Official Corruption and the Dynamics of Money Laundering in Nigeria
- UK: Emerald Group Publishing Limited, 2007.
- 63p.
This paper aims to examine the interface between official corruption and money laundering in Nigeria and suggest ways of curbing these crimes. The relevant laws dealing with these offences were examined to assess the adequacy or otherwise of the statutory provisions. The key provisions of the Criminal and Penal Codes were discussed in addition to the new enactments dealing with these crimes, namely, the Independent Corrupt Practices and Other Related Offences Act, the Economic and Financial Crimes Commission Act, the Money Laundering Act as well as the Code of Conduct Bureau and Tribunal provided for in the 1999 Constitution. The paper demonstrates in a unique manner, the close relationship that exists between official corruption and money laundering and suggests a fundamental restructuring of the social and economic bass of the Nigerian society to minimize the temptation by public officers to engage in official corruption and money laundering.
