By Yakubu LAAH InvestAdvocate Lagos (INVESTADVOCATE)-The Central Bank of Nigeria (CBN) has said that Money Laundering offenders will risk not less than two (2) years jail term or forfeiture of cash. This is contained in a circular with reference number FPR/DIR/CIR/GEN/03/004 dated June 26 2013 and signed by Y.B Duniya, […]
Tag: Money Laundering
US fines ‘Hezbollah’ bank $102 mn for laundering
A Lebanese bank accused of laundering money from drugs and other operations for clients tied to Hezbollah militants agreed Tuesday to pay US authorities $102 million to settle the charges. Beirut-based Lebanese Canadian Bank was singled out in February 2011 for allegedly moving hundreds of millions of dollars for criminal […]
Money laundering: CBN issues fresh directives to banks
The Central Bank of Nigeria has issued fresh directives to banks to comply with the amended anti-money laundering/combating the financing of terrorism regulation, 2009 so as to align with money laundering Act, 2011 and terrorism Act, 2011. A circular by the CBN on Friday listed the sections of the AML […]
