Nigeria - 2011 - Democracy and Governance

Money Laundering (Prohibition) Act, 2011

Ministry of Finance, Budget and National Planning, Nigeria

This is an Act to repeal the Money Laundering (Prohibition) Act, 2004 and enact the Money Laundering (Prohibition) Act, 2011. It emphasizes that no individual or corporate body shall make a cash payment of N5 million (for an individual) and N10 million (for a corporate body) except in a transaction through a financial institution.

Process Flow

National Assembly ⬤

Office of the President ⬤

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Money Laundering (Prohibition) Act, 2011 Current Version

January 2022

This is an Act to repeal the Money Laundering (Prohibition) Act, 2004 and enact the Money Laundering (Prohibition) Act, 2011. It emphasizes that no individual or corporate body shall make a cash payment of N5 million (for an individual) and N10 million (for a corporate body) except in a transaction through a financial institution.

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