Corruption, Economic & Financial Crime Law Books: Fortify your arsenal.
As governments tighten their anti-corruption legislation businesses are more exposed to inadvertent breaches. With penalties on the rise, is your company at risk?
Government in Nigeria continues to show more than a passing interest in corruption, economic and financial crime issues. In Nigeria, several legislations have been enacted that now regulate the lives of the people. It becomes very important that whether you are an individual, business person, corporate body, both for profit and not-for-profit, that you are equipped with the basic knowledge of the laws as not to be caught on the wrong side.
As you already, penalties for breaches and prosecution for same have been on the rise with convictions growing in a worrisome manner. You are not safe. You need to know the laws.
The era of paying bribes to get contract is becoming over with cases of public officials being made to pay for doing so.
The following therefore become why you need to know the laws on corruption, economic and financial crimes.
Demand for greater Transparency
More and more demand is being made on those in authority to show transparency and integrity. The risk of being corrupt has gone up significantly as counties now tighten the noose with implementation and enacting off stringent laws to curb corruption, economic and financial crimes issues.
What can you do to reduce your risk to Anti-Corruption, Economic and Financial Crime Law?
You must become awareness of the existence of the law. That awareness of the law will make you get a copy of the law, study it, ask for guidance where there are doubts. Thereafter, formulate a clear strategy to handle likely areas of the law with your personal life, business or activities.
Again, if you are corporation, get a crack team to evaluate the risk that you are exposed to with the laws, agree on how best to comply with the laws, get board approval if possible. Carry out a Risk Assessment and Risk Mitigation work regarding the law. You must take a long-term view.
Further, for all intent and purposes, you must be ready to take a holistic position not to fall foul of the laws in all you do. You must be consistent. Top Management must support the drive to be compliant.
There are ample results that doing business ethically has seen corporate bodies growing financially than when they accepted corruption as part of their corporate culture.
Need the most update on anti-corruption, economic and financial crimes legal reference materials in Nigeria today?, look no further as Barrister Chuma Chinye, with over 25years experience hits the market with his opus “Compendium of Nigerian Laws on Corruption, Economic & Financial Crimes”
Analysis of Text:
“The work is in two volumes (Volumes 1 and 2). Both volumes of the compendium contain a wide array of legislations that impact on the subject matter laced “with comments, case law and cross-references”.
Volume 1 running into 646 pages and terminating with the profile of the author covers eleven (11) chapters each of which examine different legislations. Volume 1 also contains about two hundred and sixty one (261) reported cases.
Volume 2 containing chapter 12 to chapter 27 (16 chapters) examines other statutory legislations on the subject matter coupled with a consideration of two hundred and sixty four (264) reported cases all decided at various courts in Nigeria and abroad and is proof that indeed the Nigerian judiciary has indeed been very active in fighting Corruption, Economic and Financial Crimes “
Specifically, the Compedium contains the following laws, with comments, case laws and cross references viz
Advance Fee Fraud and Other Related Offences Act
Bank Employees, Etc. (Declaration of Assets Act
Code of Conduct Bureau and Tribunal Act
Counterfeit and Fake Drugs and Unwholesome Processed Foods (Miscellaneous Provisions) Act.
Counterfeit Currency (Special Provision) Act
Criminal Code Act
Currency Offences Act
Dishonoured Cheque(Offences) Act
Economic and Financial Crimes Commission (Establishment) Act
Examination Malpractice Act
Failed Banks (Recovery of Debt) and Financial Malpractice in Banks Act
Fiscal Responsibility Act
Foreign Exchange (Monitoring and Miscellaneous Provisions) Act
Freedom of Information Act
Miscellaneous Offences Act
Money Laundering (Prohibition) Act
National Agency for Food and Drugs Administration and Control Act
National Drug Law Enforcement Agency Act
Nigeria Extractive Industries Transparency Act
Nigeria Deposit Insurance Corporation Act
Penal Code (Northern States) Federal Provisions Act
Public Accounts Act
Public Complaints Commission Act
Failed Banks (Recovery of Debts) and Financial Malpractice in Banks Act
We can also work with you to provide other relevant corruption, economic and financial crimes lawbooks.
Matthew OGAGAVWORIA, FCA is the Founder at Matog Limited. He is a Chartered Accountant, Chartered Stockbroker, SME Advisor, Procurement Specialist, Brand Communication Consultant and Entrepreneur. He loves blogging, reading and making friends.