The Chairman of the Economic and Financial Crimes Commission, EFCC Ola Olukoyede, spoke with members of the Nigerian Bar Association (NBA) on May 21, 2024.

This significant event occurred at the prestigious Auditorium of the NBA Secretariat in Abuja. The engagement underscores the importance of the collaboration between the NBA and the EFCC in addressing Anti-Money Laundering and Terrorist Financing compliance.

Representing the Chairman was CE Daniel Isei, Director of the Special Control Unit against Money Laundering.

Delivering the Chairman’s goodwill message, CE Daniel Isei expressed the Chairman’s joy in seeing collaboration between the EFCC and the Nigerian Bar Association on the issue of lawyers’ compliance with the Anti-Money Laundering and Countering Financing of Terrorism regime in Nigeria.

“I feel very strongly that the lawyers who are pillars of justice are the critical component in the fight against money laundering and terrorist financing”, Olukoyede said. The Chairman noted that he would spare no effort to see that the collaboration is enhanced and works seamlessly to the overall interest of all parties and Nigeria.

The Chairman commended the NBA President for proactively integrating essential AML/CFT measures into the NBA Rules of Professional Conduct (RPC), demonstrating a commitment to upholding the highest standards in the legal profession.

He also informed the participants that the collaboration was necessary at a time when Nigeria was putting all hands on deck to ensure that the country exited the FATF grey list. He mentioned that the event is one of the activities that will showcase strong collaboration between competent government authorities and self-regulating bodies to address the issues of money laundering and terrorist financing.

The representative of the EFCC Chairman appreciated the large number of participants, which showed the willingness of legal practitioners to implement the NBA AML/CFT Rules of Professional Conduct.

In his welcome address, the NBA President, Mr Yakubu Chonoko Maikyau OON, SAN, appreciated the Chairman’s collaboration. He stated that the NBA needed to collaborate with the EFCC to fill the gaps identified in discharging their responsibilities. He said lawyers should take the lead in the fight against corruption as they are vested with the knowledge of the law in any society.

He said that legal practitioners must understand the laws to guide the nation. He also mentioned that the collaboration demonstrates the lawyers’ responsibility to contribute to the fight against corruption.

The President further announced the establishment of the NBA Anti-Money Laundering Committee (NBA AMLC). This significant step will serve as a crucial interface between law enforcement agencies and the NBA, facilitating effective communication and collaboration in the fight against money laundering and terrorist financing.

ACE II Ngunan Kakwagh and CSE Temitope Erinomo of the EFCC delivered insightful presentations titled ‘Overview of AML/CFT Global Requirements for Legal Practitioners’ and ‘Guidelines for Conducting Market Entry Controls and KYCs,’ respectively. A panel discussion ensued after these presentations, featuring distinguished panellists, including Prof. Ernest Ojukwu SAN and Mr. Babajide Ogundipe, a renowned member of the NBA who contributed significantly to the development of the NBA Rules of Professional Conduct Guidelines 2023, and Dr Emmanuel Sotande from the Nigerian Financial Intelligence Unit (NFIU). The panellist engaged with participants, addressing questions and sharing their expertise on the topic.