The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has made a bold statement claiming that no major financial fraud, especially illicit financial flows, can take place without the involvement of lawyers.
Olukoyede made these remarks during the opening of the 6th Annual Criminal Law Review Conference held in Abuja, a five-day event focused on optimizing the administration of criminal justice in Nigeria amid the challenges of insecurity and economic hardship.
The EFCC chairman highlighted the critical role lawyers play in facilitating the transfer of large sums of money into offshore accounts, often in tax havens, which he said was done with legal expertise.
He pointed out that the involvement of lawyers in dubious financial transactions is one of the most disturbing discoveries the EFCC has made in recent years.
“The most traumatic discovery of the EFCC in recent years was the subjugation of national interest and wellbeing to personal interest by lawyers who aided briefcase foreign investors to fleece the nation in dubious transactions,” Olukoyede said.
He referenced several high-profile cases where lawyers were implicated, including the P&ID scam, the Mambilla Power Project, and the Sunrise issues, which have tarnished the nation’s image.
Lawyers Aiding Corruption: A Growing Concern
Olukoyede’s remarks reflect growing concerns over the role of legal professionals in enabling large-scale corruption.
While the EFCC has successfully prosecuted judicial officers and senior lawyers in the past, Olukoyede emphasized that his respect for the judiciary and senior members of the legal profession remains intact.
However, his focus is on systemic reforms to address the actions of corrupt legal practitioners.
“I am particularly interested in systemic reforms in our justice delivery system that capture the regulation and discipline of legal practitioners, as well as the ethics, values, and standards of legal practice,” he explained.
EFCC’s Role in Combating Corruption
The EFCC Chairman stressed that the agency’s core mission is to ensure that corruption does not find space in Nigeria’s national life and to hold those involved accountable for their actions.
His comments underline the importance of tackling corruption at every level, including those who may be aiding it from within the legal system.
Olukoyede also called on the judiciary to address the issue of “obscene legal fees” earned by senior lawyers from political office holders, particularly those paid by public servants.
He raised concerns about how such fees are often collected, which he believes conflicts with existing legal regulations.
“If a lawyer would not care about the source from which a sitting governor or any other public servant pays him millions of naira to defend him in an electoral tribunal, the lawyer must necessarily be mindful of the fact that the only proper way to collect such humongous amounts is through the financial system,” Olukoyede said.
He further emphasized that accepting large sums of money in cash from public office holders violates anti-money laundering laws and can often be linked to tax evasion.
Call for Reform in Legal Practice
The EFCC Chairman believes that the legal profession must hold its members to higher ethical standards.
“It is needless to stress that the best act of mentoring from leaders of the bar to the younger generation of lawyers is by living out the ethical demands of the profession,” he stated.
He called for reforms to ensure that legal practitioners, particularly senior lawyers, conduct their practices in accordance with the law and uphold the integrity of the legal system.
