Case Law

HOW EFCC MOVED TO BRING LAWYERS UNDER S. 25 OF THE MONEY LAUNDERING ACT THROUGH THE BACK DOOR

The Money Laundering (Prohibition) Act 2011 (“The Act”) contains elaborate provisions for the combating of money laundering activities in the country. The Act gave a number of obligations to financial institutions and designated non-financial institutions geered towards achieving the objectives of the Act. For instance, there is the duty to verify identity of customers (Section […]