Nigeria: Senate Passes Anti-Money Laundering Bill

2 March 2011

In less than an hour of sitting, the Senate Tuesday passed the Money Laundering (Prohibition) Bill that has been lying in the chambers since 2009.

The passage of the Bill, which repealed the Money Laundering Act 2004, followed the approval of the recommendations of the Senator Ibrahim Ida- led ad-hoc committee that fine-tuned the piece of legislation after the Senate standing Committee on Drugs, Narcotics, Financial Crime and Anti-Corruption completed work on it last October.

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