Skip to main content

Terrorists financing reduced in West Africa in 2018 – ECOWAS

The Inter-Governmental Action against Money Laundering and Terrorists Financing in West Africa (GIABA), has observed a reduction in terrorists financing and money laundering activities among member countries of ECOWAS in 2018.

GIABA is an institution of the Economic Community of West African States (ECOWAS) established in 2000 to combat terrorists financing and fight against money laundering across West Africa.

GIABAs Information Manager in Nigeria, Mr Timothy Melaye, told the News Agency of Nigeria (NAN)on Wednesday in Lagos thatmore countries had compliedwith the recommendations of the Financial Action Task Force (FATF) in 2018.

In 2018, GIABA had again demonstrated its commitment to support countries in West Africa in the fight against money laundering and terrorists financing.

ECOWAS member countries did well last year in the fight against money laundering and terrorists financing in their countries.

Many of these countries have enacted laws, and today, these countries have different anti-money laundering regimes that are now becoming stronger and stronger.

Though we are awaiting statistics from these engagements, it is no longer an easy task for people to launder money again due to the systems on ground, he said.

Melaye said that GIABA had in 2018 embarked on advocacy visits to raise awareness and support for national authorities in fighting against money laundering and terrorists financing in their countries.

GIABAs information manager also said that the organisation had also embarked on mutual evaluation of more West African countries, including Senegal, Cape Verde and Burkina Faso.

And in the course of carrying out our mutual evaluation, we have discovered the compliance of few more countries.

We have discovered that the movement of money across different countries is now increasingly becoming difficult because of the systems in place.

We have even discovered that people now keep large sums of money in their homes because of the strong systems being put in place by the different countries of ECOWAS, he said.

The Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) is a specialised institution of the Economic Community of West African States responsible for facilitating the adoption and implementation of Anti-Money Laundering (AML) and Counter-Financing of Terrorism (CFT) in West Africa.

GIABA was established in 2000 and has its headquarters in Dakar, Senegal. It consists of 17 member states.

ridoola.blogspot.com.ng
Labels:

Comments

Post a Comment

Popular posts from this blog

List of America's one-term presidents & why they were not re-elected

U.S. President Joe Biden becomes the most recent entrant in a list of president who served for only one term. U.S. President Joe Biden announced that he would not be seeking re-election for a second term in the November 5, 2024 elections. Biden, in a statement said that he would be focused on completing his remaining term, endorsing his Vice President Kamala Harris as his most preferred nominee for the Democratic Party to take on former President Donald Trump. Joe Biden endorses Kamala Harris as Democrats' candidate after withdrawing from race [X:@JoeBiden] Biden now joins a list of former U.S. Presidents that only served for one term. John Adams (1797-1801) The second president of the United States, John Adams was a Founding Father who faced significant challenges during his presidency, including conflicts with political adversaries and foreign nations. His support for the Alien and Sedition Acts, perceived as a violation of civil liberties, contributed to his unpopulari...
Post a Comment
Read more

Tinubu appoints MKO Abiola's son, Jamiu as SSA on Linguistics & Foreign Matters

President Bola Tinubu has appointed Jamiu Abiola as the Senior Special Assistant to the President on Linguistics and Foreign Matters. The appointee is one of the children of the late Chief Moshood Kolawole Abiola , the winner of the 1993 presidential election annulled by General Ibrahim Babangida . According to a statement by Segun Imohiosen , the Director of Information and Public Relations, Office of the Secretary to the Government of the Federation on Wednesday, November 27, 2024, Jamiu's appointment took effect from November 14, 2024. Imohiosen said the appointment aligns with the provisions of the Certain Political and Judicial Office Holders (Salaries and Allowances, etc) Act 2008, as amended. Until his recent deployment, the appointee served as the Special Assistant to the President of Special Duties in the office of the Vice President. Tinubu tasked Jamiu to work closely with the Federal Ministry of Foreign Affairs and bring his wealth of experience to bear in his new ...
Post a Comment
Read more

EndSARS, Aba women riot & 3 historical protests that shook Nigeria

These protests underscore the resilience and activism of the Nigerian people in their pursuit of justice, equity, and better governance. Ahead of the planned nationwide protest against President Bola Tinubu's administration, lawmakers and other government officials have appealed to Nigerian youths to shun the protest and seek dialogue for resolution. It is believed that the federal government has already stepped up advocacy and appeals to avoid what happened in Kenya a few weeks ago. The planned demonstration slated for Thursday, August 1, further stretches Nigeria's rich history of civil protests driven by various socio-political and economic issues. These protests have significantly influenced the country's trajectory. Here are five historical protests that have left an indelible mark on Nigeria: 1. Aba Women's Riot (1929) Aba Women's Riot (1929) The Aba Women's Riot, also known as the Women's War, was a major anti-colonial revolt by women in sou...
Post a Comment
Read more