The Money Laundering(Prevention and Prohibition) Act, 2022.

Copy of the Money Laundering(Prevention and Prohibition) Act, 2022

Click to download a copy of the Money Laundering(Prevention and Prohibition) Act, 2022

The Act which contains a total of 5 parts and 31 sections has repealed the Money Laundering (Prohibition) Act, No. 11, 2011, and enacted the Money Laundering (Prevention And Prohibition) Act, 2022 to Provide a Comprehensive Legal and Institutional Framework for the prevention and Prohibition of money laundering in Nigeria established the Special Control Unit Under The Economic And Financial Crimes Commission; and for related matters.

Click to download a copy of the Money Laundering(Prevention and Prohibition) Act, 2022

The objectives of the Act are to—

(a) provide for an effective and comprehensive legal and institutional
framework for the prevention, prohibition, detection, prosecution and punishment of money laundering and other related offenses in Nigeria ;

(b) strengthen the existing system for combating money laundering and
related offenses;

(d) expand the scope of money laundering offenses and provide appropriate penalties; and

(e) establish the Special Control Unit Against Money Laundering under
the Economic and Financial Crimes Commission for effective implementation
of the money laundering provisions of the Act about the designated Non-Financial businesses and professions.

The Money Laundering(Prevention and Prohibition) Act, 2022 was signed into law by President Mohammadu Buhari on the 12th of May 2022.

Click to download a copy of the Money Laundering(Prevention and Prohibition) Act, 2022

****************************************************************************************

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June 20, 2022 at 8:45 pm

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**************************************************************************************** This work is published under the free legal awareness project of Sabi Law Foundation (www.SabiLaw.org) funded by the law firm of Bezaleel Chambers International (www.BezaleelChambers.com). The writer was not paid or charged any publishing fee. You too can support the legal awareness projects and programs of Sabi Law Foundation by donating to us. Donate here and get our unique appreciation certificate or memento. DISCLAIMER: This publication is not a piece of legal advice. The opinion expressed in this publication is that of the author(s) and not necessarily the opinion of our organisation, staff and partners. PROJECTS: Take short courses, get samples/precedents and learn your rights at www.SabiLaw.org Publish your legal articles for FREE by sending to: eve@sabilaw.org Receive our free Daily Law Tips & other publications via our website and social media accounts or join our free whatsapp group: Daily Law Tips Group 5 KEEP IN TOUCH: Get updates on all the free legal awareness projects of Sabi Law (#SabiLaw) and its partners, via: YouTube: SabiLaw Twitter: @Sabi_Law Facebook page: SabiLaw Instagram: @SabiLaw.org_ WhatsApp Group: Free Daily Law Tips Group 5 Telegram Group: Free Daily Law Tips Group Facebook group: SabiLaw Email: lisa@sabilaw.org Website: www.SabiLaw.org ABOUT US & OUR PARTNERS: This publication is the initiative of the Sabi Law Foundation (www.SabiLaw.org) funded by the law firm of Bezaleel Chambers International (www.BezaleelChambers.com). Sabi Law Foundation is a Not-For-Profit and Non-Governmental Legal Awareness Organization based in Nigeria. It is the first of its kind and has been promoting free legal awareness since 2010. DONATION & SPONSORSHIP: As a registered not-for-profit and non-governmental organisation, Sabi Law Foundation relies on donations and sponsorships to promote free legal awareness across Nigeria and the world. With a vast followership across the globe, your donations will assist us to increase legal awareness, improve access to justice, reduce common legal disputes and crimes in Nigeria. Make your donations to us here or contact us for sponsorship and partnership, via: lisa@SabiLaw.org or +234 903 913 1200. ***********************************************************************************

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The Money Laundering(Prevention and Prohibition) Act, 2022.

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