Across Nigeria Corruption Matters Main News News

Reps seek seven-year jail term for money launderers

The House of Representatives has proposed tougher measures against money laundering, including a prison term of seven years and a fine of “not less than N50m.”

Findings by The PUNCH on Monday showed that two anti-money laundering bills before the House had been consolidated and referred to the crucial committee stage.

A copy of one of the bills obtained by The PUNCH, an Executive bill, seeks to repeal the extant money laundering law.

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