EFCC: The Economic and Financial Crimes Commission has clarified that charging legal fees in foreign currency does not, by itself, constitute a criminal offence or represent a blanket basis for prosecution.
EFCC Chairman Ola Olukoyede made the clarification during a meeting with a Nigerian Bar Association delegation led by NBA President Oyinkansola Badejo-Okusanya, SAN.
The meeting followed controversy generated by comments attributed to officials of the Commission’s Lagos Zonal Directorate concerning lawyers who demand professional fees in foreign currencies.
Badejo-Okusanya raised the legal profession’s concerns and maintained that receiving fees in dollars or another foreign currency could not automatically amount to an offence.
Olukoyede said the earlier remarks did not represent a blanket policy of the Commission and explained that the EFCC investigates transactions where allegations fall within its statutory mandate and applicable financial-crime legislation.
The NBA President also raised concerns about media trials, sensational arrests and the need for thorough investigation before suspects are prosecuted.
The development provides important clarification for legal practitioners involved in international transactions, foreign clients and cross-border retainers. The central question in any investigation would be the legality and circumstances of the transaction rather than merely the currency in which a professional fee was denominated.
- READ MORE: NBA President Visits EFCC, Seeks Clarity on Foreign-Currency Legal Fees
- RELATED: Dollar Legal Fees: Where Does Nigerian Law Draw the Line?
- SOURCE: Nigerian Bar Association
