Anti-Money Laundering/Counter-Terrorism Financing Standards in Nigeria

The book presents a simplified and concise analysis of the various legal and institutional frameworks for combating money laundering and terrorism financing in Nigeria. This regime permits investments to be put into production purposes that responds to customer needs and help the productivity of the whole economy. The absence of anti-money laundering and counter-financing of terrorism regime in a country permits criminals to operate using their financial gains to expand their criminal pursuits and foster illegal activities such as terrorism financing and money laundering. Money laundering and terrorism financing have significant economic and social consequences for countries with fragile financial system. Ultimately, the economy, society and security of countries used as money laundering and terrorism financing platforms are all imperiled. Financial institutions in these countries run the risk of suffering from reputational, legal, operational and concentration risks. This book will be beneficial to financial and designated non financial institutions, law enforcement agencies, judges, legal practitioners, legislators, academicians, policy makers and the general public.