and other related Matters as amended as part of moves to nip in the
bud the present security challenge in the country where persons are
killed almost everyday.
This followed the report presented by the Senator Mohammed Magoro led
Senate Joint Committee on National Security and Intelligence;
Judiciary, Human Rights and Legal Matters and Drugs, Narcotics,
Financial Crimes and Anti-Corruption.
With the passage by the Senate, it is expected that President Goodluck
Jonathan will sign it into law to then become an Act of the parliament
against the backdrop that the House of Representatives had earlier
passed the Bill.
According to the Committee, the absence of a National Coordinator to
tackle the problem of terrorism in the country has affected
collaboration among the Security Agencies in fighting and combating
terrorism, adding that there was no acceptable standard definition of
terrorism and as such each country tries to adopt definitions to suit
its peculiar situation.
According to Senator Magoro, PDP, Kebbi South, the Committee in its
findings discovered the absence of specialized designated prosecutors
and judges to try terrorism related cases as well as the absence of
Specialized Prisons, detention facilities for keeping terrorist
suspects.
Against this backdrop, the Committee said, ''the Joint Committee on
National Security and Intelligence; Judiciary, Human Rights and Legal
Matters; and Drugs, Narcotics and Financial Crimes was referred and
having favourably considered same, recommends ''that the Senate do
consider and pass the Bill for Terrorism(Prevention) Act, 2011 and for
other Related Matters as amended.''
Also same Wednesday, the Senate read for the third time, a bill to
amend the Money Laundering (Prohibition) Act, 2011, providing for the
forfeiture of all undeclared funds in breach of Section 12 of the
Foreign Exchange(Monitoring and Miscellaneous Provisions)Act.
The Senate yesterday rejected the amendments of a bill that sought to
remove the consent of a prisoner serving his term in a foreign prison,
to be repatriated to complete his jail sentence in Nigeria.
Presenting the report on the money laundering bill, Chairman, Senate
Committee on Drugs, Narcotics, Financial Crimes and Anti Corruption,
Senator Victor Lar, Plateau South who explained that the bill sought
to increase the punishment for false declaration of funds to the
Nigerian Customs Service, said, "The 2012 amendment has removed the
limit of 'not less that 25 per cent' of undeclared funds to be
forfeited in the event of default to include the whole undeclared
funds."
Senator Lar explained further that the amendment to be carried out
the Central Bank of Nigeria(CBN) and the Securities and Exchange
Commission(SEC) as regulatory agencies in addition to the Financial
Intelligence Unit(FIU) contained in the Principal Act, adding that as
provided for in section 12 of the Principal Act, only directors of
financial institutions were liable.
According to him, with the amendment the bill seeks to achieve, both
the corporate institution, the director and employees will now be
liable, adding that the amendment made it mandatory for financial
institutions to put in place, internal procedures, policies and
controls with adequate resources units and regulatory agencies that
will be empowered to impose penalties and sanctions.
Senator Lar said, "Under definition of terms, P.E.P(Politically
Exposed Persons) is introduced to replace 'Public Officers) used in
the Principal Act. By adopting this definition, children and
associates of politically exposed persons, even civil servants who
preside over public funds or take decisions that lead to expenditure
on the public purse are encapsulated friends, cronies of political
office holders are also included.
At yesterday's plenary, the Senate did not to pass the amendments to a
bill on the transfer of Nigerians serving jail terms in foreign
prisons, just as Senators rejected the provisions seeking to delete
the sections which provides for the consent of the prisoners, through
voice votes.
In his remarks, Senate President David Mark who noted that the bill
had been passed by the House of Representatives, suggested that a
harmonization would be required as that would handle the variations.
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