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From Ndubuisi Orji, Abuja
The House of Representatives has passed for second reading a bill seeking to provide for enhanced whistleblowers protection and strengthen legal framework for non-conviction forfeiture of assets obtained from proceeds of crime.
The proposed legislation, which is seeking to amend the Proceeds of Crime ( Recovery and Management) Act, 2022, is sponsored by chairman, House Committee on Navy, Yusuf Gagdi.
Gagdi, while leading debate on the bill, at Tuesday’s plenary, said the proposed legislation is aimed at closing gaps in the Proceeds of Crime (Recovery and Management) Act, 2022, which was enacted to provide a legal framework for the recovery, management, and disposal of proceeds of crime in the country.
He explained that the gaps in the extant law, “have limited the effectiveness of the Act in facilitating non-conviction-based forfeiture, protecting whistleblowers, safeguarding witnesses, and ensuring expeditious judicial processes.”
The lawmaker argued that closing the gaps will enhance accountability, and expand the operational scope of the Act to align it with contemporary anti-corruption and asset recovery standards.
According to him, “the rationale for this Bill is rooted in the need to make the Proceeds of Crime Act more effective, responsive, and just in the recovery and management of proceeds of unlawful activities.
“The fight against corruption and illicit financial flows in Nigeria must go beyond conviction-based recovery of assets.
“Many cases of corruption, economic sabotage, and illicit enrichment cannot be effectively prosecuted due to death of suspects, flight from jurisdiction, or complex legal hurdles. Non-conviction-based forfeiture provides an important tool for recovering assets in such situations, while still ensuring due process and judicial oversight.
“Furthermore, the amendment seeks to introduce clarity, consistency, and procedural fairness in the operation of interim and final forfeiture orders, admissibility of evidence, and management of forfeited assets, including digital or virtual assets.
“This is in line with global best practices and Nigeria’s international obligations under the United Nations Convention Against Corruption (UNCAC) and the Financial Action Task Force (FATF) recommendations.”
Gagdi listed the key objectives of the bill to include to empower “relevant agencies to receive, investigate, and act on credible information while ensuring the safety and welfare of whistleblowers.
“To streamline judicial procedures by defining clear timelines for publication, response, and hearing of forfeiture applications, ensuring expeditious determination of cases and minimizing abuse of court processes.
“To recognize virtual assets and digital proceeds of crime by establishing a National Confiscated Wallet for Virtual Assets to be managed by the Central Bank of Nigeria alongside the Confiscated and Forfeited Properties Account.
“To enhance the admissibility of evidence, including hearsay evidence, where necessary for the effective prosecution and recovery process, consistent with civil forfeiture standards,” among others.
