Professional Analysis of Anti-Money Laundering Law in Nigeria: The Money Laundering Prevention and Prohibition Act 2022

The Money Laundering (Prevention and Prohibition) Act 2022 represents Nigeria's most recent legislative response to the threat of money laundering and its interconnection with terrorism financing, public corruption, and organised crime. The Act substantially strengthened the previous 2011 framework, introducing enhanced customer due diligence requirements, expanded reporting obligations for designated non-financial businesses and professions, and stronger sanctions for violations. This study professionally analyses the legal framework of the MLPPA 2022, evaluating its regulatory design, compliance requirements for reporting entities, enforcement powers of the Special Control Unit Against Money Laundering, and alignment with the Financial Action Task Force Recommendations as the international standard for anti-money laundering law. A doctrinal methodology is applied, reviewing the MLPPA 2022, the Terrorism (Prevention and Prohibition) Act, FATF Mutual Evaluation Reports on Nigeria for 2021, GIABA assessment data, and comparative analysis from the United Kingdom's Proceeds of Crime Act 2002. The study evaluates specific compliance gaps identified in the 2021 FATF Mutual Evaluation and the legislative responses in the 2022 Act. Available anti-money laundering literature from Nigeria identifies real estate and legal professional sector compliance as the areas most critically below FATF standards. The Risk-Based Approach to AML Regulation and the FATF 40 Recommendations Framework provide the normative reference. Recommendations address legal professional AML compliance, SCUML enforcement capacity, and transaction monitoring system requirements. Keywords: money laundering, MLPPA 2022, FATF, AML compliance, Nigeria.