| dc.description.abstract | Banditry and terrorism constitute serious security risks in Nigeria. This follows the fact that
Nigeria is rated as one of the leading states in the world that is plagued by terrorism. Terrorists and
bandits usually embark on predicate crimes such as kidnapping, smuggling, narcotics trade, and similar
trades to finance their terrorist enterprises in Nigeria. The funds realized by criminals from nefarious
sources such as sales of narcotics and ransom from kidnapping are usually laundered to make their
criminal enterprises self-sustaining. Thus, all “dirty” money is laundered so as not to attract the attention
of law enforcement agents. The funds realized through receipt of ransom from kidnapping, smuggling or
funds from sponsors are laundered through channels such as bureau de change, which are difficult to
monitor by the Nigerian authorities due, in part, to flaws and loopholes in the current anti-money
laundering and anti-terrorist laws. This paper aims to adopt a doctrinal and qualitative desktop research
methodology. In this regard, the current anti-money laundering and anti-terrorist laws are discussed to
explore possible measures that could be adopted to remedy the flaws and loopholes in such laws and
combat money laundering and financing of terrorism in Nigeria | en_US |
