Nigerian president signs terrorism, money laundering bills

Nigeria’s President Goodluck Jonathan has signed into law two bills on terrorism prevention and the anti-money laundering.

A statement from the president’s office said the bills were passed by the National Assembly and conveyed to him for assent on June 2, which he signed the following day.

The new Terrorism Prevention Act prescribes measures for the prevention, prohibition and combating of acts of terrorism and the financing of terrorism in Nigeria.

It also provides for the effective implementation of the Convention on the Prevention and Combating of Terrorism as well as the Convention on the Suppression of the Financing of Terrorism, and prescribes penalties for the violation of its provisions.

The Money Laundering Prohibition Act repeals the Money Laundering Act of 2004 and makes comprehensive provisions to prohibit the financing of terrorism, and the laundering of the proceeds of crime or illegal acts.

The bills also expand the scope of supervisory and regulatory authorities to address the challenges faced in the implementation of the anti-money laundering regime in Nigeria.

Source: Africa Review