Talk Of The World: Nigeria Tops U.S Money Laundering List

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The United States government has again put Nigeria on top of its money laundering, financial crimes and corruption list based on the weak enforcement, poor Judiciary and political interference of the country.
According to reports by 2012 International Narcotics Control Strategy released by the United States, Nigeria was placed in the “high risk category” and tagged under “countries/Jurisdiction of Primary concern”. Also, the report says, prosecutions of 639 people between October 1, 2010 to September 2011, only 73 people were convicted. “Weak law enforcement and justice sector issues have hindered the progress of and thwarted many prosecutions and investigations. Nigeria remains a major drug trans-shipment point and a significant centre for criminal financial activity.”
“Individuals, criminals and
terrorist organisations take
advantage of the country’s
location, porous borders, weak
laws, corruption, lack of
enforcement, and poor socio-
economic conditions to launder
the proceeds of crime.
The proceeds of illicit drugs in
Nigeria, derive largely from
foreign criminal activity rather
than domestic activities” The
report also said.
Source: LEADERSHIP NEWSPAPER

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