The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede has charged Nigerian lawyers to observe due diligence in their practices, stating that they must know the background of their clients so as not to go against the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) regulations.
According to a statement by the Head, Media and Publicity of EFCC, Dele Oyewale, the EFCC Chair who spoke during a panel discussion on money laundering at the 64th Annual General Conference of Nigerian Bar Association (NBA), Conference 2024 in Lagos, said, “As lawyers, we are supposed to hold a position of trust in our professional conduct. As we try to comply with international laws and regulations, we should also do what is right for ourselves, let us protect the sanctity of our profession, which is key.”
While appreciating the international conventions against money laundering, the EFCC’s Chair emphasized that “Doing the right thing doesn’t necessarily come from the way of international conventions. If you do the right things, they will automatically take you out of the grey list.
“It is expedient on you to, at least, know who your client is. You are expected to be paid from a legitimate source.
“If you are a victim of crimes, you will understand what I am saying. As lawyers, you must not, in any way, derogate or demean your professional commitment to your clients.
“Even a part of the money laundering Act that we have evaluated doesn’t stop me from enforcing the regulations of the EFCC Act and other financial laws in Nigeria.”
Speaking further, Olukoyede emphasized that lawyers were not insulated from prosecution if they failed to do the right thing.
“I must trace the proceeds of crimes and if I trace it to you, I will invite you for questioning, and you also have to answer my questions.
“I mean, why do we talk about aiding and abetting crimes? Why do we have accessories before and after the fact? Knowing this will assist me in determining your level of culpability or otherwise.
“We are not saying you are not entitled to your pay, but what we are saying is that the money that comes to you must not be proceeds of crimes.”
In his reaction, the Association’s President, Yakubu Maikyau, SAN, tried to clarify the salient points raised by Olukoyede during the session.
He also urged lawyers to receive Olukoyede’s charge with an open mind, adding that both the NBA and the Commission should be partners in the fight against corruption.
“Who else should be in the vanguard of the fight against corruption other than us?”, he said.
Earlier, Olukoyede visited the EFCC stand at the venue of the convention and fielded questions from several attendees on varied issues about the activities of the Commission.
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