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Senate Receives Money Laundering Bill

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The Senate has received the Money Laundering Bill and Terrorism Prevention Bill transmitted by the President Muhammadu Buhari.

In a letter Buhari said the request for the passage of the bills was pursuant to the provisions of Section 58(2) of the 1999 Constitution as amended.

He noted that the deficiencies in the country’s Anti-Money Laundering/Combating the Financing of Terrorism regime make it imperative for the passage of the bills.

The President warned that the non-passage of the bills poses a risk that may lead to the eventual blacklisting of Nigeria.

Written by: Helen Obih

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