Financial expert and tax consultant, Iromini Abass says money laundering hinders economic growth and therefore challenged governments to fight the monster headlong.
Abass who was speaking on an EKO FM programme in Ikeja said the menance would kill the local industries and create unemployment.
This according to him, was because launderers used their ill-gotten wealth to import foreign products more durable and cheaper than locally manufactured products.
Abass therefore urged governments to probe the source of wealth of the emergency millionaires in the country.
He also wanted Churches, Mosques and traditional rulers to question the source of wealth of worshippers before ordaning them or confering chieftancy titles on them.
Abass suggested that the law enforcement agenices should be well remunerated to prevent them from taking bribes from money launderers.