Ola Olukoyede, Chairman of the Economic and Financial Crimes Commission (EFCC), has called on lawyers across Nigeria to exercise due diligence in their practices to comply with Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) regulations. His remarks were made during a panel discussion on money laundering at the 64th Annual General Conference of the Nigerian Bar Association (NBA) in Lagos on Tuesday.
Olukoyede emphasized the importance of lawyers understanding the backgrounds of their clients to avoid involvement in illegal activities. “As lawyers, we hold a position of trust. We must not only adhere to international laws but also uphold the integrity of our profession,” he stated.
He acknowledged the role of international conventions in guiding anti-money laundering efforts but stressed that adhering to ethical practices is essential for maintaining the profession’s sanctity. Olukoyede urged lawyers to ensure that their fees are sourced from legitimate means and emphasized that they are not exempt from prosecution if they fail to comply with regulations.
“If I trace the proceeds of crime to you, I will invite you for questioning, and it is your duty to answer,” he warned. He further explained that understanding one’s role in aiding or abetting crimes is crucial for determining legal responsibility.
NBA President Yakubu Maikyau, SAN, supported Olukoyede’s message, encouraging lawyers to approach the EFCC’s advice with an open mind and to collaborate with the commission in the fight against corruption.
Earlier at the conference, Olukoyede visited the EFCC stand, where he engaged with attendees and addressed various questions about the commission’s activities.
