NIGERIA
January 1st, 2004
BY RICHARD HURSTNigeria is widely regarded as the country as the hub of money-laundering activities in the region, despite having a reasonably comprehensive set of anti-money laundering laws in place. Press and non-governmental organisation reports have highlighted cases where Nigerian banks have been hit by money launderers trying to conceal illicit earnings from corruption, the arms trade, narcotics and the e-mail frauds. The country has also been rated as the second most corrupt country in the world, (after Bangladesh), by the anti-corruption group ...
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