NBA LEGAL SECTOR RISK ASSESSMENT REPORT 2024 PUBLISHED
Nigeria’s mutual evaluation reports and recent case studies have demonstrated the vulnerabilities of legal professionals to ML/TF/PF. In response, the Nigerian Bar Association Anti-Money Laundering Committee (NBA-AMLC) conducted a risk assessment survey. The scope of the survey was to gain a strong understanding of the AML/CFT/PF vulnerabilities that legal professionals perceive themselves to be exposed to; Evaluate the level of knowledge, awareness and training that lawyers have in relation to AML/CFT/PF compliance. The Risk Assessment Report, represents a significant step towards enhancing the legal sector’s compliance with Nigeria’s Anti-Money Laundering, Counter-Terrorist Financing, and Proliferation Financing (AML/CFT/PF) obligations. It is a milestone in the effort of the NBA to operationalise the AML/CFT enforcement and supervisory powers in the Rules of Professional Conduct, 2023, and the NBA AMLC Rules and Protocols, 2024.