An inter governmental action group, West African Financial Agency has pointed out that not less than 300 casinos both in Lagos and Abuja run the risk of indulging in money laundering activities.
Written by awawa on August 1, 2022
The West African financial intelligence agency, an Inter-Governmental Action Group against Money Laundering, has said 300 casinos operating in Nigeria may be involved in money laundering.
Nigeria is battling to stem terrorism financing amid the escalating attacks by terrorists from the Islamic State West Africa Province.
The body, established by the Economic Community of West African States, noted that money laundering risks to the casinos which are operating mainly in Lagos and Abuja were high.
It added that the gambling spots were mostly owned by foreigners from South Africa, China, Lebanon, the United States, Germany, and the United Kingdom.