Buhari To Halt Nigeria’s Blacklisting, Request Senate To Pass Money Laundering, Terrorism Bills
President Muhammadu Buhari has moved to prevent Nigeria from being blacklisted as he has transmitted the Money Laundering Bill and Terrorism Prevention bill to the Senate for consideration and passage. NAIRAMETRICS reports.
The bills which were introduced to take care of identified deficiencies in Nigeria’s Anti-Money Laundering and terrorism laws were accompanied by a letter read at plenary on Thursday by Senate President Ahmad Lawan. Information Guide Nigeria
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Buhari, in the letter dated April 12, said the request for the passage of both bills was in pursuant to the provisions of Section 58(2) of the 1999 Constitution as amended.
He added that the deficiencies in the country’s Anti-Money Laundering/Combating the Financing of Terrorism regime (AML/CFT), make it imperative for the passage of both bills.
Buhari in the letter said: “Pursuant to Section 58(2) of the 1999 Constitution of the Federal Republic of Nigeria (as amended), I forward herewith, the Money Laundering (Prohibition) Bill, 2022 and Terrorism (Prevention) Bill, 2022 for the kind consideration of the Senate.
“During the recent Mutual Evaluation carried out by the Inter-Governmental Action Group against Money Laundering in West Africa (GABA) there were observed deficiencies in Nigeria’s Anti-Money Laundering/Combating the Financing of Terrorism regime (AML/CFT).
“Following the evaluation, the Ministry of Justice and other relevant stakeholders reviewed said deficiencies and drafted the Money Laundering (Prohibition) Bill, 2022 and Terrorism (Prevention) Bill, 2022″. jamb results
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“Unless these deficiencies are addressed promptly by the National Assembly, to bring our legal regime in conformity with Financial Action Task Force (FATF) recommendations, Nigeria will face the risk of a negative public statement blacklisting the country by FATF.
“This will lead to some negative consequences to our rapidly growing economy.
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Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to Canada“In light of the above, Federal Ministry of Justice reviewed the Money Laundering (Prohibition) Bill and Terrorism (Prevention) Bill before the National Assembly and have come up with revised versions of the Bills, incorporating the resolutions to the deficiencies pointed out in the Mutual Evaluation Report, thereby bringing Nigeria’s AML/CFT legal regime in conformity with the FATF recommendations.’’
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