Combating Money Laundering in Nigeria: An Appraisal of the Money Laundering Prohibition Act 2004

Okogbule, Nlerum S.
July 2007
Statute Law Review;Jul2007, Vol. 28 Issue 2, p156
Academic Journal
The article discusses the Anti-Money Laundering Prohibition Act 2004 of Nigeria. It explores the function of the Financial Action Task Force (FATF) to combat money laundering and in suggesting national legislation and spearheading proactive measures. It notes the existence of loopholes on the current Ant-Money Laundering Act, though a lot has been added and improved from the 2003 Act including the amount of money a person should have in case of cash payments and bank secrecy law.


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