GIABA collaborates with partners to fight money laundering, terrorism financing

The Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA), in collaboration with the Government of Switzerland and Global Counter Terrorism Forum (GCTF), with the assistance of the Federal Republic of Nigeria, will hold a 3-day training workshop on Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) from December 11 to 13, 2012 in Abuja, Nigeria.

The objectives of the workshop are to sensitize and raise the awareness of legal, financial and law enforcement officers from ECOWAS member states and some Maghreb states  on the fight against the scourges of money laundering (ML) and terrorist financing (TF) in the two regions.

The 3-day training will focus on the cooperation among border management agencies and relevant authorities in the combating of ML/TF, AML/CFT responsibilities of non-bank financial institutions, and AML/CFT measures targeting cash-based economies and informal routes for money transfer.

The training is expected to enable participants gain practical understanding of the complexities of AML/CFT and the implementation of international AML/CFT standards in order to tackle these threats effectively.

Furthermore, the workshop aims at improving the working relationship between Financial Intelligence Units (FIUs), Law Enforcements Agencies, and Financial Institutions towards achieving a robust internal AML/CFT monitoring and networking.

The training will be delivered by technical experts with extensive working experience in the private sector and governmental institutions. A variety of teaching methods will be used, involving presentations, case studies, group work, sharing of ideas and sharing of country experiences.

Dignitaries expected to deliver speeches and addresses at the event include the BCEAO Governor, Mr Koné Tiemoko Meyliet, the Minister of Foreign Affairs of the Federal Republic of Nigeria, Ambassador Olugbenga Ashiru, the Director General of GIABA, Dr Abdullahi Shehu, and the Ambassador of Switzerland to Nigeria, His Excellency Dr Hans-Rudolf Hodel.