In a significant step towards enhancing Nigeria’s legal sector against financial crime, NBA President Mazi Afam Osigwe, SAN, addressed legal professionals at the Abuja NBA’s AML/CFT Legal Sector Risk Assessment Zonal Workshops. Conducted in partnership with the African Center for Governance and Asset Recovery, these workshops, held nationwide, aim to equip lawyers with the tools needed to combat money laundering and terrorism financing effectively.
Osigwe underscored the NBA’s role in both national and global efforts against financial crime, stressing the balance lawyers must maintain between client confidentiality and preventing illicit use of legal services.
He outlined three key pillars of the NBA’s AML/CFT approach:
- Awareness and Capacity Building: Educating lawyers on financial crime risks to improve detection and response strategies.
- Compliance with Regulatory Standards: Collaborating with government and regulatory agencies to streamline compliance.
- Collaboration with Authorities: Partnering with agencies like the EFCC and NFIU to unify efforts against financial crime.
Osigwe also announced the creation of an AML/CFT Compliance Unit within the NBA Secretariat to provide ongoing support and guidance to legal professionals. Recognizing the challenges lawyers face, he highlighted the workshops as a space to share insights and solutions that uphold both ethical principles and AML/CFT requirements.
He concluded by urging the legal sector to remain a steadfast partner in combating financial crime: “Let us work together to ensure the Nigerian legal sector stands as a model for ethical practice, resilience, and accountability.
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The African Center for Governance, Asset Recovery, and Sustainable Development (“the African Center”) is an independent, civil society organization headquartered in Abuja, Nigeria. We collaborate with national governments, international and regional organizations, and non-governmental organizations to promote good governance, sustainable development, and the rule of law.
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