NBA Issues Compliance Directive To Banks On Lawyers’ Minimum Fees Under Legal Practitioners’ Remuneration Order 2023

The Nigerian Bar Association (NBA) has issued a formal directive to financial institutions and relevant stakeholders mandating compliance with the Legal Practitioners’ Remuneration Order 2023. This directive aims to ensure adherence to the prescribed minimum fees for legal services and prevent the underpricing of legal work.

The NBA Remuneration Committee, chaired by Chief Emeka Obegolu, PhD., SAN, emphasized that the Remuneration Order, which took effect on May 16, 2023, was signed by the Attorney General of the Federation and Minister for Justice under the authority of the Legal Practitioners Act (Cap L11, LFN 2004). The Order establishes a standardized framework for professional fees chargeable by legal practitioners for services such as property transactions, advisory services, and other legal engagements.

The NBA highlighted the necessity for banks and financial institutions to recognize and enforce the prescribed remuneration structure in all legal dealings, particularly in transactions requiring legal documentation, land transactions, corporate services, and advisory engagements. The directive urges these institutions to ensure that any lawyer engaged in such legal services strictly adheres to the provisions of the Remuneration Order.

To reinforce compliance, the NBA pointed to key provisions of the Order, including:

• Article 1(2): “A legal practitioner shall not accept fees lower than the prescribed minimum remuneration for any service rendered under this Order.”
• Article 8(1): “A legal practitioner engaged in property transactions, advisory services, or other professional work must ensure that fees charged comply with the provisions of this Order.”

The NBA stressed that any violation of the Remuneration Order would undermine the legal profession and attract regulatory action.

The Association is committed to ensuring continuous professional development and adherence to legal regulations to uphold the integrity of the profession.

Stakeholders are urged to take immediate steps to integrate the provisions of the Order into their operational frameworks. The NBA also provided contact details for further clarifications regarding the directive.

For inquiries, stakeholders can reach out to the NBA Remuneration Committee at nbaremunerationc@nigerianbar.org.ng or contact Rachael Princewill at 0817 815 6933.

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