SAN FRANCISCO, May 30, (THEWILL) – The Nigerian Senate has passed the executive Bill seeking to enlist international assistance in the country’s efforts to tackle criminal matters, including money laundering, asset acquisition from proceeds of corruption and other forms of illicit financial flows.
The Bill, Mutual Legal Assistance in Criminal Matters Between Nigeria and Other Foreign Countries, SB 224, 2017, was passed on Tuesday after scaling through third reading following the presentation of the joint report on the bill by the Senate committees on Foreign Affairs, chaired by Monsurat Sunmonu (APCOyo); Judiciary, Human Rights and Legal Matters, chaired by David Umaru (APCNiger); and, AntiCorruption, chaired by Chukwuma Utazi (PDPEnugu).
THEWILL recalls that President Muhammadu Buhari had sent the bill, and the Money Laundering Prevention and Prohibition, to the Senate on January 27, 2016, to get relevant international assistance in cases of money laundering and provide framework for other countries to assist Nigeria in provision of and obtaining of evidence and making arrangements for persons to give evidence.
The bill also hopes to elicit international assistance in criminal investigations, recovery, forfeiture or confiscation of property in respect of offences; the restraining of dealings in property or the freezing of asset that may be recovered, forfeited or confiscated in respect of offences and the execution of request for search and seizure, the location and identification of witnesses and suspects.
With the approval of the bill by the Senate, a similar approval by the House of Representatives is required before a joint approval by the National Assembly before it will be sent to the President for assent.
However, there is no report yet on the Money Laundering Prevention and Prohibition Bill.
