The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has called on the National Assembly (NASS) to pass legislation that would formalize and strengthen the whistle-blower policy of the Nigerian government.
Speaking at the Nigerian Bar Association (NBA) conference in Lagos on Tuesday, Olukoyede emphasized that such a law would mandate law enforcement agencies to protect whistle-blowers, ensuring they are not left vulnerable after exposing financial crimes.
The conference, themed ‘Lawyers in the spotlight: Essential anti-money laundering considerations for the legal profession,’ provided a platform for Olukoyede to discuss the crucial role of lawyers in the fight against corruption.
He urged legal professionals to exercise due diligence in their practices, emphasizing the need to thoroughly vet their clients to avoid complicity in money laundering or other financial crimes.
“Lawyers are expected to hold a position of trust and integrity in their professional conduct,” Olukoyede stated.
“It is imperative that you know who your clients are and ensure that the payments you receive are from legitimate sources. Failing to do so not only jeopardizes your career but also undermines the sanctity of the legal profession.”
He warned that lawyers who knowingly aid criminals could face prosecution.
“My duty is to trace the proceeds of crime, and if those proceeds lead to you, be prepared to answer questions. The law does not exempt anyone from accountability,” Olukoyede added.
The EFCC chairman’s remarks also highlighted the need for Nigerian lawyers to align with international laws and regulations on anti-money laundering and counter-terrorism financing (AML/CTF).
He stressed that adherence to these regulations is essential, not just for compliance, but to restore Nigeria’s standing in the global community.
Responding to Olukoyede’s address, NBA President Yakubu Maikyau expressed support for the EFCC’s stance, urging his colleagues to take Olukoyede’s message to heart.
“We, as lawyers, should be at the forefront of the fight against corruption,” Maikyau said.
He encouraged a collaborative relationship between the NBA and the EFCC, noting that such partnerships are vital for maintaining the integrity of the legal profession and the nation’s financial systems.
As the legal community in Nigeria grapples with the challenges of maintaining ethical standards in the face of widespread corruption, Olukoyede’s call for legislative backing and professional accountability serves as a stark reminder of the pivotal role lawyers play in safeguarding the rule of law.