*Moves Against Public Servants With Unexplained Sources Of Wealth
![](https://thenigerialawyer.com/wp-content/uploads/2026/05/2026-Summer-IDRI-Masterclass.jpg")
Two Bills that seek to facilitate the swift prosecution of money launderers and terrorist financiers in the country scaled the second reading yesterday at the Senate.
The Bills also seek to provide a framework for the prosecution of public servants with unexplained sources of wealth.
The Bills, titled: “Money Laundering (Prevention and Prohibition) Bill, 2021,” and “Money Laundering (Prevention and Prohibition) (Repeal & Re-enactment) Bill, 2021” were sponsored by Senators Suleiman Umar (Kwara North) and Suleiman Abdu Kwari (Kaduna North).
In his lead debate, Umar explained that the proposed law seeks to repeal the extant Act and enact the Money Laundering (Prevention and Prohibition) Act, 2021, to provide a more comprehensive legal and institutional framework for the prevention and prohibition of money laundering in Nigeria.
The Kwara North senator said the Bill takes into consideration the changing patterns and manifestation of money laundering as an offence, which includes investment or funds transfer made or obtained fraudulently into legitimate businesses to make the illicit funds difficult to trace.
Senate President Ahmad Lawan referred the Money Laundering (Prevention and Prohibition) Bill, 2021, and Money Laundering (Prevention and Prohibition) (Repeal & Re-enactment) Bill, 2021, to the Senate Committee on Anti-Corruption and Financial Crimes for further legislative work.
He gave the Committee Chairman Suleiman Abdu Kwari four weeks to report back to plenary.
He explained that the United Nations Office for Drug Control and Crime Prevention (UN-ODCCP) (1999) describes money laundering as the concealment or disguising of the true nature, source, location, disposition, movement rights with respect to or ownership of property, knowing that such property is derived from an offence.
He added that the law, when enacted, would provide the framework for the prosecution of public servants with unexplained sources of wealth.
Supporting the Bill, Smart Adeyemi (Kogi West), said: “There is no doubt that this government, more than any other government in the history of our country, has taken the crusade against money laundering and corruption as a task that must be achieved.
“There is no doubt that billions of dollars and pounds have been siphoned from our system to foreign nations, especially by those who have held political offices in the past.”
Senate President Ahmad Lawan referred the Money Laundering (Prevention and Prohibition) Bill, 2021, and Money Laundering (Prevention and Prohibition) (Repeal & Re-enactment) Bill, 2021, to the Senate Committee on Anti-Corruption and Financial Crimes for further legislative work.
He gave the Committee Chairman Suleiman Abdu Kwari four weeks to report back to plenary.
The book, titled The Law of Torts in Nigeria: A Functional Approach, authored by Professor Hagler Sunny Okorie Ph.D and Ikeocha, Nathaniel Ngozi Esq, offers law students, practitioners, and academics a comprehensive guide to understanding and applying tort law in Nigerian courts. Interested buyers can place orders via the following contact numbers: 08028636615, 08037667945, 08032253813, or +234 902 196 2209.
_______________________________________________________________________
“Order Your Copy Now” — Basil Momodu, Esq. Unveils Second Edition Of His Book, "Civil Procedure In Nigeria"
According to the learned author, Basil Momodu Esq. "Law review is a continuum. We will continue to track changes in the law to enrich future editions." Recommended Booksellers: Lagos: 08033855230, Abuja: 08035991379, and others.
______________________________________________________________________
[A MUST HAVE] Evidence Act Demystified With Recent And Contemporary Cases And Materials
Interested buyers are encouraged to place their orders and enquiries via:
0704 444 4777, 0704 444 4999, 0818 199 9888
Website: www.alexandernigeria.com
