- 4 Marks
BL – Nov 2022 – L1 – SB – Q2a – Nigerian Legal System
Explaining the limitations of cash transactions under the Money Laundering Act.
Question
The Money Laundering (Prohibition) Act stipulates guidelines to regulate funds transfers by individuals and corporate bodies.
Required:
i. Limitation of cash transactions by corporate bodies (2 Marks)
ii. Limitation for international transfer of foreign currencies (2 Marks)
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