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Religio-Spiritual Implications of Corruption and Money Laundering: The Case of Nigeria

Religio-Spiritual Implications of Corruption and Money Laundering: The Case of Nigeria

Adebayo Rafiu Ibrahim
Copyright: © 2021 |Pages: 23
ISBN13: 9781799887584|ISBN10: 1799887588|ISBN13 Softcover: 9781799887591|EISBN13: 9781799887607
DOI: 10.4018/978-1-7998-8758-4.ch002
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MLA

Ibrahim, Adebayo Rafiu. "Religio-Spiritual Implications of Corruption and Money Laundering: The Case of Nigeria." Money Laundering and Terrorism Financing in Global Financial Systems, edited by Abdul Rafay, IGI Global, 2021, pp. 30-52. https://doi.org/10.4018/978-1-7998-8758-4.ch002

APA

Ibrahim, A. R. (2021). Religio-Spiritual Implications of Corruption and Money Laundering: The Case of Nigeria. In A. Rafay (Ed.), Money Laundering and Terrorism Financing in Global Financial Systems (pp. 30-52). IGI Global. https://doi.org/10.4018/978-1-7998-8758-4.ch002

Chicago

Ibrahim, Adebayo Rafiu. "Religio-Spiritual Implications of Corruption and Money Laundering: The Case of Nigeria." In Money Laundering and Terrorism Financing in Global Financial Systems, edited by Abdul Rafay, 30-52. Hershey, PA: IGI Global, 2021. https://doi.org/10.4018/978-1-7998-8758-4.ch002

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Abstract

Nigeria is a country in the center of financial crimes and money laundering in Africa right from her pre-independence, independence, and post-independence eras. The aim of this study was to analyze the religio-spiritual effects of financial corruption and money laundering in Nigeria. The study answered such questions as what is the role of religious practitioners in aiding and abetting money laundering in Nigeria and how anti-money laundering strategies affect religion. The study observed that religion was dubiously used for money laundering activities, while some manipulated religion to exploit others. Some, for money ritual, also employed evil spirituality. The study concluded that religion has to be properly regulated to avoid its manipulation by some individuals while there is a need to review some anti-money laundering policies that reduced religion to mere worship in the four corners of places of worship and do not allow it to feature in humanitarian volunteerism.

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