Modernised AML regime — creates the Special Control Unit Against Money Laundering, broadens DNFBP coverage to lawyers, accountants, real-estate.
The MLPPA repealed the 2011 Money Laundering Act. It established the Special Control Unit Against Money Laundering (SCUML) as a dedicated supervisor for Designated Non-Financial Businesses and Professions (DNFBPs), expanded DNFBP coverage to include lawyers, accountants, real estate firms, jewellers and car dealers, and aligned reporting thresholds with FATF standards. It also created the legal framework Nigeria needed for the FATF grey-list exit (achieved 2025).