COMPARATIVE EVALUATION OF NIGERIAN AND INTERNATIONAL LEGAL REGIMES ON FORFEITURE OF PROCEEDS OF CRIME

Abstract

The Constitution of the Federal Republic of Nigeria declares itself Supreme and makes its provisions binding on all authorities and persons throughout Nigeria. It further asserts that any other law inconsistent with its provisions shall, to the extent of the inconsistency. We have witnessed of late a plethora of legislations enacted by the National Assembly to regulate Economic Crimes in Nigeria. Such statutes include the Independent Corrupt Practices Commission Act 2003; The Money Laundering (Prohibition) Act 2004; The Economic and Financial Crimes Commission (Establishment) Act 2004; The Advanced Fee Fraud and other Fraud Related Offences Act 2006. These statutes are all intended to assist the government in the fight against corruption and to build a healthy society with a growth-based economy. However, some of the provisions of these Acts have been found to contradict the Constitution of Nigeria in the areas of protection and preservation of the rights of the citizens. This work focuses on the desirability of re-aligning these enactments with provisions of the Constitution and allied international legislations so as to close up the gaps that have exposed the citizens to the rough deals from the implementation of these laws as they now exist.