FRCN HQ
Crime Headline National News Nigeria

Buhari advocates amendment of money laundering, terrorism bills

President Muhammadu has requested the House of Representatives to consider the Money Laundering Prohibition Bill 2022 and Terrorism Prohibition Bill 2022 as measures to strengthen the fight against financial crimes in the country.

In a communication read by the Deputy Speaker Ahmed Idris-Wase, who presided over the plenary, President Buhari said the bills were to amend the deficiencies noted in the anti-money laundering bills to conform with the global practices.

A recent evaluation by the Inter-Governmental Action Group Against Money Laundry in West Africa pointed out deficiencies in the Nigerian Anti-Money Laundering Act by including the financing of the terrorist regime in the Act.

The proposal by the Executive Arm was to amend the Anti Laundering Act by separating the Terrorism aspect from the Act.

Reporting by Ibrahim Shehu; editing by Muzha Kucha