Money Laundering is a problem of the Past, Present and the Future because it breathes life to
organized crimes. Upon acquiring ill-gotten money, criminals employ the technique of money
laundering to make it seem like their proceeds of crime was obtained via legitimate means in
order to retain and enjoy the fruits of their crime.
Although, this offence could be regarded as a victimless crime, because it is not a crime that directly and specifically harm another person, but in reality, it is a crime against nations because, it affects economies, government, rule of law, and the world at large. Therefore, we should not allow this filthy water to flood our cooking stones, as such an act must be curtailed.
This paper thus seek to examine the meaning of money laundering, what amounts to the offence of money laundering, stages of money laundering, who has the burden of proof in respect of the offence of money laundering, the necessity of obtaining fiat before prosecuting the offence of money laundering, the concurrent jurisdiction of both the National Drug Law Enforcement Agency (NDLEA) and the Economic and Financial Crimes Commission (EFCC) in prosecuting the offence of money
laundering and the effect of charging a defendant under a wrong or repealed law with respect
to the offence of money laundering.
What a bizarre society that we found ourselves; a complex web of peculiarities; a society where the offence of Money Laundering is not an alien concept. Although the term money laundering, is circulating in Nigeria, like Naira. However, there are many without an in-depth knowledge of its meaning.
If you elect not to follow the association of ignorance, I implore you to read this article for your digestion and also extend your gesture of goodwill by sharing this intellectual masterpiece with others. It sheds light on the term “Money Laundering,” from critical and legal perspectives.
I hope you enjoy reading this article as much as I did writing it. Thank you in advance.
Kehinde Oluwafemi Salimon, Esq.
