The President of the Nigerian Bar Association (NBA), Oyinkansola Badejo-Okusanya, SAN, has commended the leadership of the Economic and Financial Crimes Commission (EFCC) under its Executive Chairman, Ola Olukoyede, for its efforts in combating economic and financial crimes.

Badejo-Okusanya made the remarks when she led a delegation of the NBA on a courtesy visit to the EFCC Corporate Headquarters.

The NBA president said the Association had been monitoring the Commission’s activities, particularly its investigations, prosecutions and recovery of proceeds linked to financial crimes.

According to her, the results recorded by the anti-graft agency were increasingly visible, noting that the legal profession had observed the impact of the Commission’s work.

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“When we see things that are done and done properly, we appreciate them,” she said, adding that the NBA had followed the statistics on recoveries and convictions.

She said the Association could “see, feel, and hear the impact” of the EFCC’s activities under Olukoyede’s leadership.

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Badejo-Okusanya also praised the EFCC and other government agencies for their contribution to Nigeria’s removal from the Financial Action Task Force (FATF) grey list.

She said the development had positive implications for Nigeria’s business environment, particularly by improving confidence in the country’s financial system and making cross-border transactions easier for businesses and their clients.

“For us as lawyers, we are grateful for the removal of the country from the FATF grey list,” the NBA president said.

She added that the development would encourage increased financial inflows and allow clients to conduct international business transactions with fewer difficulties and lower costs.

Badejo-Okusanya expressed hope that the progress would be sustained, stressing that efforts aimed at strengthening Nigeria’s financial system should not regress.

The NBA president further reaffirmed the Association’s willingness to deepen its partnership with the EFCC in the fight against criminal activities and in promoting a lawful and orderly society.

She said an effective legal system was essential to economic development, arguing that economic activities and improvements in quality of life could not be sustained without respect for the rule of law.

Badejo-Okusanya also offered the professional expertise of the NBA to the Commission, particularly in areas of knowledge sharing and legal support.

She said closer cooperation between the two institutions could contribute to strengthening Nigeria’s legal framework and addressing economic and financial crimes.

Responding, Olukoyede attributed Nigeria’s removal from the FATF grey list to the combined efforts of the EFCC and other government agencies.

He appreciated the NBA for its support, saying the Association’s cooperation had contributed to the country’s progress within the global financial system.

According to Olukoyede, much of the work that contributed to Nigeria’s removal from the list was carried out by the EFCC in collaboration with sister agencies.

The EFCC chairman said the development had placed Nigeria on a better footing within the international financial ecosystem.

Olukoyede also assured the NBA that the EFCC conducts its investigations within the provisions of the law and remains accountable to the Nigerian public.

He recalled his commitment to using the law in addressing economic and financial crimes while ensuring that the Commission operates within its legal mandate.

The EFCC chairman further highlighted the importance of prevention in the fight against corruption.

Rather than waiting for funds to be stolen before taking action, he said the Commission was developing preventive mechanisms designed to identify and address fraud risks before they result in financial losses.

He pointed to the establishment of the Fraud Risk Assessment and Control (FRAC) Department as part of the Commission’s preventive approach.

Olukoyede also pledged continued collaboration with the NBA, including efforts aimed at strengthening professional standards within the legal sector and improving cooperation between lawyers and the anti-corruption agency.

The meeting therefore underscored the importance of cooperation between law enforcement institutions and the legal profession in tackling financial crimes, strengthening the rule of law and supporting confidence in Nigeria’s financial system.