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From Kunle Akogun in Abuja, 07.16.2010

The clause-by-clause consideration of the Senate Committee on Drugs, Narcotics, Financial Crimes and Anti-Corruption on the Money Laundering Act 2004 (Repeal and Re-enactment) Bill 2010 was stalled on the floor of the Senate yesterday following disagreements over some of its provisions.

Since deliberations on the draft Bill began about four weeks ago, many senators have expressed misgivings over some of its provisions, which they believe to be too draconian and unrealistic?

The Senate has therefore referred the draft Bill to a seven-member ad-hoc committee headed by Senator Ibrahim Ida (PDP, Katsina) or further legislative action?

Other members of the ad-hoc committee are Senators Heineken Lokpobiri (PDP, Bayelsa), Bode Olajumoke (PDP, Ondo), Patricia Akwashiki (PDP, Nasarawa), Ayo Arise (PDP, Ekiti), Nkechi Nwogu (PDP, Abia), and Ahmed Mohammed (PDP, Kwara).

Deliberations on the draft Bill were earlier stalled last Wednesday as the Chairman of the Committee on Drugs, Narcotics, Financial Crimes and Anti-Corruption, Senator Sola Akinyede was not present in the chambers to answer questions raised on the bill.

Although the upper chamber, in its Committee of the Whole had at previous sittings considered 15 of the Bill 28 clauses, Senate President David Mark directed the ad-hoc committee to review the entire draft Bill from beginning to the end.

Mark however urged the committee to be guided by national interest while carrying out its assignment.

However, Akinyede told our correspondent shortly after yesterday sitting, that the committee was ready to continue with its presentation until the Senate President suggested that the draft Bill be referred to an ad-hoc committee.