Notice Of Zonal Workshops And Questionnaires On The Legal Professionals Anti-Money Laundering And Countering Terrorist Financing And Proliferation Financing (AML/CFT/PF) Risk Assessments In Nigeria

Dear Colleagues,

The Nigerian Bar Association Anti-Money Laundering Committee (NBAAML Committee), in collaboration with the African Center for Governance, Asset Recovery and Sustainable Development (AC), is conducting an Anti-Money Laundering and Countering Financing of Terrorism and Proliferation Financing (AML/CFT/PF) risk assessment of the Legal Sector in Nigeria. As part of the workshop, a questionnaire has been attached to provide additional information. The questionnaire aims to assess the inherent risks related to money laundering, terrorist financing, and proliferation financing (ML/TF/PF) within the legal profession in Nigeria. Click the link below to fill out the AML/CFT questionaire

https://docs.google.com/forms/d/1Y3ecRYm64SWM83JQEHO7ZYauP3AfYXB8o9jJMZzSvq4/edit?usp=sharing_eip&ts=670e2597&urp=gmail_link

It is specifically designed to gather data from legal professionals in law firms or independent practitioners to understand how their practices may be exposed to ML/TF. The data collected will inform risk assessments, help identify specific areas within the legal sector susceptible to money laundering and terrorism financing, inform resource allocation, and ensuring targeted measures to mitigate identified risks.

Conducting a risk assessment of the legal sector in Nigeria on money laundering and terrorism financing is crucial for several reasons including:

1. To improve client due diligence, enabling lawyers to identify high-risk clients.
2. Ensures compliance with Part 2 of the Rules of Professional Conduct for Legal Practitioners.
3. Facilitates cooperation with Nigeria’s international partners in combating money laundering and terrorism financing.

By conducting regular risk assessments, Nigeria’s legal profession can strengthen its defenses against money laundering and terrorism financing, and maintain the integrity of the profession as a self-regulatory organ. Additionally, members are invited to participate in zonal workshops  that will hold on the following dates:

This workshop will have ICLE credit points attached to them. Please co-operate with the NBAAML Committee in this project and spare a short time to complete the questionaire on the risk assessment.

Bridget Edokwe
Publicity Secretary, Nigerian Bar Association
Date: 22 October 2024