Money laundering: Nigeria tops GIABA’s evaluation report list – Vanguard
November 11, 2009 by Bunmi Awolusi
Director-General of the Inter-governmental Action Group Against Money Laundering and Terrorist Financing in West Africa (GIABA), Dr Abdullahi Shehu, yesterday in Abuja disclosed that Nigeria came top on the list of countries that has failed to comply with anti-money laundering standards as set out by the Economic Community of West African States (ECOWAS).
Shehu who stated this at the anti-corruption and Financial Crimes Summit that ended in Abuja yesterday, further said among 12 West African countries that were subjected to a mutual evaluation programme by GIABA, Nigeria was found wanting in the area of terrorist financing in Africa.
GIABA is a specialised agency under ECOWAS that monitors cases of money laundering and terrorist financing among member states as well as deals with predicate offences like fraud, corruption, drug trafficking and other economically motivated crimes.
