The House of Representatives has passed the Proceeds of Crime Management Agency Bill through first reading.The initial confusion was if or not the PCMA should be a stand-alone agency with its own operational laws and funding, or to make the previous Bill un-assented by President Muhammadu Buhari an omnibus Proceeds of Crime law usable by all anti-graft agencies.
It also harmonises and consolidates existing legislative provisions on the management of the Proceeds of crime in Nigeria.The proposes act also makes provision for the disposal of seized, confiscated and forfeited property derives from unlawful activities and any instrumentalities used or intended to be used in the commission of unlawful activities.
Recall that the Proceed of crime bill was passed in the House of Reps as far back as 2018 but was one of the 17/bills returned by President Muhammadu Buhari unassented recently.
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