Money laundering, politically exposed persons, and the high network individual (HNI); Effect on the economy of the oppressed and downtrodden people in the developing economy: Nigeria as a case study

Money Laundering is a form of financial crime that affects the economy in general and impacts negatively on the society.

This paper examines the roles that PEPS and HNI play in the economy, society, institution, security and political structure of a nation, using Nigeria as a case study,

this paper also looks at the process and channels PEPS and HNL use to launder proceeds of crime (money) and the way they are able to influence public servants and financial institutions, it studies the general consequences of money laundering on the economy of Nigeria,

it further attempts to examine the legislative measures that are being taken in combating money laundering and the effectiveness of this measures. This paper concludes by recommending among other things, (i) Strong legal regime that would help combat money laundering in Nigeria (ii) Stricter financial policies aimed at combating ML (iii) Campaign for ‘good governance’ as illustrated by scholars, commentators and experts in the field of financial crime