The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, on Tuesday, August 27, 2024, issued a stern warning to lawyers across the country, urging them to exercise due diligence in their practices by conducting thorough background checks on their clients.
This, he emphasized, is crucial to avoid unwittingly facilitating money laundering and terrorism financing activities. This was made public through a statement by the commission's Head of Media and Publicity, Dele Oyewale.
Speaking at the 64th Annual General Conference of the Nigerian Bar Association (NBA), Olukoyede stressed the importance of knowing the background of clients to ensure that payments received are from legitimate sources.
He cautioned that lawyers have a critical role to play in preventing financial crimes and must be vigilant in their dealings.
Olukoyede urged lawyers to be professional in their conduct and to protect the sanctity of their profession. He emphasized that the EFCC will not hesitate to take action against any lawyer found to be complicit in money laundering or other financial crimes.
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.
The EFCC chairman warned that lawyers who fail to do the right thing will not be insulated from prosecution, emphasizing that the commission will trace proceeds of crimes and invite lawyers for questioning if necessary. He clarified that lawyers are entitled to their pay, but the money must not be proceeds of crimes.
Olukoyede's call to action aims to prevent lawyers from unwittingly aiding and abetting crimes, emphasizing the need for transparency and accountability in their practices.
He reminded lawyers that they are not only officers of the court but also gatekeepers of the financial system, and as such, they must be proactive in preventing financial crimes.
The EFCC chairman's warning comes amidst growing concerns about the involvement of some lawyers in money laundering and other financial crimes. The commission has been working to strengthen its collaboration with the legal profession to prevent financial crimes and protect the integrity of the financial system.
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