The Intergovernmental Action Group against Money Laundering in West Africa (GIABA) has said there was a need for stiff sanctions to be imposed against corrupt leaders as current efforts not comprehensive in the region.
Mr. Muazu Umaru, Director of Policy & Research, GIABA who spoke on behalf of the Director General of GIABA, Mr. Edwin W. Harris, Jr, made the call at the Opening Ceremony of the Stakeholders Workshop on the Outcome of GIABA’s Typologies Study on Money Laundering and Terrorist Financing risks linked to Corruption in West Africa held in Abuja yesterday.
Umaru said: “This workshop is an engagement that we seek to have with the wider audience of the community-fighting corruption across West Africa, for them to have a deeper dive on the report we produce, a typologist report on Corruption across the region.”
He said the typologist report looked at real corruption cases of different types, using different methods and techniques which will help participants to learn lessons as to how criminals were able to evade detection, such that they can incubate into policies, procedures and programs.
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He said: ‘It is very clear that despite all efforts, the fight against corruption is still low and not comprehensive. By comprehensive, we mean that we are not engaging all the relevant stakeholders, starting from civil society to the relevant departments of government as well as other stakeholders in the private sector to mobilise, to be able to effectively counter corruption. So, these are some of the issues that we want to discuss and see what new approaches we can then imbibe.
“We must rethink public service with corruption in mind. The process design of public service has got to pass through the prism of corruption opportunities for every system. You should ask yourself, what are the corruption opportunities here? From appointments to procurements to the management of assets. Everything else you have to think of is corruption.
Also speaking at the event, the Acting Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Abdulkarim Chukkol, while commending GIABA, said it was unfortunate that Nigeria was placed on the grey-list of the Financial Action Task Force, owing to the unaddressed vulnerabilities in its anti-money laundering framework.
“I need not overemphasize the fact that Nigeria’s presence on the grey list represents a huge setback in our Nation’s efforts at tackling issues bordering on money laundering and the fight against corruption.
“But I am encouraged by our resolve to consider the grey list as a challenge for greater commitment to reform the Nation’s Anti-Money Laundering and Counter Financing of Terrorism framework with a view to not only exiting the Financial Action Task Force’s grey list within the shortest time possible but ensuring sustainable anti-money laundering activities in Nigeria.
