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The purpose of this study is to examine the role of selected sociodemographic variables in the ethical decision-making (EDM) process of professional accountants in Nigeria.

The study obtained data from 329 professional accountants with the aid of a structured questionnaire containing four dilemmatic ethical vignettes. The data were analysed using Kendall correlation, Kruskal–Wallis and Jonckheere–Terpstra tests.

The results revealed that upbringing, especially parental discipline, and education are significant sociodemographic determinants of EDM. Religion and experience played little or no significant role in predicting accountants’ EDM in the face of ethical dilemmas.

The study used a questionnaire to measure its variables, which may bias and somewhat inflate the findings. Hence, caution should be applied regarding its conclusion.

The evidence in this study could stimulate policy change and review to include a separate ethics course in the accounting education curriculum, which could enhance the ethics training of future accountants. This is important for countries like Nigeria, where no provision is made for a discrete ethics course in the curriculum for accounting under-graduate education.

The study draws attention to the fact that ethical conduct among professionals and in society could be enhanced through proper upbringing and formal education.

The study adds some uniqueness in focusing on professional accountants in Nigeria, a developing country with high corruption profile and weak government institutions, and, as such, contributes to the limited research output on accounting ethics in developing countries.

One of the most pervasive economic crimes in the world today is money laundering. It has been estimated that some $2 to $3.6 trillion of hot money is laundered through the financial market each year. Such huge amounts of money cannot be successfully laundered without the involvement of financial intermediaries (such as bankers and lawyers) who used their expertise to conceal and obscure illegal activity. However, broader accounts of the role of financial intermediaries in corrupt practices are relatively scarce. The purpose of this paper is to examine some predatory activities of financial intermediaries in facilitating money laundering practices in Nigeria.

The paper locates the role of financial intermediaries within the sociological theory of profession to argue that these professionals facilitate money laundering despite their professional and ethical claims. The paper uses publicly available evidence to illuminate the role played by financial intermediaries in elite money laundering.

The evidence shows that, in pursuit of organisational and personal interest, the financial intermediaries create enabling structures that support illicit activities of political and economic elite in Nigeria. The paper concludes that the establishment of money laundering laws and the creation of anti‐money laundering agencies had not brought about professional transparency and ethical conduct.

The paper therefore suggests that Nigeria needs to reform its financial institutions to promote integrity, accountability and ethical professional conduct to curb money laundering and to build trust in the Nigerian financial system.

The social, economic and political effects of financial intermediaries' anti‐social practices are significant as huge amounts, often dwarfing the gross domestic product (GDP) of many nation states, are involved. These questionable practices by financial intermediaries increase profits, but harm citizens.

The paper is a general review of literature and evidence on contemporary issues.