The United States government has once again put Nigeria on top of its money laundering, financial crimes and corruption list based on the weak enforcement, poor Judiciary and political interference of the country.
According to the 2012 International Narcotics Control Strategy Report released by the United States Department, Nigeria was placed in the high risk category and tagged under countries/Jurisdiction of Primary concern.
According to the report, out of 639 prosecutions between October 1, 2010 to September 2011, only 73 convictions were recorded.
“Weak law enforcement and justice sector issues have hindered the progress of and thwarted many prosecutions and investigations. Nigeria remains a major drug trans-shipment point and a significant centre for criminal financial activity.
“Individuals, criminals and terrorist organisations take advantage of the country’s location, porous borders, weak laws, corruption, lack of enforcement, and poor socio-economic conditions to launder the proceeds of crime.
The proceeds of illicit drugs in Nigeria derive largely from foreign criminal activity rather than domestic activities” The report noted.
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