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HomeNewsPresident Buhari Signs Bills On Electoral Act, Money Laundering, Terrorism, Others

President Buhari Signs Bills On Electoral Act, Money Laundering, Terrorism, Others

Nigeria’s leading man, President Muhammadu Buhari has signed some major bills.

The bills are as follows: Electoral Act (Amendment) Bill, 2022; Money Laundering (Prevention and Prohibition) Bill, 2022, repealing the Money Laundering (Prohibition) Act, 2011 as amended; Terrorism (Prevention and Prohibition) Bill, 2022, which repeals the Terrorism (Prevention) Act, 2011 as amended in 2013;

Deep Offshore and Inland Basin Production Sharing Contracts Act, 1993 (Amendment) Act, 2019, for increased revenue; Asset Management Corporation of Nigeria (AMCON) Amendment Acts of 2019 and 2021; Proceeds of Crime (Recovery and Management) Bill, 2022, which approves the seizure, confiscation and forfeiture of properties derived from unlawful activity;

Federal Competition and Consumer Protection Commission (FCCPC) Bill, the first legislation focused on curbing anti-competition practices, establishing the FCCPC; Nigeria Center for Disease Control (NCDC) Establishment Act, 2018; The Plant Variety Protection (PVP) Act 2021;

Mutual Assistance in Criminal Matters Bill, 2019. The Bill facilitates the identification, tracing, freezing, restraining, recovery, forfeiture and confiscation of proceeds, property, and other instrumentalities of crime as well as the prosecution of offenders in criminal cases regardless of where in the world they might be;

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The President also signed an Act establishing the Police Trust Fund, which will improve funding for the Nigeria Police Force (2019). − Nigeria Police Act, 2020 – the first comprehensive reform of Police legislation since the Police Act of 1943;

Repeal and Re-Enactment of the Companies & Allied Matters Act (CAMA), 2020, the first comprehensive reform since 1990; Not Too Young to Run Bill (2018), a Constitution Amendment Bill to reduce the age of eligibility for running for elective office in Nigeria;

Nigerian Correctional Services Bill, 2019, the first comprehensive reform of prison legislation in close to five decades; Suppression of Piracy and other Maritime Offences Bill, 2019 – the first anti-piracy legislation in West Africa.

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