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EU, UK reach deal to head off possible British exit from European Union

British Prime Minister David Cameron won unanimous support Friday from the European Union over reforms he sought from the bloc ahead of a referendum on the nation's continued membership in the 28-nation alliance.
After two days of intense negotiations, EU President Donald Tusk announced the deal on Twitter late Friday in Brussels.
"Deal. Unanimous support for new settlement for #UKinEU," Tusk tweeted.
Cameron said he "negotiated a deal to give the U.K. special status in the EU" that would mean it could opt out of "ever-closer union," that it would "never join the euro" currency and that "tough new restrictions" on foreigners using its welfare state would be put in place.
He said he would ask his cabinet to approve the deal on Saturday. No date for the referendum has been set, but it may come as early as June. Polls show the British public is closely divided on the issue.
Cameron sought EU reforms in four key areas: economic competitiveness, members' sovereignty rights, welfare policies and the free movement of labor. The prime minister, who says he wants to Britain to remain a member of the EU, had vowed to get what he feels is a better deal for British interests ahead of the vote.
EU Commission President Jean-Claude Juncker in a tweet called the deal "fair for UK, fair for 27 EU states."
Eastern European members of the EU objected to proposals made by Cameron that would restrict access to some social welfare benefits by EU workers living in the United Kingdom. France does not want Britain's financial industry, with which it competes for business, to be more lightly regulated than its own.

The EU said it would hold a migrants summit with Turkey in March following talks at the meeting. “(The EU-Turkey) joint action plan with Turkey remains a priority and we must do all we can to succeed,” EU chief Donald Tusk said.
The EU has promised Turkey billions of dollars as well as concessions over its ambitions to join the group in return for more help clamping down on the number of people try to reach Europe. More than 2 million Syrian refugees are in Turkey.
A specific date for the summit has not been set. Greek Prime Minister Alexis Tsipras, German Chancellor Angela Merkel and French President Francois Hollande were meeting on the sidelines of the summit Friday to discuss the migration crisis.

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President Buhari’s Anti-Money Laundering Bill

However, another hope to tackle money laun­dering cases in Nigeria has been rekindled by President Buhari, who recently sent the “Money Laundering (Prevention and Prohibi­tion) bill 2016” to the National Assembly for con­sideration.

In analysis, the bill seeks to establish Bureau for Money Laundering Control (BMLC), which would be independent in the discharge of its functions and responsibilities.

According to the “Money Laundering (Prevention and Prohibition) bill 2016”, any perpetrator of the crime is defined as “a person who knows, ought reasonably to have known or suspects that property has a criminal origin, commits an offence, if he conceals, dis­guises, converts, transfers or removes the property from Nigeria.

The bill prescribes stiff penalty for anybody found culpable of the offence and upon conviction shall be in imprisonment for a term of not less than seven years without the option of a fine.

Under the “Money Laundering (Prevention and Prohibition) bill 2016”, any bank that is found guilty of money laundering would be liable for the fine of not less than N25 million and a designated non-financial business and profession would get a fine of not less that N10 Million if found guilty of the offence.

The proposed bill also stipulates three years imprisonment or above for anybody that fails to report persons involved in the illicit act.

It is self-evident that Buhari’s anti-money laun­dering bill is in tandem with the urgent necessity to establish a formidable financial intelligence body to combat money laundering, terrorist financing activities and other predicate offences in Nige­ria. Such a body — as required under the Money Laundering (Prohibition) Act 2012 (as amended), the Terrorism (Prevention) Act 2013 (as amended) or any other relevant law or regulation — would have mechanisms for sound policy and decision – making requiring adequate, quality and timely information analysis necessary for tracking and choking off the flow of proceeds from illicit activi­ties that could impact negatively on our economy and national security in a more deeply or rapidly way.

Source: SunNews

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