Bill to strip president of power to order assets forfeiture passes second reading | 5 Things that Should Matter Today

assets forfeiture

A bill seeking to strip the president of the powers to order for forfeiture of assets of accused persons has scaled second reading in the House of Representatives. The discretionary power previously granted to the president to order for forfeiture of assets was on Thursday, transferred to the judges of a High Court.

The bill, which was passed in plenary, yesterday, is sponsored by the Deputy Speaker, Mr Ahmed Wase and is entitled “a bill for an act to amend the currency conversion (freezing orders) act cap. C.43, Laws of the Federation of Nigeria, 2004 to give discretionary powers to the judge of a High Court, to order forfeiture of assets of affected persons and for related matters.”

Presenting the bill, the deputy speaker said, “It is noteworthy that the provision for forfeiture in our laws is geared towards ensuring that persons found guilty of offenses do not benefit from the proceeds of those offences.

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