Political corruption and money laundering: lessons from Nigeria

Abstract

Purpose – This paper aims to discuss political corruption in Nigeria and to assess the limitation of the immunity clause of the Nigerian constitution. This is particularly important in light of the recent developments to criminalise money-laundering in the country. Design/methodology/approach – This paper evaluates the legal anti-money laundering framework in Nigeria, in particular, the impact of the immunity clause of Nigerian constitution. Findings – Endemic corruption of the political elite leads to the abuse of the constitutional immunity clause, and significantly impairs the activities of the anti-money laundering agencies. Research limitations/implications – This paper draws on the experience of Nigeria, and is specifically looking at one obstacle on the way to fight money laundering and corruption. It is important to conduct further comparative analysis. Originality/value – This paper discusses political, economic and legal developments in Nigeria to show how the immunity clause prevents the successful prosecution of corrupt Nigerian politicians, and discusses measures taken to prevent corruption in the country.