n Malawi Law Journal - The renewed battle against money laundering in Nigeria

Volume 1, Issue 1
  • ISSN : 1996-7675



This paper discusses critically the meaning of the crime of money laundering and explores its links to other crimes and its consequences. It tracks and analyses the legal measures that Nigeria has taken to combat it. It demonstrates that the money laundering legal regime devised during the military era was largely ineffectual mainly because the law was poorly designed and the relevant law enforcement agencies routinely abused their powers and violated human rights. By contrast, the article argues that the new money laundering regime, spearheaded by the Economic and Financial Crimes Commission, is quite promising. The recently adopted Money Laundering (Prohibition) Act 2004 and Economic and Financial Crimes Commission (Establishment) Act 2004 are analysed. While these Acts are responsible for the success that Nigeria has made thus far in the money laundering battle in the democratic era, several areas of concern remain that will impede the effectiveness of these Acts. Suggestions are made as to how these Acts could be improved.

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