ECOWAS member states told to join forces to fight money laundering and terrorist financing

DR. SHEHU ABDULAHI, DIRECTOR GENERAL, GIABA

OBED BOAFO
The Economic Community of West African State's Inter-governmental Action Group Against Money Laundering (GIABA) has called on member countries to join forces together to fight the creeping but very damaging menace of predicate crimes such as money laundering and the financing of terrorists activities in the region.

The call was made by the Director General of GIABA Dr. Abdullahi Shehu at a day's Open House forum on Money Laundering and Terrorist-financing in Accra.

The Director General told a gathering of young professionals, media personnel and civil society groups assembled for the workshop that although greater gains have been made in the fight against money laundering, a lot more can be done.

He said if the fight is ever going to be won, there would be the need for member states to collaborate and create an unattractive atmosphere and environment for the main players in this trade.

He however said GIABA would help facilitate the adaption and implementation of necessary tools needed by member states for the fight.

The Minister of Justice and Attorney General Martin Amidu, called on the Ghanaian youth to shy away from practices that have the potential of leading them into activities such as money laundering, adding that the type of youth West Africa raises today, would determine the calibre of its future senior citizenry.

He commended GIABA for their contributions towards the phasing out of the trade in the region and promised the government of Ghana's continued support.

“The kind of senior citizenry we want for West Africa's tomorrow, must be led and shaped by us,” he told the gathering.

Also in attendance at the one-day programme were the Financial Intelligence Centre, Accra and the Ghana Revenue Agencies Board among other stakeholders.

The forum was held under the theme “The Role of the Youth in Combating Money Laundering and Terrorist Financing (ML/TF) in West Africa”.

GIABA has said given the highly successful nature of the deliberations in Accra, they are considering holding similar sessions in other member states.

GIABA is headquartered in Senegal and responsible for the prevention and control of money laundering and terrorist financing in the West African Sub-Region.

It has been mandated by ECOWAS to develop strategies to protect the economies of member states from abuse and the laundering of the proceeds of crime, improve measures, intensify efforts to combat the laundering of proceeds of crime in West Africa and strengthen co-operation amongst its members.

It was founded in 2000 by ECOWAS's Authority of Heads of State and Government.