Tuesday, July 5, 2011
GIABA trains Nigerian anti-money laundering advocates
The aim of the workshop, held at Nevilla Hotel, Kaduna State, Nigeria, was to build the capacity of media practitioners to better report money laundering and terrorist financing activities on the West African sub-region and beyond.
The 2-day event is designed to acquaint the media personnel about regional initiatives on Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) framework, especially the mandate of GIABA and to improve the network among journalists that would promote proper information dissemination on AML/CFT regimes.
The Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) sponsor of the workshop, noted that transnational organized crimes in particular money laundering and the financing of terrorism pose serious threat to global peace and security thereby undermines sustainable development by eroding social and human capital and threatening social and political stability.
GIABA is a specialised institution of ECOWAS as well as Financial Action Task Force (FATF)–Styled Regional Body established by the Authority of Heads of State and Government of the Economic Community of West African States (ECOWAS) in the year 2000 with the mandate to protect the national economies and financial systems of member States from the laundering of proceeds of crimes.
It is expected that the workshop will lead to increase in the pool of highly trained journalists with in-depth knowledge about financial and economic crimes and improved information sharing and dissemination about money laundering and terrorist financing in the country.