Connect with us

Law

PACAC clarifies on scope of Money Laundering Act 2022, Terrorism Act 2022

Published

on

The Money Laundering Act 2022 and the Terrorism Act 2022, are the new advance weapons used to tackle the two major national scourges of Terrorism and money laundering in the country, Chairman Presidential Advisory Committee Against Corruption, (PACAC) Itse Sagay has declared.
Speaking at a one day event in Abuja on Thursday, Sagay noted that the scope of the Acts exceeds not only what was normally considered as money laundering, but also institutions and provisions, not contained in the 2011 Act.

He said that the emphasis on the inclusion of non-financial institutions within the operations of the Act was an acknowledgment of the significant financial activities of Lawyers, and Accountants particularly, who engage in the movement of money on behalf of their Clients.

“Thus the scope of this Act is very comprehensive and greatly exceeds what we normally consider as money laundering.

“For example, it creates a new body within the EFCC called The Special Control Unit for the effective implementation of money laundering provisions of the Act in relation to the designated non-financial businesses and professions

“The standard meaning of Money Laundering is limited to laundering dirty money, 1.e., investing money obtained by unlawful means into another business which obscures or obliterates the origins of the money invested.
“Blacks Law Dictionary (8 Edition) defines it as “The Act of transferring illegally obtained money through legitimate people or accounts, so that it original source cannot be traced. P. 843.

“It is for this reason I believe, that the draftsman did not include the definition of Money Laundering in the Act. It is a sweeping piece of legislation which covers every type of illegitimate financial transaction not only through the banks, but also through non-financial bodies and even between individuals.
“Technically giving anyone a gift of money above 5 million naira, outside the banking system is an offence. Even if a transfer of funds is within the permitted limits, but is the proceed of a crime to the knowledge of a bank or of a non-financial institution, it must be reported to the EFCC. This clearly demonstrates the illegality of money

“Spraying at parties particularly when the sums sprayed exceeds N5 million or its equivalent in other currencies,” Sagay revealed.

The PACAC Chairman explained that it was clear that the new Act’s sweeping provisions were meant to guarantee that no unlawful transaction could go outside the ambit of the EFCC
as the present situation in which financial crimes Proliferate so much that it is almost choking the country’s economy.

He disclosed that the Terrorism Prevention and Prohibition Act 2022 was also going to repeal the Terrorism (Prevention) Act 2011 in order to expand the provisions of the earlier Act and Provide an Effective, Unified and Comprehensive Legal Regulatory and Institutional Frame Work for the Detection, Prevention, Prohibition, Prosecution and Punishment of Acts of terrorism or terrorism financing, Proliferation of Terrorism and Proliferation of Weapons of Mass Destruction in Nigeria.

He said that the Act was promulgated as part of international cooperation with the United Nations and its member States to suppress and eliminate acts of terrorism everywhere in the World.

According to Sagay, this gives Nigeria the power to proclaim a person or any entity a terrorist or terrorist financier, it also gives Nigerian Court’s extra/territorial jurisdiction in relation to terrorism financing which also contains provisions for freezing, search and seizure, confiscation and forfeiture of terrorist property.

He acknowledged that it was encouraging that Nigeria has now engaged in more vigour in the war against terrorism adding that there must be no quarter to terrorists, who constitute a blight to the individual and collective existence in Nigeria.

Also the Executive Secretary, PACAC, Professor Sadiq Isah Radda called on the media and Civil Societies to perform their duties of informing the public about the fight against corruption and the efforts that have been applied to bring the menace to its bearest minimum by the government and relevant agencies as this could be better done or propagated by the media.

The Executive Secretary said that the Government was making efforts to fight the menace of corruption because this fight was not a choice but a necessity for the development of the country adding that “people who have stolen from the common wealth of the nation should not be allowed to enjoy this proceeds of the crime.”

He also stated that money laundering was a big problem not only on the part of apprehending the perpetrators but also in terms of spreading the awareness and knowledge of the laws that are put in place to fight corruption which noting that there was no going back in fight against corruption, terrorism and money laundering it as long as this present administration was concerned.

Continue Reading
Click to comment

Leave a Reply

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

Law

Court remands man over sodomy with 2 sons

Published

on

By

Court remands man over sodomy with 2 sons

By Friday Idachaba, Lokoja.

A Lokoja Chief Magistrate Court has remanded a middle aged man, Dan Sokoto Shaibu in Federal Correctional Centre, Koton-Karfe for allegedly indulging in sodomy, (Homosexuality) with his two biological sons.

The Chief Magistrate, Memunat Abdullahi of Lokoja Chief Magistrate II gave the order in a preliminary ruling upon arraignment of the accused person in the court.

The prosecuting Police Officer, Gabriel Otowu Esq. who is also the Officer-In-Charge, Legal matters (OC-Legal) at Kogi Police Command while reading the First Information Report (FIR) said the accused had serially abused the two underaged children.

He said that the Shaibu had over time, indulged in annal sexual intercourse with his two biological sons, Abubakar, 17 and m Habeeb, 11 in their house.

He said that the act was country to and punishable under Section 292 of Kogi State Administration of Criminal Justice Law.

The Prosecuting Counsel, Otowu, in his submission said investigation into the matter was on-going and therefore, presented a motion urging the court to remand the accused in the Federal Correctional Centre Koton-Karfe.

Otowu who supported the motion with a 7-paragraph affidavit and Form 8 as required by the Law, argued that the court had jurisdiction to hear the case.

The OC Legal said that there was need to remand the accused in prison custody to check his possible interference with police investigations.

He urged the court to grant the application saying that it would enable the police to carryout thorough investigation into the matter.

The accused, Dan Sokoko Shuiabu who pleaded guilty to the charge, confessed that he committed under the influence of alcohol.

He said that he was married to four wives three of whom divorced him while he lost the last one to cold hands of death adding that his first daughter was already married with three children.

Chief Magistrate Memunat Abdullahi in her preliminary ruling, held that having perused the exparte motion and the supporting affidavit she had no choice than to grant the application.

She therefore ordered the remand of the accused in the custody of Federal Correctional Centre, Koton-Karfe and adjourned to September 9th, for hearing. (Ends)

Continue Reading

Law

Tension builds as Court delivers landmark ruling in Yahaya Bello vs EFCC suit

Published

on

By

Yahaya Adoza Bello

There is palpable tension following a landmark ruling by the Court of Appeal ordering former Kogi State Governor Yahaya Bello to present himself for arraignment and face fraud charges.
The court also barred Bello from taking any further steps to halt the charges unless he is arraigned by the Economic and Financial Crimes Commission (EFCC).
The ruling is coming following Bello’s perchance for evading arrest and refusing to appear in court, attempting to have the case relocated to Kogi State, or stalled due to technicalities.

The Court of Appeal’s decision puts an end to Bello’s efforts to delay or relocate the trial, requiring him to appear in court to answer to the fraud charges concerning his actions as governor from 2015-2023

Continue Reading

Law

Imo Guber: LP tells S/Court to act decisively, uphold electoral laws, cancel polls

Published

on

By

The Labour Party (LP), on Monday urged the Supreme Court to act decisively to uphold the electoral laws by cancelling the results of the 2023 Imo Governorship election, as announced by the Independent National Electoral Commission (INEC).
The National Publicity Secretary of the party, Obiora Ifoh, who gave the indication om Monday at a news conference in Abuja said the Party’s search for justice is in the greater interest of the people of Imo State and democracy.
Recall that the Court of Appeal Abuja, had dismissed the appeal by the Labour Party and its candidate, Athan Achonu for lack of merit.
It also dismissed the Appeal by the Peoples Democratic Party (PDP) and its candidate Samuel Anyanwu and the Allied Peoples Movement (APM) for also lacking in merit.
The appellants who were dissatisfied with the tribunal Judgment, had approached the court of appeal on grounds that the November 11, 2023 election, was invalid because of non-compliance with the provision of the Electoral Act.
The appellants also challenged Uzodimma’s qualification with an allegation that his WAEC Certificate of Education result, was forged.
But the court of appeal held that the appellants in their appeal, failed to prove the allegation of non-compliance as alleged.
The three-man panel led by Justice Bitrus Sanga also held that the appellants failed, to prove that the governor submitted a forged certificate.
continuing Ifoh at the conference said, “The importance of justice in the governance of Imo State cannot be overstated.
“Labour Party and its candidate in the November 2023 governorship election in Imo state, Senator Athan Achonu have one more chance in the Supreme Court to right the wrongs meted to the Imo electorates who are forced to tolerate a government they never wished for themselves.

“Recall, also that in 2020, Imo state was a victim of controversial decision that dramatically altered the political landscape of the state.

“Despite clear evidence of over-voting, which should have led to the cancellation of the election, the court handed the governorship to a candidate in the face of over voting.

“These decisions in both 2020 and 2023, not only contradicted the principles of fairness and transparency but also set a dangerous precedent that undermines the integrity of our electoral process.

“As we approach another Supreme Court judgment, the question of over voting rears its head again.

“If it scales through again, it means that over voting will become an unwritten law of electoral jurisprudence in Imo state.

“It is therefore imperative that the Supreme Court corrects this miscarriage of justice. The future of Imo State’s development hinges on the rule of law and the public’s trust in our judicial system.
Related News

“A just and fair resolution in the current case before the court will not only restore confidence in our democracy but also pave the way for genuine progress and development in Imo State.

“The people deserve a leadership that truly reflects their will, and the time for justice is now. “

Giving insights into why the party took the matter to the highest court in the land, Ifoh said, “First, the integrity of the electoral process is the cornerstone of any democracy, and in Nigeria, our electoral laws are designed to ensure that the will of the people is accurately reflected in election outcomes.

“Unfortunately, in the case of the recent Imo State governorship election, these laws were blatantly disregarded by both the election tribunal and the appeal court, leading to a grave miscarriage of justice.

“The issue at hand is clear: the total number of certified accredited voters for November 2023 governorship election, as certified by INEC, was just over 500,000.

“However, the total votes counted, which was used to declare the candidate of APC winner exceeded 700,000, resulting in an over-voting discrepancy of more than 200,000.

“We had raised this issue during the election as we had clear evidences of abuse of electoral practices including falsification and mutilation of result sheets, harassment of the Labour Party’s agents, snatching of ballot boxes and open vote buying.

“According to Section 53 of the Electoral Act 2010 (as amended), any election marred by over-voting should be canceled.

“This provision is unambiguous and does not leave room for alternative interpretations. The law was crafted to protect the sanctity of the electoral process and ensure that elections are free, fair, and reflective of the voters’ true choice.

“Regrettably, despite the overwhelming evidence of over-voting, both the election tribunal and the appeal court failed to apply this clear legal standard.

“ Instead, they chose to validate an election result that is fundamentally flawed and legally indefensible.

“This is not just a violation of the law but also a profound injustice to the people of Imo State, who deserve a leadership that genuinely reflects their will.

“The situation is eerily reminiscent of the Supreme Court’s controversial decision in 2020, where a similar issue of over-voting was overlooked, leading to the installation of a candidate who had initially placed third.

“Such judicial oversights undermine public confidence in the electoral system and threaten the very foundations of our democracy.

“The Supreme Court now has the opportunity to correct this injustice and restore faith in our legal institutions by upholding the law as it is written—clear, unambiguous, and without room for further interpretation.

“In yet another clear instance of miscarriage of justice, the petitioners in the Imo State governorship case faced significant obstacles in accessing crucial evidence, specifically the BVAS (Bimodal Voter Accreditation System) devices.

“Despite making formal requests for over 4,000 BVAS units, which were essential to prove their case of electoral malpractice, the petitioners encountered deliberate delays and obstructions.

“Only 30 BVAS units were eventually provided, and even then, only for partial inspection.

“Of utmost importance is that fact that the Imo State election took place in only 4,720 out of 4,758 polling units in Imo State.

“Labour Party has also noted that the direct implications of these rape on democracy could be the inability of the Imo citizens to submit and subject themselves to the present government which they believe was imposed on them.”

The LP Spokesman described the last four and half years of the Senator Hope Uzodinma administration as a disaster.

He reiterated that the socio -economic crises in the state assumed a dangerous height under his rule.

Ifoh maintained that under his rule, criminality has become the order of the day and the economic potentials of the state have completely frozen and the state has the inglorious record of being the worst in terms of infrastructure in the entire South East.

Speaking on what Imolites and the Labour Party expect from the court, Ifoh said, “The Supreme Court is expected to act decisively and uphold the electoral laws.

“Given the clear evidence of over-voting, which invalidates the election results according to the law, the Court should order the cancellation of the flawed election and mandate a fresh governorship election in Imo state.

“This action is essential to restore public trust and uphold the integrity of the judicial system.”

Continue Reading

Trending

Copyright © 2024 National Update