Legal Alert - Money Laundering (Prohibition) Act 2011


The Money Laundering (prohibition) Act, 2011 has repealed the Money Laundering (Prohibition) Act 2004.

The Money Laundering (Prohibition) Act 2011 makes for comprehensive provisions prohibiting the financing of terrosim, the laundering of the proceeds of a crime, or of any illegal activity.

The Money Laundering (Prohibition) Act 2011 also makes provisions for penalties and fines, and expands the scope of the supervisory and regulatory authorities to address the money laundering problems in Nigeria.

Under the Money Laundering (Prohibition) Act 2011, it is irrelevant the jurisdiction or jurisdictions within which a money laundering offence was committed.

Banker/customers confidentiality as are Legal Practitioners and Clients confidentiality inapplicable in money laundering prosecution and the giving of evidence.

LOADING PDF: If there are any problems, click here to download the file.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Oserogho & Associates | Attorney Advertising

Written by:


Oserogho & Associates on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.