EFCC Clarifies Foreign Currency Legal Fees Position

The Economic and Financial Crimes Commission (EFCC) has clarified that recent remarks from its Lagos Zonal Directorate regarding lawyers charging professional fees in foreign currency do not reflect the Commission's overall policy. EFCC Chairman, Ola Olukoyede, made this explanation during a visit to the Commission's headquarters in Abuja by the President of the Nigerian Bar Association (NBA), Oyinkansola Badejo-Okusanya, SAN.

Badejo-Okusanya expressed concerns about the comments, emphasizing that charging professional fees in foreign currency alone does not constitute a criminal offense. Olukoyede, acting as the EFCC's official spokesperson, clarified that the comments from the Lagos Directorate were taken out of context and did not accurately represent the Commission's stance.

He elaborated that the EFCC investigates only when allegations align with its statutory mandate and relevant financial-crime laws. NBA President Badejo-Okusanya urged the Commission to adhere to due process in its investigations and arrests, avoiding sensational media trials and overzealous actions. Olukoyede acknowledged these concerns and stressed the importance of professionalism and respect for the law.

The clarification comes amid controversy among lawyers over the implications of charging professional fees in foreign currency for potential criminal prosecution.