MONEY LAUNDERING (PROHIBITION) ACT

Section 1: Limitation to make or accept cash payment.

2011Section 1 of 26Federal Republic of Nigeria

No person or body corporate shall, except in a transaction through a financial institution, make or accept cash payment of a sum exceeding-
(a) N5,000,000.00 or its equivalent, in the case of an individual; or
(b) N10,000,000.00 or its equivalent in the case of a body corporate.

Cite this section

Section 1, MONEY LAUNDERING (PROHIBITION) ACT (2011).

https://repo.podus.ai/laws/money-laundering-prohibition-act/section/1/