The Executive Chairman of the Economic and Financial Crimes Commission, EFCC Ola Olukoyede has engaged lawyers under the umbrella of Nigerian Bar Association (NBA) in relation to compliance with Anti-Money Laundering/Combating Financing of Terrorism, (AML/CFT) regulations.
The event tagged: “NBA AML Guidelines: A Practical Approach for Legal Practitioners” was organized by the Special Control Unit against Money Laundering, SCUML, a department in the EFCC in collaboration with the NBA as part of efforts to enlighten legal practitioners on the importance of compliance with AML/CFT regime.
as the evaluation of Nigeria by the Financial Action Task Force, FATF, was bleak and called for much work to be done in addressing the identified gaps.
This collaboration couldn’t have come at a better time. You are all aware that we are on a Grey List, so there are certain actions that are expected of us as a country to take and show forth to the world that we are going in the right direction. So this event is one of those activities that will show that there is strong collaboration between competent authorities of government and self-regulating bodies to address the issue of money laundering and terrorist financing,” he said.
Ngunan Kakwagh and Chief Superintendent of the EFCC, CSE Temitope Erinomo gave lectures on “Overview of AML/CFT Global Requirements for Legal Practitioners’ and “Guidelines for Conducting Market Entry Controls and KYCs” respectively. Panelists, comprising Professor Ernest Ojukwu, SAN and Babajide Ogundipe who contributed in the drafting of the AML guidelines answered questions from participants.
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