Reps transmits bill on proceeds of crime for Buhari’s assent

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The National Assembly has transmitted the Proceeds of Crime Bill to President Muhammadu Buhari for assent.

It is aimed at boosting the fight against corruption.

The bill, which was transmitted on Monday, is considered as one of the key legal instruments in the fight against corruption.

Chairman of the House of Representatives Committee on Financial Crimes, Kayode Oladele, confirmed this in an interview with journalists in Abuja.

He said the Proceeds of Crime Bill, 2017 was a 12-part legislation which would make provisions for the confiscation, forfeiture and management of property derived from unlawful activities.

He said it would be a landmark in the effort to stem the tide of corruption in the country when the President assented the bill.

The Proceeds of Crime Bill, 2017 (HB 872) was read for the first time on December 7, 2016.

On January 18, 2017, the House referred the bill to the Committee of the Whole for consideration, pursuant to Order XII Rule 16 of the House of Representatives Standing Orders.