On 22 November 2022, the National Assembly passed a revised version of the Omnibus Bill, which proposes to amend five pieces of legislation, including the Companies Act, 2008.
Never miss a beat on Africa's legal and regulatory landscape.
On 22 November 2022, the National Assembly passed a revised version of the Omnibus Bill, which proposes to amend five pieces of legislation, including the Companies Act, 2008.
It has been a little over a year since the Financial Action Task Force (“FATF”), an international initiative established to combat money laundering published..
The General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Bill, 2022, which will make the necessary changes to avoid South Africa being “greylisted”, has been tabled.
South Africa has until the end of February 2023 to meet a tight deadline to amend its Financial Intelligence Centre Act, 2001 (“FICA”) or face the consequences of its financial institutions being added to a grey list alongside countries such as Yemen, Sou..
The passage of the Money Laundering (Prevention and Prohibition) Act, 2022 – which repealed the Money Laundering (Prohibition) Act, No. 11, 2011 – has introduced significant changes to the legal and institutional framework for the prevention and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..
On 12 May 2022 the Proceeds of Crime (Recovery and Management) Act came into effect. Drawing from local experience in the anti-graft war, and noticeably influenced by international instruments such as the UN Convention on Corruption, the..
On 12 May 2022, the President of the Federal Republic of Nigeria, Muhammadu Buhari as part of the efforts to strengthen the AML/CFT regime in Nigeria signed into law the following Bills; (i) Money Laundering (Prevention and Prohibition) Bill, 2022 (ii) Terrorism (Preventi..
The Ministry of Justice and Human Rights has issued Circular 02/GMJDH/2022, dated March 22, which includes guidelines addressed to registrars and notaries regarding the fulfillment of their obligations stemmin..
The Nigerian Senate, on 16th March 2022, passed the Money Laundering (Prevention & Prohibition) Bill, 2022 (the “Bill”). The Bill aims to abolish the Money Laundering (Prohibiti..