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Political corruption and money laundering: lessons from Nigeria

Author

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  • Anna Markovska
  • Nya Adams

Abstract

Purpose - – This paper aims to discuss political corruption in Nigeria and to assess the limitation of the immunity clause of the Nigerian constitution. This is particularly important in light of the recent developments to criminalise money-laundering in the country. Design/methodology/approach - – This paper evaluates the legal anti-money laundering framework in Nigeria, in particular, the impact of the immunity clause of Nigerian constitution. Findings - – Endemic corruption of the political elite leads to the abuse of the constitutional immunity clause, and significantly impairs the activities of the anti-money laundering agencies. Research limitations/implications - – This paper draws on the experience of Nigeria, and is specifically looking at one obstacle on the way to fight money laundering and corruption. It is important to conduct further comparative analysis. Originality/value - – This paper discusses political, economic and legal developments in Nigeria to show how the immunity clause prevents the successful prosecution of corrupt Nigerian politicians, and discusses measures taken to prevent corruption in the country.

Suggested Citation

  • Anna Markovska & Nya Adams, 2015. "Political corruption and money laundering: lessons from Nigeria," Journal of Money Laundering Control, Emerald Group Publishing Limited, vol. 18(2), pages 169-181, May.
    • Handle: RePEc:eme:jmlcpp:jmlc-10-2014-0040
    DOI: 10.1108/JMLC-10-2014-0040
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    Citations

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    Cited by:

    1. Bernardette Naa Hoffman & Johnson Okeniyi & Sunday Eneojo Samuel, 2024. "Antecedents of Compliance with Anti-Money Laundering Regulations in the Banking Sector of Ghana," JRFM, MDPI, vol. 17(8), pages 1-27, August.
    2. Roberto Dell’Anno & Majid Maddah, 2023. "Money laundering, corruption and socioeconomic development in Iran: an analysis by structural equation modeling," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 70(3), pages 395-417, September.

    More about this item

    Keywords

    Nigeria; Money laundering;

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