The House of Representatives has passed for second reading a bill seeking to amend the Money Laundering (Prevention and Prohibition) Act, 2022, in a bid to tighten Nigeria’s anti-corruption laws.
The proposed legislation, sponsored by Yusuf Gagdi (APC, Plateau), passed second reading after scaling the first on 23 July.
It aims to strengthen the country’s anti-money laundering regime, enhance asset recovery, and introduce civil forfeiture provisions to complement existing criminal prosecution mechanisms.
The Money Laundering (Prevention and Prohibition) Act, 202,2 was enacted as part of Nigeria’s efforts to strengthen compliance with international anti-money laundering (AML) and count
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