Author(s)

Felix Emeakpore Eboibi, Inetimi Mac-Barango

Faculty of Law, Niger Delta University, Wilberforce Island, Yenagoa, Bayelsa State, Nigeria.

Legal professionals are generally depicted as possible “gatekeepers” to money laundering as a result of the kind of services they render to clients by the Financial Action Task Force (FATF). Consequently, there is the global quest for anti-money laundering obligations to be imposed on legal professionals. However, recent legal development in Nigeria seems to have absolved legal practitioners from anti-money laundering regulations based on the Nigerian Court of Appeal judgment between the Central Bank of Nigeria v Registered Trustees of Nigerian Bar Association & Attorney General of the Federation. This paper critically examines how this development impinges on the fight against money laundering and its implication on legal professionals and the Nigerian polity. Comparatively, the United Kingdom is globally seen as one of the countries that have complied with the FATF Recommendations with specific reference to legal professionals. In this regard, the United Kingdom’s approach is suggested for adaptation by the Nigerian government and Nigerian Bar Association.

Nigerian Money Laundering Regulation, Financial Action Task Force, Legal Professionals, United Kingdom Money Laundering Regulation

Eboibi, F. and Mac-Barango, I. (2019) Global Eradication of Money Laundering and Immunity for Legal Practitioners under the Nigerian Money Laundering Regulation: Lessons from the United Kingdom. Beijing Law Review, 10, 769-794. doi: 10.4236/blr.2019.104042.