• Home
  • ARTICLES
  • NEWS
  • BUSINESS
  • EDUCATION
  • ENTERTAINMENT
  • HEALTH
  • POLITICS
  • TECHNOLOGY
  • CRIME
  • METRO
  • SPORTS
  • ABOUT US
  • CONTACT US
  • PRIVACY POLICY
  • TERMS OF USAGE
    • ADVERTISE WITH US
DAILY GIST
  • Home
  • ARTICLES
  • NEWS
  • BUSINESS
  • EDUCATION
  • ENTERTAINMENT
  • HEALTH
  • POLITICS
  • TECHNOLOGY
  • CRIME
  • METRO
  • SPORTS
  • ABOUT US
  • CONTACT US
  • PRIVACY POLICY
  • TERMS OF USAGE
    • ADVERTISE WITH US
No Result
View All Result
  • Home
  • ARTICLES
  • NEWS
  • BUSINESS
  • EDUCATION
  • ENTERTAINMENT
  • HEALTH
  • POLITICS
  • TECHNOLOGY
  • CRIME
  • METRO
  • SPORTS
  • ABOUT US
  • CONTACT US
  • PRIVACY POLICY
  • TERMS OF USAGE
    • ADVERTISE WITH US
No Result
View All Result
DAILY GIST
No Result
View All Result

BREAKING: EFCC Boss, Bawa, AGF Malami Clash Over Forfeited Assets

Adam PR by Adam PR
February 17, 2022
in NEWS
0
BREAKING: EFCC Boss, Bawa, AGF Malami Clash Over Forfeited Assets
20.2k
SHARES
20.2k
VIEWS
Share on WhatsAppShare on TwitterShare on Facebook
Share This News

The EFCC chairman, Abdulrasheed Bawa and the attorney general of federation and minister of Justice, Abubakar Malami on Thursday has clashed over the establishment of an agency to manage forfeited assets.

This is coming after the Central Bank of Nigeria (CBN) kicked against proposed new anti-money laundering law instead of amending the existing Money Laundering (Prevention) Act 2011.

Bawa, Malami and other stakeholders spoke at a public hearing on three bills: “Money Laundering (Prevention and Prohibition) Bill, 2021”; “Public Complaints Commission (Repeal and Re-Enactment) Bill, 2022” and the “Proceeds of Crimes (Recovery and Management) Bill, 2021.”

The hearing was organised by the Senate Joint Committee on Anti-Corruption and Financial Crimes; Judiciary, Human Rights and Legal Matters as well as Ethics, Privileges and Public Petitions in Abuja.

On the Proceeds of Crimes (Recovery and Management) Bill, the Chairman of the EFCC said creating a new agency was not necessary since the anti-graft body is well positioned to handle such duties.

Bawa, who was represented by the Secretary to the EFCC, George Ekpungu, said: “On the proposed Proceeds of Crimes Bill, I will only mention two things, the first one is that we should remember the Federal Government’s white paper on the reduction of the establishment of new agencies.

ALSOREAD

Contempt: Fresh trouble for Bawa as over 250 Constitutional, human rights lawyers ask NJC to direct all courts to reject EFCC cases

Anti-corruption CSOs, constitutional lawyers petition Buhari, demand probe of EFCC under Bawa

EFCC Chairman, Bawa Asked To Resign Immediately

BREAKING: CBN Validates Old Notes As Legal Tender

BREAKING: Old Notes: Comply With Court Order – President Buhari Orders Emefiele

“I don’t think creating a new one that would manage the proceeds of crimes is necessary. This one is like a caveat. We remember the Presidential Panel on Investigation and Recovery of Public Property and what it almost foisted on the nation – crises, confusion and drawbacks.”

He noted that the proposed agency would lead to additional financial burden for the country.

Malami in his submission, said there was the need to set up a new agency to manage forfeited assets.

Malami, who was represented by the Deputy Director, Legal Drafting, Federal Ministry of Justice, Godwin Iheabunike, said: “We believe that the agency will not pose financial challenges for the country but would only help us to recover stolen revenues.

“It will handle civil forfeiture for us. Our agencies right now are handling criminal forfeitures which means we have to wait until they are done with prosecutions before they can now come back to do recovery.

“But now, this agency will do civil recovery. It would also help Nigeria to gain reputation in the global community.”

Meanwhile, the Governor of CBN, Godwin Emefiele, said an amendment to the existing Money Laundering (Prevention) Act 2011, would best serve the interest of Nigeria than a repeal and re-enactment bill.

“Where the existing Money Laundering (Prevention) Act 2011, is repealed and re-enacted, there would be new legal foundations which have not been assessed against the FATF (Financial Action Task Force) standards,” Emefiele, who was represented by a Director of the CBN, Mr Chibuzor Anthony Efobi, said.

This, he said, would bring about a new law that may likely be deficient in other areas not limited to the deficiencies identified in the Mutual Evaluation Report.

“Additionally, the new law will have to be completely reviewed by the FATF and GIABA (Inter-Governmental Action Group against Money Laundering in West Africa) for compliance with FATF recommendations.

“There will be a risk that the international assessment identifies new gaps which would lead to rating downgrades .

“Consequently, the CBN is opposed to the passage of the proposed bills for the repeal and re-enactment of the existing Money Laundering (Prevention) Act 2011. We have attached a copy of a proposed amendment to the 2011 Act for your consideration and necessary action,” he said

Kindly Share This News On Social Media

JOIN US ON TWITTER

Follow DAILY GIST on Twitter for more BREAKING NEWS

FOR ADVERTS, PUBLICATION AND PROMOTIONS, CONTACT DAILY GIST ON WHATSAPP – 09061956151

Share This News
Tags: Abdul-Rasheed BawaAbubakar MalamiAssetsCBNEFCC
Previous Post

JUST IN: Two Police Officers Sentenced To Death In Abuja

Next Post

How Arrested Abuja Beggar Made Her N500k, $100 – FCTA

Adam PR

Adam PR

AdamPR is a young Blogger, Reporter, Web Designer and a Microbiologist. For Adverts and Publications, He can be reached on WhatsApp - 07069173969

Related Posts

BREAKING: BVAS: INEC Wins Peter Obi In Court
NEWS

BREAKING: INEC Uploads Election Results Via BVAS

March 18, 2023
BREAKING: ICC Issues Arrest Warrant For Putin
NEWS

BREAKING: ICC Issues Arrest Warrant For Putin

March 17, 2023
Anti-corruption CSOs, constitutional lawyers petition Buhari, demand probe of EFCC under Bawa
NEWS

Anti-corruption CSOs, constitutional lawyers petition Buhari, demand probe of EFCC under Bawa

March 16, 2023
JUST IN: FG Proposes New Date For Census
NEWS

BREAKING: FG Shifts 2023 Population Census

March 15, 2023
JUST IN: President Buhari To Approve Revised Allowance For Corps Members
NEWS

JUST IN: President Buhari To Approve Revised Allowance For Corps Members

March 15, 2023
JUST IN: Emefiele Has Confirmed Re-circulation Of Old Notes – Soludo
NEWS

BREAKING: CBN Validates Old Notes As Legal Tender

March 13, 2023
Next Post
How Arrested Abuja Beggar Made Her N500k, $100 – FCTA

How Arrested Abuja Beggar Made Her N500k, $100 – FCTA

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

TRENDING NEWS

  • BREAKING: LP Governorship Candidate, GRV Loses Polling Unit To Sanwo-Olu

    BREAKING: LP Governorship Candidate, GRV Loses Polling Unit To Sanwo-Olu

    19712 shares
    Share 7885 Tweet 4928
  • BREAKING: INEC Postpones Governorship Election In Lagos

    19707 shares
    Share 7883 Tweet 4927
  • BREAKING: APC Campaign DG Found Dead

    19701 shares
    Share 7880 Tweet 4925
  • BREAKING: CBN Approves Circulation Of Old Notes

    19821 shares
    Share 7928 Tweet 4955
  • BREAKING: Tinubu Rules Out Govt Of National Unity

    19701 shares
    Share 7880 Tweet 4925
  • BREAKING: I Won Lagos Guber Election — LP Candidate, GRV

    19701 shares
    Share 7880 Tweet 4925
  • BREAKING: INEC Declares Adamawa Governorship Election Inconclusive

    20689 shares
    Share 8276 Tweet 5172
  • BREAKING: APC, PDP Clash In Oyo

    20426 shares
    Share 8170 Tweet 5107
  • BREAKING: Police Arrest APC Deputy Chairman

    20397 shares
    Share 8159 Tweet 5099
  • BREAKING: INEC Postpones Governorship Elections

    19724 shares
    Share 7890 Tweet 4931

DAILY GIST reports Latest News in Nigeria and aims to keep Nigerians updated and informed with Reports and Informations in the aspect of Education, Politics, Health, Business, Technology, Jobs, Entertainment. etc

  • Home
  • ABOUT US
  • CONTACT US
  • PRIVACY POLICY
  • TERMS OF USAGE
  • ADVERTISE WITH US
  • DESIGNED BY ADAMPR

DAILY GIST © 2020 | All Rights Reserved

No Result
View All Result
  • Home
  • ARTICLES
  • NEWS
  • BUSINESS
  • EDUCATION
  • ENTERTAINMENT
  • HEALTH
  • POLITICS
  • TECHNOLOGY
  • CRIME
  • METRO
  • SPORTS
  • ABOUT US
  • CONTACT US
  • PRIVACY POLICY
  • TERMS OF USAGE
    • ADVERTISE WITH US

DAILY GIST © 2020 | All Rights Reserved