MONEY LAUNDERING

EXCLUSIVE: ARRAIGNMENT – SHASORE HIRES 4 TOP SENIOR ADVOCATES TO BATTLE EFCC

Former Lagos State Attorney-General and Commissioner for Justice, Mr. Olasupo Shasore SAN has hired four leading senior Advocates of Nigeria (SAN) to lead his defence as he is set to be arraigned before Justice Chukwujekwu Aneke of the Federal High Court, Lagos today.

Leading the team is respected law reform advocate, Mr. Charles Candide-Johnson SAN. Others in the crack defence team are Mr. Olawale Akoni SAN, Dr. Muiz Banire SAN, and Mr. Chijioke Okoli SAN.

CITY LAWYER also gathered that another go-to senior lawyer may join and lead the defence team in court today, as Shasore battles to clear his name over a four-count charge levied against him by the Economic and Financial Crimes Commission (EFCC).

Meanwhile, a bail application obtained by CITY LAWYER shows that the legal team for the embattled senior lawyer will be seeking for him to go home on bail on self-recognisance.

Dated 13th October, 2022 and filed the same day, the bail application is seeking “AN ORDER admitting the Applicant to bail on ‘self-recognisance’ and/or on such reasonable and liberal terms as the Honourable Court may determine pending the hearing and determination of this Charge.”

The application is supported by a 20-paragraph affidavit deposed by one Orji Agwu Uka, a legal practitioner and one of the defence lawyers.

The matter is filed as Charge No. FHC/L/447C/2022, Federal Republic of Nigeria and Olasupo Shasore, SAN.

CITY LAWYER recalls that the EFCC had filed a four-count charge against Shasore bordering on alleged money laundering among others.

Count one of the charge reads: “That you Olasupo Shasore, S.A.N. on or about the 18th day of November 2014 in Lagos within the jurisdiction of this Honourable Court induced Olufolakemi Adelore to commit an offence, to wit accepting cash payment of the sum of US100,000.00 (One Hundred Thousand United States Dollars) without going through a financial institution which such exceeded the amount authorised by Law and you thereby committed an offence contrary to section 78(c) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under section 16(6) of the same Act.”

Count two reads: “That you Olasupo Shasore, S.A.N on or about the 18th day of November 2014 in Lagos within the jurisdiction of this Honourable Court, in a transaction without going through a financial institution, made cash payment of the sum of USD 100,000.00 (One Hundred Thousand United States Dollars) to Olufolakemi Adelore through Auwalu Habu and Wole Aboderin, which sum exceeded the amount permitted by Law and you thereby committed an offence contrary to sections 1(a) and 16(1)(d) the Money Laundering (Prohibition) Act, 2011 (as Amended) and punishable under section 16(2)(b) of the same Act.”

Count three reads: “That you Olasupo Shasore, S.A.N., on or about the 18th November, 2014, in Lagos within the jurisdiction of this honourable Court, induced one Ikechukwu Oguine, to commit an offence, to wit: accepting case payment of the sum of USD100,000.00 (One Hundred thousand United States Dollars) without going through a financial institution, which such amount exceeded the amount permitted by Law and you thereby committed an offence contrary to Section 18(c) of the Money Laundering Act, 2011 (as amended) and punishable under Section 16 (2)(b) Of the same Act.”

Count four reads: “That you Olasupo Shasore, S.A.N on or about the 18th day of November 2014 in Lagos, within the jurisdiction of this Honourable Court, without going through a financial institution and made cash payment of the sum of USD100,000.00 (One Hundred thousand United State Dollars) to one Ikechukwu Oguine which sum exceeded the amount permitted by Law and you thereby committed an offence contrary sections 1(a) and 16(1),(d) of the Money Laundering (Prohibition Act, as amended) and punishable under section 16 (2)(b) of the same Act.”

It is recalled that Shasore was last January invited by the anti-graft agency to shed light on his involvement in the Process and Industrial Developments (P&ID) case. The former Lagos attorney-general had represented Nigeria on the P&ID case.

The Federal Government had told a UK court that Shasore colluded with P&ID to pervert justice in the controversial gas supply purchasing agreement (GSPA) contract. Shasore denied the allegation in an interview.

The P&ID had won a $9.6 billion judgment against Nigeria in a British court, claiming that it entered a contract to build a gas processing plant in Calabar, Cross River State. The company stated that the deal collapsed because the Federal Government did not fulfil its side of the bargain.

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  • EDITOR'S CHOICE
  • Feb 19, 2021
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  • Comments Off on ‘LAWYERS WILL GET ANTI-MONEY LAUNDERING RULES SOON,’ SAYS AKPATA

‘LAWYERS WILL GET ANTI-MONEY LAUNDERING RULES SOON,’ SAYS AKPATA

The Nigerian Bar Association (NBA) is set to roll out anti-money laundering guidelines for lawyers across the country. This was disclosed by NBA President, Mr. Olumide Akpata while receiving a delegation from the National Financial Intelligence Unit (NFIU) led by its Chief Executive Officer – Mr. Modibbo R. Tukkur.

In a statement by NBA Publicity Secretary, Dr. Rapulu Nduka, Akpata said the guidelines had become imperative to ensure that lawyers are not conduits for money laundering activities. According to the statement which was made available to CITY LAWYER, “The NBA President thereafter, pledged to set up an Anti-Money Laundering Committee that will come up with a robust Anti-Money Laundering Rules which will govern legal practitioners in their dealings with clients, both corporate and private.”

It is recalled that NBA has been in a face-off with the Economic and Financial Crimes Commission (EFCC) over implementation of Section 5 of the Money Laundering (Prohibition) Act 2011 which mandated lawyers to report certain financial transactions by their clients to the anti-graft body through the Special Control Unit against Money Laundering (SCUML). SCUML, the forerunner to NFIU, was originally under the supervision of the EFCC.

In an Originating Summons dated March 15, 2013 and taken out on behalf of the Registered Trustees of the NBA by Chief Wole Olanipekun (SAN), Mrs. Funke Adekoya (SAN), Messrs Babajide Ogundipe, Emeka Nwadioke and Davison Oturu, the NBA asked the court to declare that the provisions of section 5 of the Money Laundering (Prohibition) Act, insofar as they purport to apply to legal practitioners, were invalid, null and void.

Ruling on the matter, Justice Gabriel Kolawole of the Federal High Court, Abuja gave an order of perpetual injunction restraining the Federal Government, the Central Bank of Nigeria (CBN) and SCUML from enforcing the provisions of the Money Laundering (Prohibition) Act 2011 against legal practitioners. The judgement was CBN-VS-NBA_CA on appeal by a full panel of the Court of Appeal. CITY LAWYER gathered that a final appeal may be pending at the Supreme Court.

Below is the full text of the statement.

ANTI-CORRUPTION WAR: NATIONAL FINANCIAL INTELLIGENCE UNIT MEETS WITH NBA LEADERSHIP; SEEKS NBA’S COOPERATION IN COMBATING MONEY LAUNDERING AND OTHER CORRUPT PRACTICES.

Dear Colleagues,

The National Financial Intelligence Unit (“NFIU”) paid a courtesy call on the leadership of the Nigerian Bar Association (“NBA”) on the 17th day of February 2021.

During the course of the engagement, the NFIU team led by its Chief Executive Officer – Mr. Modibbo R. Tukkur, highlighted the critical role of the NBA and its members in fighting corruption, as the nature of their work places them in a privileged position of requesting disclosure of sources of funds, investigation of funds, checkmating money laundering and other corrupt practices.

The NFIU boss also reiterated that NBA’s role as a Self-Regulatory Organization, imposes a moral responsibility on the NBA and her members to ensure that there are ethical rules that modulate their relationship with clients and members of the society at large.

Against the above background, the NFIU team recommended to the Association as follows, that:

I. The NBA sets up a dedicated Self-Regulatory desk officer at the NBA Secretariat.

II. The NBA sets up an Anti-Money Laundering Committee to collaborate with the NFIU on its anti-corruption mandate.

III. The NBA trains legal practitioners on their roles in fighting money laundering and related corrupt practices.

IV. The NBA partners with NFIU at large.

In response, the NBA President pledged the commitment of the NBA to work with existing government agencies in ensuring that legal profession in Nigeria is practised in line with global best practice so that legal practitioners are not seen to be enablers, or facilitators of corrupt practices.

The NBA President, further assured the NFIU of the Association’s desire to collaborate with the Unit, in building the capacity of legal practitioners by educating them on anti-money laundering, investigation of sources of funds, disclosure of origin of illegal funds, etc, in a manner that does not compromise their professional obligations to their clients.

The NBA President thereafter, pledged to set up an Anti-Money Laundering Committee that will come up with a robust Anti-Money Laundering Rules which will govern legal practitioners in their dealings with clients, both corporate and private.

Dr. Rapulu Nduka
Publicity Secretary,
Nigerian Bar Association.

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