Buhari seeks stiffer penalty for money launderers

 
Buhari seeks stiffer penalty for money launderers: President Muhammadu Buhari on Wednesday introduced two bills to the National Assembly to strengthen the war against money laundering.
The bills were titled, “The Money Laundering (Prevention and Prohibition) Bill, 2016” and “The Mutual Legal Assistance in Criminal Matters Bill, 2016.”
The Senate President, Dr. Bukola Saraki, read the letter containing the bills at plenary on Wednesday while at the House of Representatives, the Speaker, Mr. Yakubu Dogara, read Buhari’s letter conveying the bills to members.Buhari in the letter stated that the first bill sought to repeal the existing Money Laundering Act, which was enacted in 2011 to provide for stiffer penalty for money launderers to discourage the illegal act.
On the second bill, the President explained that its aim was to make provisions that would enable Nigeria to seek international assistance in recovering looted funds.

Comments

Popular posts from this blog

Three die as Biafran group, NAVY clash

A bit of Justice to Wike