NBA AGC 2025: The ‘Dirty Money’ Breakout Session in Enugu
The Nigerian Bar Association's Annual General Conference 2025 in Enugu delivered yet another impactful session that left legal practitioners with valuable insights. The breakout session titled 'Dirty Money' proved to be one of the most enlightening discussions of the conference, addressing the critical intersection between the legal profession and anti-money laundering (AML) compliance.
Featured Panelists
- Madam Juliet Ibekaku - Executive Director of the African Center and NBA AMLC Member
- Prof. Ojukwu Ernest, SAN - Co-chair of the NBA Anti-Money Laundering Committee (AMLC)
- Felix Obiamalu - General Counsel of the Nigerian Financial Intelligence Unit (NFIU)
- Olabisi Makanjuola - Former Chairman of Lagos NBA Branch
Main Discussion Points
- The Compliance Gap Between Firm Sizes: The perceived disparity in AML obligations between small firms or sole practitioners and larger law firms. Many practitioners had concerns about their capacity to meet compliance requirements given their resource constraints.
- Client Confidentiality Challenges: The delicate balance between maintaining client confidentiality and meeting AML reporting obligations—a concern that has long troubled many legal practitioners.
- Identifying the Thin Line: The often unclear distinction between clean and dirty money, helping practitioners understand the warning signs and red flags they should watch for.
Key Insights & Takeaways
- AML Compliance is in Lawyers' Best Interest: Proper AML practices protect legal practitioners and their practices from reputational and legal risks, rather than being a burden.
- Size Doesn't Matter: Smaller firms and sole proprietors are not at a disadvantage. In fact, they may be better positioned to implement effective compliance measures due to their more intimate knowledge of their client base and transactions.
- Practical Implementation: Guidance was provided on how lawyers at every level can effectively implement AML compliance measures without overwhelming their operations.
The session generated tremendous enthusiasm among attendees. The quality of the presentations and the practical value of the insights shared left many participants thoroughly impressed.
Several lawyers expressed regret that such crucial topics are not part of regular legal discourse, with many lamenting that they had not been exposed to such comprehensive AML guidance earlier in their careers. The session highlighted a clear need for more frequent and widespread education on these critical compliance issues.
The 'Dirty Money' session at NBA AGC 2025 has undoubtedly set a new standard for practical, implementable legal education. It demonstrated the NBA's commitment to ensuring that Nigerian lawyers are well-equipped to navigate the complexities of modern legal practice while maintaining the highest standards of professional integrity.
As the legal profession continues to evolve in an increasingly regulated environment, sessions like these become not just valuable, but essential for every practitioner who seeks to build a sustainable and compliant practice.
BJ Attorneys remains committed to staying at the forefront of legal compliance and professional development. We encourage all legal practitioners to prioritize AML compliance as both a professional obligation and a strategic advantage.