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Buhari Signs Anti-money Laundering, Counter-terrorism, Crime Proceeds Bills

Published

2 years ago

May 13, 2022

Editor

Pesident Muhammadu Buhari, on Thursday, signed into law, three bills; 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.

According to a statement signed by the Special Adviser to the President on Media and Publicity, Femi Adesina, the pieces of legislation are meant to improve the anti-money laundering and counter-terrorist financing/proliferation financing framework in the country.

The statement was titled, ‘In the renewed fight against money laundering, terrorism and other financial crimes, President Buhari signs three bills into law.’

Speaking at a signing ceremony at the Council Chamber, State House, the President described the bills as being in tandem with his regime’s commitment to fighting corruption and illicit financing activities, as well as critical to the governance agenda and the development of Nigeria.

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.

“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.”

He added, “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.”

He said the repeal of the Terrorism (Prevention) Act, 2011 as amended in 2013, and enactment of the Terrorism Prevention and Prohibition) Act, 2022 provides for the effective implementation of international instruments for the prevention and combating of terrorism and suppression of the financing of terrorism.

The President told those in attendance that the executive arm of government “carefully avoided creating another asset recovery and management agency with its cost implications in deference to government’s sensitivity to the rising cost of governance.”

He explained that the new law mandates 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.”

PUNCH.

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Paul Kagame, Chimamanda Adichie, Aig-Imoukhuede, Other Africans Make Top 100 Influential Global

Published

24 mins ago

May 18, 2024

Editor

Combo of Paul Kagame, Chimamanda Adichie, Aigboje Aig-Imoukhuede,Remi Dairo.

Rwanda President, Paul Kagame, Nigeria’s Chimamanda Adichie, and Aigboje Aig-Imoukhuede, have been listed among top 100 influential global voices 2023/24.

Others list are president, the president , Institute of Productivity and Business Innovation, Africa and the Chief Operating Officer of Productivate Plus LLC, headquartered in Houston, Texas, Mr Remi Dairo; Adebayo Ogunlesi; Jumoke Adenowo, Ibukun Awosika; Malala Yousafzai, Strive Masiyiwa, Sheikh Mohammed Bin Rashid Al-Maktoum.

In recognition of this groundbreaking record, Dairo was honoured by the Leaders Without Borders Development Centre at the event which took place on 19th April at House of Lords, Palace of Westminster, United Kingdom in recognition of being a global voice.

Commenting, Dairo said, “I feel so excited and motivated for the journey of my efforts and contribution to productivity in the community is globally recognized. The journey started in Nigeria as the School of Productivity in 2007 and metamorphosed into the Institute of Productivity and Business Innovation (IPBiM) in 2017.”

Remi Dairo is the president of the Institute of Productivity and Business Innovation Management (IPBIM), a distinguished African institution with global outreach that globally focuses on African institutions of productivity and innovation learning. The institution is in partnership with some of the world’s best institutions around the globe.

Headline

Disregard Claim Of Me Bringing Investors To Nigeria – Ngozi Okonjo-Iweala

Published

11 hours ago

May 18, 2024

Editor

The Director-General of the World Trade Organization, Ngozi Okonjo-Iweala, has denied sending a WhatsApp message claiming she’s bringing investors to Nigeria due to Tinubu’s “commendable policies”.

A message had been circulating on Whatsapp alleging that former Minister of Finance has been contacted by President, respected instutitions and investors who congratulated her because Nigeria has finally found a “focused leader.”

Anything forwarded to you purporting to be a WhatsApp message from me is fake – Ngozi Okonjo-Iweala debunks news claiming she?s bringing investors to Nigeria due to Tinubu?s ?commendable policies?

Reacting via her X handle, Okonjo-Iweala described it as fake. She wrote;

‘’It’s been brought to my attention that another FAKE message has been manufactured and is being forwarded on WhatsApp in my name. I want to make clear that this fake message is not from me. I am pleased that those who know me instantly recognized this as fake.

“Thanks to friends who brought this to my attention. Please be aware that I do not use WhatsApp broadcasts, thus anything forwarded to you purporting to be a WhatsApp message from me is FAKE.

“This is a bad example of the use of social media. I want to warn those in the business of manufacturing FAKE messages, that they will not succeed.”

Headline

Moment Man Falls 40 Feet Onto Police Van After Climbing Building For ‘Drugs Stash’ [VIDEO]

Published

12 hours ago

May 17, 2024

Editor

This is the shocking moment a man fell 40 feet onto a police car and landed on the concrete road after climbing a building for a “drugs stash”.

The alleged drug dealer was trying to escape from police when he decided to jump from an apartment building in northern Brazil on Sunday night, May 12.

In response to the arrest of a teenager for drug-related offences in Marechal Floriano, the Espirito Santo Military Police launched an operation targeting neighbourhood drug dealers.

Authorities apprehended a 17-year-old youth carrying cocaine as he was making his way to the building to sell it to a 31-year-old man. The officers then had their attention drawn to a noise coming from an apartment building.

When they looked up at a window on the third floor, they saw two men attempting to escape.

One of the individuals involved jumped out, landed on the rear-view window of the police SUV and quickly ran away. But the escape didn’t work out as well for his 26-year-old accomplice.

In footage captured on a smart phone video, he is seen trying to climb down before losing his balance and hitting his head on the window.

He ended up on the floor beside the police car.

The unnamed suspect was quickly taken to Dr. Arthur Gerhardt Hospital by the Military Police for treatment of trauma. He was then moved to São Lucas Hospital and handed over to the police.

The suspect will be moved to a nearby jail once he is fit and ready to leave.

During the home search cops seized 295 crack rocks, 45 packages of cocaine, 10 grams of crack and 189 grams of cocaine paste, as well as $116.

The man who was supposedly meeting the teenager to buy drugs was released as cops lacked sufficient evidence to accuse him of actually making the purchase.

Meanwhile the teen admitted to drug trafficking in a logbook and was released to his family.

Watch a video from the scene below.