You are Expected to be Paid from Legitimate Source - EFCC Boss Issues Warning to Lawyers

At the 64th Annual General Conference of the Nigerian Bar Association (NBA) in Lagos, the Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, issued a stern warning to legal practitioners.

He emphasized the importance of adhering strictly to Anti-Money Laundering and Counter Terrorism Financing (AML/CTF) regulations.

Olukoyede highlighted the critical need for lawyers to conduct thorough due diligence on their clients to avoid violating these rules.

"As lawyers, we are supposed to hold a position of trust in our professional conduct," he stated. "While we try to comply with international laws and regulations, we should also do what is right for ourselves to protect the sanctity of our profession, which is very key."

The EFCC boss made it clear that lawyers are not immune from prosecution for non-compliance and must ensure their payments originate from legitimate sources.

"It is my duty to trace the proceeds of crimes. And if I trace it to you, I will invite you for questioning, and it is your duty to answer my questions," he warned. "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."

Olukoyede urged the legal community to take cognisance of international conventions against money laundering. "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," he added. Supporting Olukoyede's stance, NBA President Yakubu Maikyau, SAN, called on lawyers to lead the fight against corruption. "Who else should be in the vanguard of the fight against corruption other than us?" he asked, urging his colleagues to receive Olukoyede’s charge with an open mind.