President Goodluck Jonathan has signed the Terrorism (Prevention) Bill, 2011 and the Money Laundering (Prohibition) Bill, 2011 into law.
Both bills were passed by the Sixth National Assembly and conveyed to President Jonathan for assent on Thursday, June 2, 2011.
A statement by the Deputy Director, Information, in the Office of the Special Adviser to the President on Media and Publicity, Mr. Justin Abuah, said Jonathan signed both bills on Friday, June 3, 2011.
The new Terrorism (Prevention) Act, 2011 establishes 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, 2011 repeals the Money Laundering Act, 2004 and makes comprehensive provisions to prohibit the financing of terrorism, and the laundering of the proceeds of crime or illegal acts.
It also expands the scope of supervisory and regulatory authorities so as to address the challenges faced in the implementation of the anti-money laundering regime in Nigeria.
Both bills were passed by the Sixth National Assembly and conveyed to President Jonathan for assent on Thursday, June 2, 2011.
A statement by the Deputy Director, Information, in the Office of the Special Adviser to the President on Media and Publicity, Mr. Justin Abuah, said Jonathan signed both bills on Friday, June 3, 2011.
The new Terrorism (Prevention) Act, 2011 establishes 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, 2011 repeals the Money Laundering Act, 2004 and makes comprehensive provisions to prohibit the financing of terrorism, and the laundering of the proceeds of crime or illegal acts.
It also expands the scope of supervisory and regulatory authorities so as to address the challenges faced in the implementation of the anti-money laundering regime in Nigeria.
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