2021
DOI: 10.1108/jmlc-09-2020-0107
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Recouping proceeds of corruption: is there any need to reverse extant trends by enacting civil forfeiture legal regime in Nigeria?

Abstract: Purpose The aim of this study is to investigate how Nigeria can seek legal assistance on recovery of its stolen assets to reduce corruption and to ensure no sheltered havens for incomes from corruption. Design/methodology/approach The research adopts a conceptual method by using existing literature with the application of doctrinal legal research technique. The research likewise uses primary and secondary sources of legislations such as legislative provisions, case laws and the provisions of Chapter V of the… Show more

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Cited by 20 publications
(19 citation statements)
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“…The terms "corrupts," "foul," or "render it less fit for the purpose for which it is ordinarily used" are too general and may require scientific evidence to prove beyond a reasonable doubt. No record of any oil firm that pollutes the Niger Delta area daily has been charged for infringing this law in Nigeria [50].…”
Section: Criminal Code Act Cap C38 Lfn 2004mentioning
confidence: 99%
“…The terms "corrupts," "foul," or "render it less fit for the purpose for which it is ordinarily used" are too general and may require scientific evidence to prove beyond a reasonable doubt. No record of any oil firm that pollutes the Niger Delta area daily has been charged for infringing this law in Nigeria [50].…”
Section: Criminal Code Act Cap C38 Lfn 2004mentioning
confidence: 99%
“…The Basle Committee on Banking Regulations and Supervisory Practices, which was established in 1988, was the first step in combating the use of financial institutions for money laundering by requiring bank management to implement certain legal and ethical standards on financial transactions, as well as due diligence policies or mechanisms (Olujobi, 2021a(Olujobi, , 2021b. The objective of the Committee is to strengthen banking monitoring and encourage prudence among members and non-members who share its values.…”
Section: Transnational Legal Framework For Combating Money Launderingmentioning
confidence: 99%
“…The duty to enact detailed regulatory and supervisory legal regimes for banks and nonbanking financial institutions susceptible to money laundering was imposed in Article 7 of the Convention. However, Nigeria has not strictly enforced its anti-money laundering and terrorist financing laws to combat the threat (Olujobi, 2021a(Olujobi, , 2021b.…”
Section: Transnational Legal Framework For Combating Money Launderingmentioning
confidence: 99%
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