Repealed and replaced the 2004 AML law, tightening customer due diligence and cash-reporting — later superseded by the 2022 Act.
The Money Laundering (Prohibition) Act 2011 strengthened Nigeria's anti-money-laundering framework with tighter cash-transaction reporting to the NFIU/EFCC, KYC/customer-identification duties on financial and designated non-financial institutions, and limits on cash payments. It was amended in 2012 and later repealed by the Money Laundering (Prevention and Prohibition) Act 2022.