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Nigeria: Bill on Establishment of Financial Crimes Court

(July 2, 2008) It was reported on May 12, 2008, that Nigeria's Senate would approve the establishment of a special court for financial crimes, through the enactment of the “Financial Crimes Court 2008″ bill. According to Senator Simeon Oduoye, Vice Chairman of the Senate Committee on Security and National Intelligence, the new body will have the powers of a High Court but exclusively handle offenses committed and triable under the Economic and Financial Act 2002, the Independent Corruption Practices and Other Related Offences Act 2002, and the Money Laundering Act 1995. He added that corruption is too widespread a problem to be adjudicated among “other matters such as land matters, marital issues, chieftaincy issues etc.,” because it has had such a negative effect on the Nigerian economy. Oduoye stated that creation of the Financial Crimes Court would also enable the country to reduce the caseload of other courts and the number of detainees awaiting trial on related matters. (Laide Akinboade, Nigeria: Senate Set to Create Anti-Corruption Court, VANGUARD (Lagos), May 12, 2008, available at