Buhari seeks passage of money laundering, terrorism prevention bills

Written by on April 14, 2022

President Muhammadu Buhari has transmitted the Money Laundering and Terrorism Prevention Bills to the Senate for expeditious consideration and passage.

The bills were accompanied with a letter read at the beginning of plenary by the Senate President, Ahmad Lawan.

Buhari, in the letter dated 12th April, 2022, said the request for the passage of both bills in line with the provisions of Section 58(2) of the 1999 Constitution (as amended).

He explained that the deficiencies in the country’s Anti-Money Laundering/Combating the Financing of Terrorism regime (AML/CFT) make it imperative for the passage of both bills.

Buhari warned that the non-passage of both bills poses a risk that may lead to the eventual blacklisting of Nigeria by the Financial Action Task Force (FATF).

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