| Bob-Osamor, Chinelo 2025. Implementation of unexplained wealth order in Nigeria. Adeyemo, Folashade and Ryder, Nicholas, eds. Unexplained Wealth and Financial Crime A Global Perspective, Routledge, pp. 188-206. (10.4324/9781003396086-10) |
Abstract
This book chapter examines the renewed clamour for the introduction of unexplained wealth order (UWO) into Nigerian laws to tackle the growing volume of suspicious wealth generated by its politically exposed persons (PEPs). Though this novel addition into the UK laws introduced by the Criminal Finances Act 2017 has been less than successful, the proponents believe that this asset recovery initiative is suitable to tackle financial crimes in Nigeria, particularly money laundering by PEPs. This chapter is divided into three parts. The first part critically reviews Nigeria's asset recovery initiatives. The second part evaluates extant provisions in Nigeria that are akin to the UWO. The third part considers the introduction of the UWOs in Nigerian laws and the likely challenges. While the conclusion asserts the findings that although the UWO is a welcome addition to the surfeit of anti-money laundering laws in Nigeria, its implementation will be stalled by a lack of political will and systemic flaws that have inhibited previous efforts at asset recovery.
| Item Type: | Book Section |
|---|---|
| Date Type: | Publication |
| Status: | Published |
| Schools: | Schools > Cardiff Law & Politics |
| Publisher: | Routledge |
| ISBN: | 9781032499307 |
| Last Modified: | 19 Jan 2026 12:16 |
| URI: | https://orca.cardiff.ac.uk/id/eprint/184003 |
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