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Nigerian Assets Laundered Through Western Banks, Offshore Centers: Report
printNigeria should prohibit banks from maintaining anonymous accounts, lower reporting requirements on wire transfers and enact counter-terrorism financing laws, according to a report by an African anti-money laundering watchdog. While reforms meant to curb corruption are "bearing fruit," the immunity granted to some public officials and their ability to hide undeclared assets has contributed to widespread financial crime in the country, the Inter-governmental Action Group Against Money Laundering in West Africa said in a 217-page report issued Thursday. What's more, crooked Nigerian officials have laundered as much as $250 billion through Western banks, offshore financial institutions and blue chip stock...
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