- 6 Marks
BL – Nov 2023 – L1 – SB – Q5c – Contract Law
Advises on the legal implications of transferring bulk money from Canada to Nigeria under the Money Laundering (Prevention and Prohibition) Act.
Question
Oluwe family borrowed money to enable him (Oluwe) to travel to Canada in 2014 to study Medicine. After graduation, he stayed back in Canada to work. He now wants to transfer bulk money equivalent to US$15,000 to his family from Canada. One of the family members, Oghiei, has come to you to ask what he should do, considering the Money Laundering (Prevention and Prohibition) Act 2022.
Required:
State the legal position and advise Oghiei. (6 Marks)
Find Related Questions by Tags, levels, etc.
- Tags: Business Transactions, Data Purchasing, Database, Information Systems
- Level: Level 1
- Topic: Contract Law
- Series: NOV 2023
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