Show political commitment in combating money laundering terrorism financing in W/A
Governments in the West African sub region have been urged to show strong political will in combating money laundering and financing of terrorism.
According to the acting Principal Officer in Charge of Communication and Advocacy of Inter Governmental Action Group Against Money Laundering in West Africa (GIABA), Mr Timothy Melaye “world nations must unite and adopt measures to dismantle syndicate engaged in money laundering and terrorist financing”.
He made the call at the just ended three-day training workshop on investigative journalism on Economic and financial crimes in Abuja, Nigeria last Friday.
It was aimed at building a strong alliance with the media in a concerted manner for effective dissemination of Anti Money Laundering/countering the Financing of Terrorism (AML/CFT).
It also sought to interact with the media on Money Laundering and Financial Terrorism.
Organised by GIABA, the training brought together participants from 31journalists from Economic Community of West African States(ECOWAS),thus Ghana, Nigeria, Senegal, the Gambia, Cote D’ivoire,Togo, Liberia, Guniea Bissau and Benin.
Mr Melaye said money laundering was a complex phenomenon with serious repercussion on the political, social and economic development of countries around the world thus facilitates crimes and corruption which affect sustainable development.
He said GIABA,a specilaised institution of ECOWAS was set up in 2000 by the Authority of Heads of States and Government with the mandate to protect the economies of member states against the laundering of the proceeds of crime.
Mr Melaye stressed the need to train stakeholders including journalists to raise awareness to the public the consequence of money laundering and terrorist financing on the socio-economic development of states.
He called for collaboration between member states to address ML/FCT in the sub region.
The urged participants to apply the knowledge acquire to address ML/FCT.
An Associate Professor of Mass Communication at the University of Ibadan, Nigeria, Dr Bisi Olawuyi in his presentation on the topic “Investigating a fictitious case of economic and financial crime” urged journalists not to use their platform for witch haunting but be fair in their reportage and expose wrong doing.
He called on the participants to work as a team, be professional, discipline and develop good research skills.
Dr Oluwuyi stressed the need for collaboration between organisations and the media in its change agenda in addressing ML/CFT.
The Immediate Past Director of Evaluation and Compliance of GIABA, Dr Buno Nduka in a presentation on the topic “Introduction to AML/CTF standards” said effects of ML/TF includes weaken of financial institutions, loss of revenue to government, heightened insecurity, affects negatively on country’s image at international level and increase crimes and corruption.
He said AML/CFT framework would protect the integrity of financial system, promote good governance and deny criminals the
FROM ANITA NYARKO-YIRENKYI, ABUJA
