money launderers

Reps want 7-year jail term for money launderers

The House of Representatives has proposed a prison term of seven years and a fine of “not less than N50m” against money laundering. According to Punch, the bills have consolidated and referred to the crucial committee stage. The newspaper reports that one of the bills seek to repeal the extant money laundering law. The executive... Read More

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7-year, House of Representatives, jail term, Laundering, money launderers

May 21, 2013

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Money laundering: 5 suspects nabbed with N432 million at the Murtala Muhammed Airport

by Rachel Ogbu N432 million was seized from five suspected money laundering criminals at the Murtala Muhammed Airport, Lagos while attempting to travel abroad. On Monday, the Public Relations Officers of the Murtala Muhammed Airport Command of the Nigeria Customs Service, Thelma Williams said that the arrests were made between January and March 2013. “From $10,000, there must... Read More

EFCC, money launderers, Murtala Muhammad Airport