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EFCC turns down new Money Laundering Bill

19 April 2016, 19:49

Abuja - The Economic and Financial Crimes Commission (EFCC) has rejected the new Money Laundering (Prevention and Prohibition) Bill 2016

The agency rejected the bill it believed it may prejudice President Muhammadu Buhari’s anti-corruption agenda.

It said passing the bill into law now will affect Nigeria’s application for the membership of the Financial Action Task Force (FATF).

To the agency, the bill seeks to divest EFCC of powers to probe offences bordering on economic and financial crimes. Besides, said the agency, it will, if passed into law, give the Attorney-General of the Federation (AGF) some discretion which may be abused.

It also faulted plans to establish a Bureau for Money Laundering Control (BMLC) for a service which is already being rendered efficiently by the Special Control Unit against Money Laundering (SCUML).

The EFCC, which made its stand known in a position paper presented to the National Assembly, spotted 12 gaps which it believes could impede the government’s anti-corruption.

Source: Nation

- News 24

Tags efcc nigeria

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