Nigerian central bank tackles money laundering

NIGERIA - As the war on money laundering intensifies in Nigeria, the Central Bank of Nigeria has given local banks until the end of September to clean up their acts or face severe sanctions, reports Business Day.

Director of banking supervision Ignatius Imala said the central bank was concerned about the problem and was taking it 'very seriously' because Nigeria was on the 'non co-operating countries' list of the international Financial Action Task Force, an independent body combating money

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