The bill was renamed Terrorism (Prevention) Act 2013 (Amendment) Bill, 2022, after it passed the third reading on the Senate floor.
The bill was passed after the Committee on Judiciary, Human Rights, and Legal Matters considered a report provided by its Chairman, Senator Opeyemi Bamidele.
In his presentation, Bamidele stated that the measure aims to prohibit ransom payments to abductors, kidnappers, and terrorists in exchange for the release of their captives.
He added that the bill seeks to discourage the rising spate of kidnapping and abduction for ransom In Nigeria, which is fast spreading across the country.
Bamidele said the need to comprehensively review the Terrorism Prevention Act arose from the unfavorable ratings of Financial Act Task Force (FATF) recommendations on Nigeria’s fight against terrorism.
The lawmaker added that the amendment of the act was the consequent placement of Nigeria in FATF’S International Cooperation and Review Group Process with its impending sanctions on Nigeria’s economy.
He stated that the National Task Force on improving Nigeria’s Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) regime in Nigeria proposed improvement on the Act in order to address the deficiencies noted in its provisions to align with the required standard as obtainable in other jurisdictions.
He stressed the proposed repeal and enactment Bill was geared towards improving the effectiveness of countermeasures against terrorism, terrorism financing, and proliferation financing.
When signed into law by the President, Senate President Ahmad Lawan said the bill will enhance the federal government’s efforts in the battle against insecurity.
He stated his hope that the President will sign this bill into law as soon as possible, and that the updated legislation will achieve the goal of reducing insecurity in the country.
