The Inter-Governmental Action Group against Money Laundering in West Africa (GIABA), a specialized institution of the Economic Community of West African States (ECOWAS), is set to host a three-day anti-money laundering workshop in Lagos.
GIABA is also the Financial Action Task Force-Styled Regional Body (FSRB) responsible for combating the scourge of Money Laundering (ML) and Terrorist Financing (TF) in West Africa.
The regional sensitisation workshop for Civil Society Organizations (CSOs) in West Africa on anti-money laundering and counter-financing of terrorism requirements is billed from August 24 to 26 at Best Western Hotel, Lagos.
The summit is aimed at raising awareness against the deleterious effects of money laundering and terrorist financing in the region.
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GIABA was established in 2000 by the authority of heads of state and government of ECOWAS.
The body has since lived up to its mandate of protecting the national economies and the financial systems of member states from abuse and the laundering of the proceeds of crimes.
Speaking to the Association of Certified Anti-Money Laundering Specialists (ACAMS) in Abuja on Wednesday, Nuhu Ribadu, former chairman of the Economic and Financial Crimes Commission (EFCC) said Nigeria had not reached its full potentials due to money laundering.
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“Everything wrong about Nigeria came from money laundering,” he said.
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