Proceedings From The House of Representatives For Thursday July13, 2017. _ NTA.ng – Breaking News, Nigeria, Africa, Worldwide what is laundering money

1. Hon. Kolawole babatunde (ondo) standing on order 8, rule 4, brought to the notice of the house the alleged killings of 97 nigerians by cameroonian terrorists, hon. A. E. Johnson (edo) rose to second the first leg of the motion, hon. Ishiaka (ogun) seconded the second leg to set aside rules of the house. Hon. Kolawole in moving the motion stated that that some nigerians had recently been killed in the bakasi peninsula for not paying levy for fishing activities, this is despite the peace pact existing between nigeria and cameroon. This has become an ugly development that if not checked will lead to emboldening these acts of impunity. He requested the house as the direct representatives of the nigerian people to condemn the killing, investigate the matter, invite the minister of foreign affairs to brief the house on what is being done to stop the continued killing which has spread to akwa ibom and ondostates, seek compensation for victims of the horrendous crime and observe a minute silence for the departed souls.What is laundering money mean

hon. Nnenna elendu ukeje (abia) seconded the prayers, but however noted that the 97 deaths are still alleged and confirmation is needed before the hardest and decisive actions are taken. On this premise the speaker suggested the prayers be amended to reflect the certain position on ground. Hon. Adamu kamale (adamawa) pointed out that being a member from a border region, it is sad that all the villages ceded to cameroon have been demarcated while those to nigeria are still porous, he asked the house to ask the boundary commission to ensure demarcation of all committees to avert dispute. Hon. Agunsoye rotimi (lagos) pointed out that since the speculation is about the number not on the fact that some nigerians were indeed killed, 1, 10 or 97, action needs to be taken to ensure the life of all nigerians worldwide are taken seriously. Chairman, rules and business, hon.What is laundering money mean oker jeff (benue) stated that even the issue of death is in speculation, he advised that the prayer for one minute silence be suspended till it is ascertained, deputy chairman rules and business seconded the motion by hon. Jeff, it was voted and passed as an investigative motion to the house committee of foreign affairs

Hon. Gyang pwajok (plateau) moved for the second reading, seconded by hon. Nnena (abia). In leading the debate hon. Pwajok (plateau) stated that the absence of the house leader puts him in a lacuna as his bill contradicts some parts of the executive bill which the leader was supposed to sponsor, while the 2 bills were merged, some salient areas still exist, one among many is the possession and non-declaration of excess cash, possession is not a crime, but the non-disclosure and these should be clarified. He appealed that the grey area need to be clarified so it doesn’t look like the national assembly is frustrating the executive anti-corruption bill.What is laundering money mean hon. Oker jeff (benue) as chairman rules and business said the bills have been merged and hon. Pwajok should argue his knowledge of the bill and not be seen to uplift one part and dispute another. Hon. Tahir (borno) stated his support for the bill in its attempt to further discourage the incidents of money laundering through financial institutions. Hon. AE johnson (edo) stated that he had brought a similar bill before the house some months back, but the consolidated bill doesn’t seem to reflect his input. He stated that the bill is critical to fighting corruption in financial institutions such as banks. Hon. Leo ogor (delta) stated that if not properly managed, money laundering can ruin any nation and the merit of the bill clearly seeks to check money laundering but it draws its origin from foreign examples and there is the need at the committee level to domesticate the issues raised to reflect the realities in nigeria.What is laundering money mean hon. Garba shehu stated that nigeria as a nation has very weak anti-corruption laws that check mostly only electronic cash transactions and not that of physical cash. This bill he stated will aid the executive arm of government to be able to domesticate the bill and apply it to the nigerian scenario. Hon. Toby okechukwu (enugu) stressed the need to enact the bill into law as it helps to not only fight corrupt acts and individuals, but corruption as an institution and the bill seeks to be a strong policy against corruption that can stand the test of time. Hon. Nnenna (abia) stated that upon all the efforts nigeria has invested in fighting money laundering; the proceeds of this laundering has been proven to sponsor terrorism, and as a nation grappling with the ill effects of insurggency, nigeria cannot afford to have weak laws to tackle the proceeds of illicit funds.What is laundering money mean as a progressive house, it behoves on them to lead the charge to empowering the executive to fight corruption. South africa she stated has been accepted into the international body that tracks and fights corrupt and illicit funds worldwide, egypt is on its way to being admitted while nigeria has had her application rejected once due to the lack of enabling local laws operational in her financial system and institutions, a review of her submission is coming up, all should be done to ensure nigeria is not turned down again. The bill was voted and committed to house committee on financial crimes

Hon. Abubakar moriki (zamfara) moved that the bill be read a second time, hon. Shuaibu abdurahman (adamawa) seconded. Hon. Abubakar moriki said the bill is in realization of the critical role cotton plays in the garment industry of nigeria, the cotton policy in the 1970s was on the verge of greatness as it had become a money spinning machinery to the government and people of nigeria when in 1986 the policy was regrettably abolished which made farmers stop cultivating cotton, the revenue dwindled and the textile industry became comatose.What is laundering money mean all efforts to relativize the textile industry has been both short-lived and seemed to lack sincerity which all ended in failure. He therefore prayed the house to pass the bill to provide a legal framework so that a created institution or council should coordinate efforts at cotton and textile revival, provide a platform for international collaboration for trade and development of cotton. Deputy speaker rt. Hon. Yusuf lasun (osun) stated that cotton can be traced to be the root of the growth of the economies of the wealthiest countries as agriculture is the only industry whose development brings to the fore the solution of many social ills. Hon. Lasun prayed the bill to be all encompassing to include all of agriculture and not just cotton cultivation. Hon. Munir babba (kano) stressed that taking agricultural issues lightly will be detrimental to nigeria and her large population in the bid to feed, export and gain foreign exchange.What is laundering money mean he called on the present government to carry on with some of the revolutionary policies of the last regime. He stated that after visiting sudan and ethopia, he has come to the sad conclusion that nigeria seems to be unserious and paying lip service to agricultural development, no practicability compliments the many words spoken towards improving agriculture. The question was put, voted and passed for the second reading, it was referred to the house committee on industry.

Hon. Mojeed alabi (osun) moved that the bill be read a second time, hon. Solomon karen (plateau) seconded. In leading the debate, hon. Alabi stated that the bill is not meant to try and amend aspects of the constitution but to stress the importance of the provisions of the constitution and it doesn’t cover every public officer, but to stress the right to non-discrimination and all nigerians should be able to have access to all opportunities in nigeria.What is laundering money mean the bill seeks to tackle the problem with the application of federal character principle to ensure that the best hands from where opportunities are zoned to get it, not the most highly connected. Hon. Kingsley chinda (rivers) raised a point of order on the bill from the title, to the second part of the bill that is covered by chapter 4 of the constitution. The issue of federal character is also covered by the bill, he prayed the bill be withdrawn and the sponsor looks at it critically. Hon. Alabi then raised a counter point of order on specific terms that can be altered by his proposed bill. Hon. Monguno (borno) through his point of order countered hon. Alabi pointing out that any law contradicting any provision of the constitution is dead on proposal. The speaker put the question to a voice vote and the bill was stepped down.