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.

GIABA’s Information Manager in Nigeria, Timothy Melaye, told the News Agency of Nigeria on Wednesday in Lagos that more countries had complied with the recommendations of the Financial Action Task Force, FATF, in 2018.

READ ALSO: It’s mandatory for Nigeria to assist ECOWAS, says President Buhari

“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.

Mr 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.

GIABA’s 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.

NAN

Source :
StateReporter Newspaper
http://www.statereporters.com/2019/01/31/terrorists-funding-reduced-in-west-africa-in-2018-ecowas/

You mean buhari has stopped funding his brothers last year due to elections.. watch the funding continue if he wins the election.

So what anticorruption initiative in all areas of governance is APC a brainchild of?