A REVIEW OF MONEY LAUNDERING ACT, 2022 BY J.S. OKUTEPA, SAN
A REVIEW OF THE MONEY LAUNDERING (PREVENTION AND PROHIBITION) ACT, 2022: THE IMPLICATION FOR LEGAL PRACTICE IN NIGERIA, BEING A PAPER PRESENTED BY J.S. OKUTEPA SAN ON THE 23RD MAY 2023 AT NBA BWARI LAW WEEK INTRODUCTION: I thank the leadership of NBA Bwari Branch for the privilege to present this paper. I am to review the Money Laundering (Prevention and Prohibition) Act 2022 and then look at the implications for legal practice in Nigeria. Money laundering is a global problem that affects countries around the world, including Nigeria. The practice of money laundering involves the conversion of illegally obtained funds into legitimate funds. This process is carried out to conceal the true source of the funds and to evade law enforcement. In Nigeria, the Money Laundering (Prohibition) Act of 2011 was enacted to address this problem. However, in 2022, the Money Laundering (Prevention and Prohibition) Act was passed into law, which updated and strengthened the already existing legal f...

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