Abuja – The House of Representatives, Wednesday, approved the Conference Committee ‘s report on a Bill for an Act to repeal the Money Laundering ( Prohibition ) Act 2004 and enact the Money Laundering (Prohibition ) Act 2011.
The amendment was sequel to a motion moved by Rep. Rabe Nasir (PDP – Katsina) member House Committee on Drugs, Narcotics and Financial Crimes which was adopted.
He said the Senate passed the same Bill with some differences.
Nasir noted that the Bill was passed by the House on Nov. 2, 2010, and transmitted to the Senate for concurrence.
Nasir added that the two chambers met in Conference on May 25, 2011 and adopted a harmonised version of the Bill.
He said the Bill was important to curbing corrupt practices in the country.
The House also adopted the Conference Committee’s report on a bill for an Act to repeal the Nigerian Accounting Standards Act 2003.
The Bill seeks to enact the Financial Reporting Council of Nigeria Act.
Rep. Zakari Galadima (ANPP – Yobe) Chairman House Committee, noted that the bill was passed by the House on Dec. 16, 2008 and transmitted to the Senate for concurrence, adding that the Senate had passed the same Bill.
Galadima said that the two chambers met in Conference on May 25, 2011 and adopted a harmonised version.
He urged the House to adopt the report due to its importance in regulating Accounting Standards in the country.
Meanwhile, the following Bills have passed third reading in the House, and have been forwarded to the Senate for concurrence.
The Bills are the Geneva Conventions Act , Public Service Delivery Office charged with the responsibility for Executing the Public Service Delivery Programme of the Federal Republic, and Bill for the Establishment, Management and Operation of a Centre for Commercial Arbitration.
Others are Bill for an Act to Establish the Nigerian Intelligence Agency Pensions Board , to handle pensions matters for personnel of the Agency, and Bill to Establish the State Security Service Pensions Board . (NAN)
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Reps endorse report on Money Laundering Bill