Senate Holds Public Hearing On Money Laundering, Other Anti-Graft Bills Today

The Senate Committee on Anti-Corruption and Financial Crimes will on Thursday (today) begin a one-day public hearing on Money Laundering (Prohibition) Act and other anti-graft bills to strengthen the war against corruption.

The committee also invited stakeholders to attend the public hearing, saying there is the need for them to make their inputs to guide the lawmakers.
It also asked the stakeholders to submit their memoranda and suggestions, saying that their comments and suggestion should be in 20 hard copies and a soft copy in flash drive to reach the Committee Clerk on or before February 11, 2022.
According to the Senate Committee, the public hearing begins at about 11am.
The letter of the invitation for the public hearing reads in part, “1. A bill for an Act to repeal the Money laundering (Prohibition) Act. 201 I (As Amended) and Enact the Money Laundering (Prevention and Prohibition) Act to provide comprehensive legal and institutional framework for the Prevention and Prohibition of Money Laundering in Nigeria and Establish the Bureau for Money Laundering Control and Other Related Matters 2021 (SB 642).
ii. A Bill for an Act to repeal the Money Laundering (Prohibition) Act 2011 (As Amended) and Enact the Money Laundering (Prevention and Prohibition) and Enact the Money Laundering (Prevention and Prohibition) Act to provide comprehensive legal and Institutional framework to the Prevention and Prohibition of Money Laundering in Nigeria and Establish the Special Control Unit (SCUMOL) under the Economic and Financial Crimes Commission (EFCC) and Other Related Matters 2021 (SB 789).
iii. Public Complaint Commission (Repeal and Re-Enactment Bill 2022 SB 644.
iv. Proceed of Crime Recovery and Management Bill 2021 (till 645).
“As a follow up to referral made by the Senate of the Federal Republic of Nigeria to the Committee in respect of the foregoing Bills.
“The Joint Committees held series of meetings to further deliberate on the provisions of the Bills, and taking into account the views expressed by Senators during deliberation of the general principles of the Bills. The Joint Committees resolved to conduct a public hearing to elicit comments on the merits of the Bills from stakeholders and members of the general public.”

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