NBA Sensitizes Lawyers on Anti-Money Laundering, Terrorism Financing Rules

By Praise Chinecherem

The Nigerian Bar Association (NBA) Idemili Branch, Anambra state has sensitized their members on the latest Review of Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) Rules for Legal Practitioners to foster transparency and accountability.

Speaking during the first 2025 Bar meeting of the NBA Idemili Branch at the Fountain Bar Center Ogidi High court, Idemili North LGA, Anambra State,the Chairman of the Branch, Barr. Mrs Chidi Betsy Nnaji said the purpose of the sensitization cum training program was to prevent misuse of legal services for financial crimes.

According to Nnaji who was recently elected the Chairman of all Chairmen, NBA Anambra State, the resolution made in our National Executive Council (NEC) meeting was to ensure that this latest rules are brought to the knowledge of lawyers through all NBA branches to avoid a lawyer becoming a victim of money laundering or sponsorship of Terrorism.

“Chapter 2 of the Rules of Professional Conduct for Legal Practitioners(RPC), 2023 which became effective as from January 2024 provides guidelines to prevent money laundering (ML) and terrorism financing (FT) in Nigeria’s legal profession. These rules align legal practice with international AML/CFT standards while upholding ethical principles.

“The objective of the guidelines include to Prevent misuse of legal services for financial crimes, Ensure compliance with global AML/CFT standards (e.g., FATF recommendations, Encourage a risk-based approach to client transactions, to Protect the legal profession’s integrity, Balance confidentiality with AML/CFT reporting obligations.

“The guidelines applies to all legal practitioners, particularly those handling: Client funds or assets, Legal entity or trust creation, Large or complex financial transactions.

“Legal practitioners are obligated to Verify client identities, maintain records, and assess transaction purposes – Client Due Diligence (CDD). Secondly, Apply stricter checks for high-risk clients (e.g., Politically Exposed Persons, high-risk jurisdictions – Enhanced Due Diligence (EDD).

“Thirdly, Maintain transaction records for at least five years and report suspicious activities – Record-Keeping & Reporting. Fourthly, Screen clients against national and international sanctions lists and report matches to relevant authorities – Sanctions Compliance,” said Mrs Nnaji.

She said that compliance aligns Nigeria with global AML/CFT standards, Improves risk management practices, Protects lawyers from unintended legal consequences.

However, the Chairman warned that the Nigerian Bar Association Anti-Money Laundering Committee (NBA-AMLC) established to play the Supervisory Role would in the case of non- compliance penalize or refer defaulters to the Legal practitioners Disciplinary Committee.

Moreso, Mrs Chidi Betsy Nnaji reiterated the significance of lawyers embracing the proper dressing code they were taught in law school saying that a committee would be set up to sanction legal practitioners who chose to dress like traders or artisans.

Also, Mrs Nnaji rendered well articulated and printed account of all financial transactions carried out from July to December 2024 maintaining that she wanted to make true her campaign promise on transparency and accountability.

Nnaji who is the new Chairman of Committee of Chairmen NBA Anambra State informed the Branch that her first action as the Chairman, COC was to ensure that the body wrote letters to the President of Court of Appeal,His Lordship, Justice Monica Dongban- Mensem and Governor Chukwuma Soludo of Anambra State calling on them to urgently ensure Resumption of sittings at the Court of Appeal, Awka Division which was shut down about 10 months ago on the bases of insecurity.

She lauded Governor Soludo for the recent improvement in security after the launching of Agunechemba/Operation Udo Ga-Achi in the state.

In his remarks, the First Idemili Branch Chairman, Barr. Chike Nonyelum lauded Barr Chidi B Nnaji for rendering the articulated and documented accounts of both income and expenditure saying that no branch Chairman has done that over a decade.

Nonyelum also called on Governor Soludo to check the activities of the homeland security -Agunechemba who has started mounting road blocks to extort money from motorists saying that he was an eye witness.

The Leader of the Fountain Bar, George Chiedu Igbokwe SAN called on Governor Soludo to appoint more Judges in the state and create more courts through the Judiciary for speedy justice delivery.

Highlights of the robust Bar meeting include the setting up of the 2025 Diary &Law week Committee after the dissolution of the last year’s committee, Quiz& win prize competition on the newly reviewed Rules of Professional Conduct for Legal Practitioners(RPC) anchored by Barr. Chukwubuikem Obianyor. A short homily on the need for lawyers to be thankful to God and shine as light by Barr Ike Obianyo.