“Transactions Of Equivalent Of $10,000 or Above Are Reported To EFCC & CBN” Every foreign transfer of equivalent of Ten Thousand US Dollars ($10,000.00) or more or securities MUST be reported to Economic and Financial Crimes Commission (EFCC), Central Bank of Nigeria (CBN), Security and Exchange Commission (SEC) within 7 days of such transaction. Such report must reveal the details of transfer, amount, names and addresses of the parties involved. My authorities are sections 2(1),(2), 25 and 26 of Money Laundering (Prohibition) Act. #DailyLawTips #SabiLaw #LearnNigerianLaws NOTE: Sharing or modifying or publishing this publication without giving credit to Onyekachi Umah, Esq. and “LearnNigerianLaws.com” is a criminal breach of copyright and will be prosecuted. Please share this publication till it gets to those that need it most. Save a Nigerian today! To receive our Daily Law Tips for free follow our Facebook page, Twitter, Instagram and YouTube via “@LearnNigerianLaws”. This is the writer’s view not a legal advice and does not create any form of relationship. You may reach the writer for more information. Powered by www.LearnNigerianLaws.com]]>
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