Oluyinka Olutola OLAJIRE


Money laundering, one of the most typical financial crimes globally, is an organised and transnational crime that has ravaged Nigeria's economic growth and development. It is a sort of crime that is difficult to detect due to the flexibility and adaptability of its operations, the vast amount of money at the disposal of those involved in it, the ingenuity of its operators, the adoption of the latest technological know-how by launderers, and the characteristic of the perpetrators, who are constantly pursuing profits and the opportunity to foray into new areas of criminal activity. Nigeria has had and still has its share of money laundering issues perennially. Indeed, the problem is becoming more intractable partly due to the many loopholes in the legal and regulatory mechanisms formulated to tackle it and the lackadaisical approach of the operators and enforcers of regulations responsible for nipping the problem in the bud. Coming from this background, this article relying on secondary sources of data collection puts forward a criminological reevaluation of the emergence, magnitude, and ‘modus operands’ of money laundering in Nigeria. The paper further highlights the country's nexus between money laundering and underdevelopment.


Money laundering, Underdevelopment, Crime, Criminological Assessment, Nigeria

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