We are excited to announce the release of the “Policy Brief on the Nigerian Legal Sector AML/CFT/PF Risk Assessment,” a detailed study by the NBA Anti-Money Laundering Committee. This publication highlights key vulnerabilities and solutions for combating financial crimes within Nigeria’s legal profession.
Key Insights
The report identifies critical challenges, including:
Ethical Dilemmas: Balancing client confidentiality with AML obligations.
Compliance Gaps: Inadequate frameworks, especially in smaller firms.
Resource Disparities: Uneven access to compliance tools.
Recommendations
To strengthen the sector, the brief recommends:
Mandatory Training: Regular AML/CFT/PF education.
Enhanced Supervision: Stronger enforcement of compliance.
Policy Reviews: Ongoing updates to stay ahead of risks.
Why It Matters
This report aims to position Nigeria’s legal sector as a global model of integrity and compliance, reinforcing its role in fighting financial crimes.
Download the policy brief here and join the movement to build a resilient legal framework in Nigeria.
