Ola Olukoyede, the Chairman of the Economic and Financial Crimes Commission (EFCC), has characterized a significant number of Nigerian lawyers as complicit in criminal activities, asserting that their involvement is crucial for the execution of large-scale financial fraud, particularly concerning illicit financial flows.
Speaking at the sixth Annual Criminal Law Review Conference in Abuja, Olukoyede emphasized that lawyers often play a key role in transferring substantial sums of money into offshore accounts, especially those located in tax havens.
“The most distressing finding by the EFCC in recent years has been the prioritization of personal gain over national interest by lawyers who have assisted dubious foreign investors in exploiting the country through fraudulent deals. The P&ID scandal, the Mambilla Power Project, and the Sunrise issues serve as prime examples,” he stated.
While acknowledging that the anti-corruption agency has prosecuted judges and senior legal practitioners, Olukoyede affirmed that his respect for the judiciary and esteemed members of the legal profession remains intact.
“However, given the unique insights gained from the EFCC’s work on corruption cases, I am particularly focused on advocating for systemic reforms within our justice delivery framework, particularly concerning the regulation and discipline of judicial officers, legal practitioners, and the ethical standards of legal practice,” he remarked.
These reforms, he noted, are vital to the EFCC’s mission of ensuring that corrupt individuals are excluded from national life and face consequences for their actions.
The EFCC chief further urged the judiciary to tackle the issue of exorbitant legal fees charged by senior lawyers to political figures, especially regarding the methods used to collect these fees, which often violate existing laws.
“If a lawyer is indifferent to the source of the substantial payments made by a sitting governor or other public officials for representation at electoral tribunals, it is imperative that they understand the necessity of receiving such significant amounts through legitimate financial channels. Accepting large sums of professional fees in cash from public office holders not only breaches money laundering laws but also indicates a motive for tax evasion,” he explained.
He concluded by stressing that the best way for established lawyers to guide younger members of the profession is to exemplify the ethical standards demanded by their vocation.
