Senate Makes Fresh Move On Proceeds Of Crime Bill | READ DETAILS

Senate Makes Fresh Move On Proceeds Of Crime Bill | READ DETAILS

By Nancy Okafor:

The Nigerian Senate has moved to re-amend the Proceeds of Crime (Recovery and Management) Bill, 2022, passed by the chamber on March 9, 2022, last week.

The decision to re-amend the bill followed the consideration of a motion for re-commital sponsored by the Senate Leader, Yahaya Abdullahi.

In his presentation, Senator Yahaya Abdullahi, relied on Orders 1(b) and 52(6) of the Senate Standing Orders 2022 (as amended) to move for the amendment of the bill.

He explained that the re-amendment of the bill became imperative in view of the amendment that was made to Clause 74 which placed the Burden of proof on the investigating Agencies but not on the Defendant as recommended by the Joint Committee in its report.

On the need to amend the Clause 74 of the bill, Abdullahi said, the implication of the amendment is that civil forfeitures would be a thing of the past in Nigeria as there would not be final forfeitures without a conviction.

The Senate, thereafter, recommitted the bill to the committees on Judiciary, Human Rights and Legal Matters; and Anti-Corruption and Financial Crimes to engage the relevant agencies with a view to exploring safeguard against abuse.

The bill, when signed into law, would expand the mandates of existing statutory institutions to manage proceeds of crime, and facilitate the establishment of departments in relevant organizations to manage forfeited assets as well as provide for effective legal framework for the recovery of proceeds of crime.