The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has called on the Nigerian National Assembly to pass a law that supports the government’s whistleblower policy.
This appeal was made on Tuesday, August 27, 2024, during the Nigerian Bar Association (NBA) conference in Lagos, themed “Lawyers in the Spotlight: Essential Anti-Money Laundering Considerations for the Legal Profession.”
Olukoyede emphasized the importance of protecting whistleblowers, stating that enacting such a law would make it mandatory for law enforcement agencies to ensure the safety and security of those who expose financial crimes. “Once this law is in place, it will provide the necessary protection for whistleblowers, ensuring that their safety is not compromised,” Olukoyede said.
The EFCC chairman also addressed the legal profession, urging lawyers across the country to adhere to due diligence in their practices, particularly in understanding the backgrounds of their clients to avoid violations of Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) regulations. He warned against protecting individuals involved in financial crimes, stressing the ethical obligations of lawyers. “As lawyers, we are entrusted with a position of trust in our professional conduct. We must not protect suspected criminals or those who have committed financial crimes,” he stated.
Olukoyede highlighted the need for lawyers to ensure that the funds they receive are from legitimate sources. “It is crucial for you to know who your client is and to ensure that you are paid from legitimate sources,” he added. He further warned that lawyers are not insulated from prosecution if they fail to comply with these standards. “It is my duty to trace the proceeds of crimes, and if I trace it to you, I will invite you for questioning. It is your duty to answer my questions.”
Responding to Olukoyede’s remarks, NBA President Yakubu Maikyau encouraged his colleagues to receive the EFCC chairman’s charge with an open mind. He emphasized the importance of the legal profession in the fight against corruption, stating, “Who else should be in the vanguard of the fight against corruption other than us, the lawyers?” He said.
