The passage of the Money Laundering (Prevention and Prohibition) Act, 2022 – which repealed the Money Laundering (Prohibition) Act, No. 11, 2011 – has introduced significant changes to the legal and institutional framework for the prevention and prohibition of money laundering in Nigeria. In this Newsletter, we examine the sea changes and highlight key compliance requirements imposed on individuals and enterprises by the Act.
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On the 19th of February 2024, Honourable Justice Emeka Nwite, sitting at the Federal High Court in Abuja, ordered one of the world’s largest cryptocurrency exchanges, Binance to divulge information about all Nigerians using its trading platform to the Economic Financial C..
The Anti-Money Laundering and Combating of Terrorism Financing (AML and CFT) Laws (Amendment) ACT, 2023 was assented into law on the 1st of September 2023 and came into force on 15th September 2023. The Act is testament to Kenya’s continued commitment to combating illicit..
The Parliament of Ghana passed the Contracts (Amendment) Act 2023 (Act 1114) in July 2023, to amend the Contracts Act, 1960 (Act 25) which has been in existence for the past sixty-four years. The Contracts Act primarily sets out third-party rights under contracts as well ..
