Nigerian President Signs Money Laundering, Terrorism Bills Into Law
May 13, 2022 ·
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Description
President Muhammadu Buhari signed into law, three bills aimed at improving the anti-money laundering and counter-terrorist financing/proliferation financing framework in Nigeria. The President described the bills as being in tandem...
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President Muhammadu Buhari signed into law, three bills aimed at improving the anti-money laundering and counter-terrorist financing/proliferation financing framework in Nigeria.
The President described the bills as being in tandem with this administration’s commitment to fighting corruption and illicit financing activities, as well as critical to the governance agenda and the development of Nigeria.
He says the new laws have provided enough punitive measures and containment strategies against abuses and compromises noting that the inadequacy of all the repealed Acts had impacted legal actions against offenders.
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The President described the bills as being in tandem with this administration’s commitment to fighting corruption and illicit financing activities, as well as critical to the governance agenda and the development of Nigeria.
He says the new laws have provided enough punitive measures and containment strategies against abuses and compromises noting that the inadequacy of all the repealed Acts had impacted legal actions against offenders.
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