GIABA workshop on money laundering, terrorist financing begins in Abuja

 A regional workshop on developing effective frameworks and structures to fight against money laundering and terrorist financing through non-profit organizations has begun today in Abuja.

The three-day workshop was organized by the Intergovernmental Action Group against Money Laundering in West Africa  (GIABA).

Fifty participants and experts drawn from the 15 GIABA member countries of ECOWAS are attending the programme.

The theme of the workshop is ‘developing effective frameworks and structures to fight money laundering and terrorist financing through non-profit organizations (NPOs).

In his welcome address, the Director of Nigerian Financial Intelligence Unit and GIABA national correspondent, Mr Francis Usani, reiterated Nigerian commitment in implementation of legislative and regulatory measures to ensure that NPOs are not used for the purpose of financing terrorist activities.

The GIABA director general, Mr Kimelabalou Aba, in his goodwill message, said the event seeks to create a platform for in-depth reflection on best practices, establish a consensus and encourage cooperation and collaboration in order to prevent the abuse of NPOs for terrorist purposes.

He said the workshop  will also sensitize and develop a common understanding among stakeholders, support to build effective and proportionate responses to terrorist financing risks through the NPO sector; identify the legal and regulatory gaps at domestic level in the region; and to enhance cooperation, coordination and commitment at national level between Governments and the NPO.