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The President of Nigeria Major General Muhammadu Buhari (Rttd), on Thursday 12th May 2022, signed into law three bills: the Money Laundering (Prevention and Prohibition) Bill, 2022, the Terrorism (Prevention and Prohibition) Bill, 2022, and the Proceeds of Crime (Recovery and Management) Bill 2022.

These landmark legislations represent a significant step forward in Nigeria's commitment to combat financial crimes, terrorism financing, and enhance the legal framework for asset recovery. The bills introduce enhanced due diligence requirements, strengthen reporting obligations for financial institutions, and establish comprehensive mechanisms for tracking and recovering proceeds of crime.