•House of Representatives
The House of Representatives have passed the Money Laundering Amendment bill has been passed for a second reading.
The bill if amended and passed into law, will improve the nation’s anti-corruption framework, improve the recovery of illegally acquired funds from suspects, reports Daily Independent.
The bill, sponsored by Hon. Yusuf Gagdi (Kanke/Pankshin/Kanam Federal Constituency, Plateau State), aims to modernise the nation’s anti-graft laws in response to the evolving complexity of financial crimes.
Leading debate on the bill, Gagdi described money laundering and illicit financial flows as major governance challenges, noting that despite existing laws, large volumes of illegal funds continue to circulate through Nigeria’s financial and property sectors using sophisticated schemes.
He explained that the amendment introduces a civil recovery mechanism to allow the government to reclaim assets linked to unexplained wealth without requiring a criminal conviction.
“While the current Act focuses on criminal prosecution and forfeiture, it places a heavy evidential burden on law enforcement agencies,” Gagdi said.
“The proposed civil model complements this by shifting the burden of proof to individuals in possession of questionable assets.”
He added that similar models in the United Kingdom, Kenya, and South Africa have proven effective in deterring corruption and promoting accountability.
The proposed amendment would: Establish a clear legal framework for civil recovery orders;
Empower anti-graft agencies such as the EFCC to seek ex parte court orders to restrain assets inconsistent with legitimate income; and ensure a transparent judicial process.
