President Muhammadu Buhari yesterday slammed the National Assembly for delaying the passage of Proceeds of Crimes Bill presently before it.

Buhari, who spoke during the submission of the report of the Presidential Committee set up to audit recovered funds, said a key tool that would revolutionize the country’s asset recovery and management architecture is the Proceeds of Crimes Bill.
“Once the Bill is passed and assented, many of the challenges facing our asset recovery and management practice will be adequately taken care of as the Bill addresses most of the challenges facing effective asset recovery and management in Nigeria,” he said.

He, therefore, urged the National Assembly to take necessary steps to pass the Bill

He assured Nigerians that his administration would continue to keep faith with the promise to fight corruption, adding that, “we shall remain committed until Nigeria triumphs over the evil of corruption, attain a prosperous economic status and surmounts all her security challenges.”

He said that the findings and recommendations of the Committee would be carefully examined and given due consideration with a view to implementing the recommendations.
Buhari said proceeds of the recoveries must be optimally utilized to address economic and social problems, and loopholes for stealing public funds must be blocked.

The three-man panel said N769bn cash was recovered in the period under review.

Minister of Justice and Attorney General of the Federation, Abubakar Malami said the federal government recovered N13.8bn from tax evaders in May 2018.

He said in May 2018 government paid N439.2m to 14 whistleblowers who gave specific information on tax evasion.

•Excerpted from a Daily Trust report

Update news