FG seeks to establish money laundering control bureau

President Muhammadu Buhari has set machinery for the establishment of
Bureau for Money Laundering Control (BMLC) to tackle money laundering
related cases in the country.
The bureau when established would ensure that all designated businesses
and professions comply with the provisions of the money laundering act
and exercise supervision.
The president had sent the bill tagged, “Money laundering (Prevention
and Prohibition) bill, 2016” for the establishment of the bureau to the
National Assembly. BMLC, according to the bill, would be independent in
the discharge of its functions and responsibilities if established.
The bureau would be run through an advisory board to be headed by a
chairman who will be appointed by the president on the advice of
minister of Justice and Attorney-General of the federation.
What are your views on the need for a new Anti Corruption Agency?



Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s