Senate seeks swift prosecution of money launderers, terrorist financiers
Senate moves against public servants with unexplained sources of wealth
By Emma Ogbuehi
The Senate on Wednesday held a minute silence to mourn the killing of over 120 Nigerians by bandits at the Gorony market in Sokoto State.
The grief in the upper chamber came as it considered two critical bills seeking to facilitate the swift prosecution of money launderers and terrorist financiers in Nigeria.
The attention of the upper chamber was drawn to the Sokoto incident by Senator Ibrahim Gobir through a point of order during the start of plenary.
According to the lawmaker, the massacre of the victims by bandits occurred on Sunday, October 17, 2021.
Coming under Order 43 – Personal Explanation – of the Senate Rules, Gobir said, “on Sunday, 17th October, 2021, Gorony market was attacked, and about 120 plus people killed.
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“The terrorists came to the market and started shooting every person they saw in the market.”
He disclosed that in seven villages within some local government areas of the state, residents are compelled by bandits to pay levies between N1 million and N20 million.
Gobir gave the affected villages to include: Kwarangamba, Garki, Danadua, Katuma, Kurawa and Dama.
The lawmaker lamented that failure to meet the demand imposed by the bandits in the affected areas had severally led to the killing of the villagers.
Gobir expressed frustration that in spite of consistent pleas to security agencies to come to the rescue of the affected communities, nothing has been done so far by the military and police to intervene in the plight of the people.
He further disclosed that the failure of the military to come to the rescue of the villagers has emboldened the terrorists to install their own representatives as village heads in some areas of Sabon-Girin Local Government.
“The terrorists are now installing their village heads in some areas of Sabin-Girin local government.
“In Gangara, they replaced the village head with Dan Bakkolo, the next in command to a known terrorists called Turji.
“In Makwaruwa, they installed Dan Karami (a terrorist) as Maigari”, Senator Gobir said.
Earlier on Tuesday, the Senate had considered two critical bills seeking to facilitate the swift prosecution of money launderers and terrorist financiers in Nigeria.
The bills when passed into law would also provide the needed framework for the prosecution of public servants with unexplained sources of wealth.
The bills are Money Laundering (Prevention and Prohibition) Bill, 2021, and Money Laundering (Prevention and Prohibition) (Repeal & Re-enactment) Bill, 2021.
Both bills which scaled second reading during plenary were sponsored by Senator Suleiman Umar (APC, Kwara North) and Suleiman Abdu Kwari (APC, Kaduna North).
Leading debate on the general principles of the first bill, Senator Umar explained that the legislation seeks to repeal the extant Act and enact the Money Laundering (Prevention and Prohibition) Act, 2021 to provide a more comprehensive legal and institutional framework for the prevention and prohibition of money laundering in Nigeria.
According to the lawmaker, the bill takes into consideration the changing patterns and manifestation of Money Laundering as an offense, which includes investment or funds transfer made or obtained fraudulently into legitimate businesses to make the illicit funds difficult to trace.
He explained further that the United Nations Office for Drug Control and Crime Prevention (UN-ODCCP) (1999) describes Money Laundering as the concealment or disguising of the true nature, source, location, disposition, movement rights with respect to or ownership of property, knowing that such property is derived from an offense.
He, therefore, added that the bill when enacted, would provide the framework for the prosecution of public servants with unexplained sources of wealth.
Umar said, “Mr. President, my Distinguished Colleagues, many public servants who are entrusted with managing public funds for the benefit of the larger society are often accused of creating phantom companies, over-pricing of contracts, use of fronts to pay for contracts not executed or poorly executed while others have been accused of carting away huge sums of public funds and stashing it in foreign bank accounts.
“It is against this background that successive administrations paid attention to the prevention, prohibition and punishment of money launderers.”
The lawmaker gave some of the earliest legislations introduced in Nigeria to tackle the menace of money laundering to include: the Money Laundering (Exchange Control (Anti Sabotage) Decree No.7 1984; the National Drug Law Enforcement Agency Decree No. 48 of 1989 (now CAP 29 Law of the Federation of Nigeria, 2004; the Money Laundering (Prohibition) Act, 2003; and the Money Laundering Decree No.3 of 1995.
He noted that the defects and inadequacies of previous legislations on Money laundering led to a series of legislative reforms which culminated into the enactment of the Money Laundering (Prohibition) Act, 2011.
He said the Bill under consideration however seeks to repeal and enact to make provisions for a comprehensive and effective anti-money laundering legislation, taking into consideration the changing patterns and techniques now being employed by money launderers in today’s global village driven by technological advancement.
Contributing to the debate, Senator Smart Adeyemi (APC, Kogi West), who threw his weight in support of the bill, said the legislation when enacted, would allow government probe those who have held public offices with unexplained sources of monies and properties within and outside the country.
He added that the present administration has tackled the issue of corruption headlong more that previous governments in the history of Nigeria.
“There is no doubt that this government, more than any government in the history of our country has taken the crusade against money laundering and corruption as a task that must be achieved.
“Mr. President, there is no doubt that billions of dollars and pounds abroad have been siphoned from our system to foreign nations, especially by those who have held political offices in the past.
“In seconding this bill, Mr. President, I want to say we must equally look at how we can enlarge the net of exposing and arresting those who have siphoned money out of this country.
“This bill must take into consideration, public holders and their immediate families who have properties abroad, to give account of how they acquired these properties.
“In this country, many people who have held public office in times past, what they have done is to siphoned monies abroad to buy properties in the names of their wives and children.
“I want to submit, Mr. President, that there is need to do an x-ray of all who have held public office in Nigeria, to look at how they acquired their properties, and their children and immediate families. That is when we can be seen to be fighting corruption.
“Anybody who has held public in times past, should be ready to give account.
“Our country is bleeding, there is no job, people are dying of poverty. I support this bill”, Adeyemi said.
The Money Laundering (Prevention and Prohibition) Bill, 2021, and Money Laundering (Prevention and Prohibition) (Repeal & Re-enactment) Bill, 2021, after consideration were both referred by the Senate President, Ahmad Lawan, to the Committee on Anti-Corruption and Financial Crimes for further input.
The Committee which chaired by Senator Suleiman Abdu Kwari, was given four weeks to report back to the upper chamber.