News
EFCC boss seeks legislation against unexplained wealth
The Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has called for legislation against unexplained wealth as a way of checking the criminal activities of treasury looters in the country.
He made the call at a two-day International Law Conference with the themed: ‘Unexplained Wealth in the Global South: Examining the Asset Recovery and Return Trajectory’ organised by Christopher University, Mowe Ogun State.
Olukoyede said though several countries, including the United Kingdom, Australia, Mauritius, Kenya, Zimbabwe and Trinidad and Tobago, had embraced the Unexplained Wealth Orders, (UWOs) since it came into force in 2018, he said the EFCC still relied on the provisions of Section 7 of its Establishment Act to check the menace.
“The issue of unexplained wealth is not a local issue. There are jurisdictional legislations across the world to tackle it. Till date, countries of the world are faced with criminalities emanating from money laundering practices and illicit funds.
“This circumstance led to the promulgation of Unexplained Wealth Orders (UWOs) that came into force in 2018. Several countries, such as the United Kingdom, Australia, Mauritius and African countries like Kenya, Zimbabwe, and Trinidad and Tobago in the Caribbean have come up with UWO. Nigeria is yet to come up with a national legislation on it,” he said.
-
News7 days ago
Cooking Gas Price Has Fallen
-
Sports6 days ago
Finidi agrees deal with NFF, names three foreign assistants
-
News7 days ago
Read How Auxiliary Was Whisked Away By Masked Security Agents as Family member Speaks
-
Politics6 days ago
Atiku Says Tinubu’s Son Is A Director In Company Related To Coastal Road Contract
-
Politics6 days ago
Rivers Crisis: I Can’t Bow To Wike, He’s Not God – Fubara
-
News7 days ago
ERA OF GIVING OIL BLOCS TO POLITICIANS AS PATRONAGE IS OVER SAYS LOKPOBIRI
-
Entertainment6 days ago
“I Met My Husband Online And I’m Happily Married To Him As The 3rd Wife”– Bimpe Akintunde Says As She Shed More Light On Her Marriage
-
Sports6 days ago
Raphael Onyedika Suspended For Club Brugge’s Conference League Clash With Fiorentina