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GIABA Supports Nigeria’s Fight Against Money Laundering

Channels Television  
Updated March 21, 2016

Money launderingThe Intergovernmental Action Group Against Money Laundering in West Africa (GIABA) has reaffirmed its commitment to supporting Nigeria in the fight against money laundering and financing of terrorist activities.

The Director of Administration and Finance of GIABA, Mr Babacar Ndiaye, made the declaration at a pre-assessment training workshop for Federal Government officials held in Abuja on Monday.

He advised the Federal Government to have laws that criminalise money laundering and terrorist financing in accordance with relevant international conventions.

He stressed the need for the Federal Government to apply preventive measures for the financial sector and other designated non-financial sectors in order to reduce cases of money laundering and terrorist financing.

GIABA is pledging its support to Nigeria at a period that the current administration is making efforts to recover stolen funds that had been taken out of Nigeria.

President Muhammadu Buhari had pledged his commitment to fighting corruption which he said had affected the development of the oil rich nation.