Uzor Kalu in an alleged N7.1bn money-laundering charges...

Ayade swears in Justice Akon Ikpeme as Cross River Chief Judge

Twice rejected by the State House of Assembly for being a security threat Justice Akon Bassey Ikpeme was on Monday sworn-in by Cross River...

Court orders forfeiture of Yari’s N284m to FG

A Federal High Court in Abuja on Tuesday ordered a final forfeiture of about N284, 306, 294.04 linked to a former governor of Zamfara,...

Court reverses dismissal of 3 police officers, orders recall

Justice Elizabeth Oji of the Lagos Judicial division of the National Industrial Court has nullified the purported dismissal of Mufutau Olaosun, Temitope Adebayo, and...

President Muhammadu Buhari has sent an executive bill that would among others, ensure the management of the funds an property confiscated from criminals.

The bill is titled, ‘Proceeds of Crime Bill’.

The proposed legislation also sought to 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 a letter to the upper chamber on Tuesday explained that the decision to transmit the bill to the National Assembly for consideration was approved by the Federal Executive Council.

The letter, dated October 6, 2020, and read during plenary by the Senate President, Ahmad Lawan, stated that the bill was critical in sustaining the fight against corruption, money laundering and illicit movement of stolen funds through the banking system and across Nigerian borders.

This bill will also address the problem of lack of transparency, accountability, and lack of credible records associated with the current procedure in the management of recovered funds by anti-corruption agencies and other institutions in Nigeria.

Recall that the National Assembly had on May 22, 2019, transmitted the Proceeds of Crime Bill to the President for his assent.

The Chairman of the House of Representatives Committee on Financial Crimes, Kayode Oladele, confirmed the development then.

Buhari, however, declined his assent to the bill.

- Advertisement -

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest article

Court temporarily halts re-trial of Orji Uzor Kalu over alleged N17.1bn fraud

A Federal High Court in Abuja has ordered the re-arraignment of former Abia State Governor, Orji Uzor Kalu in an alleged N7.1bn money-laundering charges...

Ayade swears in Justice Akon Ikpeme as Cross River Chief Judge

Twice rejected by the State House of Assembly for being a security threat Justice Akon Bassey Ikpeme was on Monday sworn-in by Cross River...

Court orders forfeiture of Yari’s N284m to FG

A Federal High Court in Abuja on Tuesday ordered a final forfeiture of about N284, 306, 294.04 linked to a former governor of Zamfara,...

Court reverses dismissal of 3 police officers, orders recall

Justice Elizabeth Oji of the Lagos Judicial division of the National Industrial Court has nullified the purported dismissal of Mufutau Olaosun, Temitope Adebayo, and...

Court acquits lawyer of stealing N50.2m from Domino Stores

An Ikeja High Court on Wednesday acquitted a lawyer, Yetunde Sousa, accused of stealing N50.2Million from Dominos Stores and Ozone Cinemas. Delivering judgment, Justice Raliat...