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

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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.

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EFCC Grants Bail to Two Kogi Officials, wants Yahaya Bello’s Fraud Case adjurned

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The Economic and Financial Crimes Commission (EFCC) has granted administrative bail to two co-defendants, Umar Oricha and Abdulsalami Hudu, in a fraud case involving former Kogi State Governor, Yahaya Bello. The case, centered on charges of fraud totaling N101.4 billion, has been adjourned until November 27, 2024, by the Federal High Court in Abuja.

At the hearing before Justice Maryann Anenih, EFCC Counsel Jamiu Agoro requested an adjournment, noting that the 30-day compliance period for Bello’s summons, issued on October 3, had not yet expired. Agoro explained that the November 20 court date was inconvenient for the prosecution, and that seeking an arrest warrant would be premature as Bello still had a few days to respond to the summons.

Both the second and third defendants’ legal representatives supported the adjournment request.
Following this, Justice Anenih approved the EFCC’s request, extending the deadline for Bello’s appearance and authorizing service of the hearing notice to be sent to his last known address.

In a parallel development, the Federal Capital Territory (FCT) High Court in Maitama ordered a hearing notice to be posted at Bello’s residence on Benghazi Street, Wuse Zone 4, Abuja, and on the court’s notice board.
This step follows multiple missed court appearances by Bello since the public summons was issued, urging him to appear for arraignment on 16 counts related to the alleged fraud.

Justice Anenih emphasized the importance of due process, setting November 27, 2024, as the final date for Bello’s court appearance. This case has drawn attention to the EFCC’s efforts to enforce accountability among high-profile figures in Nigeria amidst allegations of large-scale financial mismanagement.

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Appeal Court Sacks MC Oluomo as NURTW National President, Reaffirms Baruwa’s Leadership

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Musiliu Akinsanya

In a significant development, the Court of Appeal has annulled the appointment of Musiliu Akinsanya, popularly known as MC Oluomo, as the National President of the National Union of Road Transport Workers (NURTW).
The ruling upheld a previous ruling by the National Industrial Court, which had already recognized Tajudeen Baruwa as the rightful leader of the union.

The legal dispute surrounding the NURTW’s leadership has been ongoing, with tensions escalating within the organization.
Despite the court’s ruling in favor of Baruwa, MC Oluomo was recently elected by the Southwest Zone of the union during the Quadrennial Delegate Conference held last week in Osogbo, Osun State.
This election took place amid growing concerns and disputes within the union’s regional factions.

The Appeal Court’s decision is expected to settle the leadership question, restoring Tajudeen Baruwa’s position as the legitimate National President of the NURTW.
However, the union faces potential challenges in maintaining unity across its various regional branches, as supporters of MC Oluomo continue to advocate for his leadership.

This ruling marks a pivotal moment for the NURTW, as it works to stabilize its governance and address internal divisions that have led to several controversies and disputes over recent years.

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Supreme Court Rejects States’ Legal Challenge to EFCC’s Constitutionality

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The Supreme Court of Nigeria has thrown out a lawsuit brought by several state Attorneys General challenging the constitutional validity of the Economic and Financial Crimes Commission (EFCC). The case, led by Kogi State, questioned the EFCC Act, arguing that it bypassed constitutional requirements regarding international treaties.

The seven-member panel, headed by Justice Uwani Abba-Aji, ruled unanimously to reject the lawsuit, deeming it without merit. Kogi State’s counsel, Mohammed Abdulwahab, SAN, argued that the EFCC Act’s incorporation of the United Nations Convention Against Corruption was unconstitutional, as the law had not received approval from a majority of state Houses of Assembly, as required by Section 12 of the 1999 Constitution. This, he claimed, invalidated the EFCC Act and similar anti-corruption laws.

The plaintiffs also contended that the EFCC and NFIU lacked the authority to investigate state or local government funds, accusing the agencies of encroaching on state powers. Abdulwahab sought a court ruling to nullify the creation of these agencies, arguing it would prevent a potential constitutional crisis.

Attorney General of the Federation, Lateef Fagbemi, SAN, defended the EFCC, asserting that dismantling Nigeria’s anti-corruption agencies would harm the nation’s efforts to combat financial crimes. He argued that the National Assembly has the authority to create laws applicable nationwide to address corruption.

The court ultimately upheld the EFCC Act, ruling that the National Assembly’s legislative powers on corruption are valid and enforceable across all states. Justice Abba-Aji noted that Kogi’s revelations about state officials being investigated exposed ulterior motives behind the lawsuit, describing it as an attempt to shield certain officials.

“No state has the right to enact laws that contradict the statutes passed by the National Assembly,” Justice Abba-Aji said, delivering the judgment. The court dismissed the suit in its entirety, reaffirming that the EFCC Act and other federal anti-corruption laws remain constitutional and enforceable across Nigeria.

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