Section

SECTION 12: Prohibition of numbered or anonymous accounts, accounts in fictitious names and shell banks

Part of: Money Laundering (Prevention and Prohibition) Act 2022

(1) The opening or maintaining of numbered or anonymous accounts by any person, financial institution or body corporate is prohibited. (2) A person shall not establish or operate a shell bank in Nigeria. (3) A financial institution shall (a) not enter into or continue correspondent…

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