Former Nigerian head of state, General Yakubu Gowon has called on West African leaders to unite as one in combating the sophisticated social vices which is currently on the increase.
Addressing a gathering at the 12th GIABA Ministerial Committee Meeting at La Palm Royal Beach Hotel, General Yakubu Gowon declared that vital social values such as honesty, integrity and good character had been put into tatters due to the spate at which illicit businesses like money laundering had become the other of the day.
In his view, due to the global nature of economic and financial crimes, he believes “no nation can fight the problem alone”. He advocated for the establishment of networks with key allies outside the sub region, if the issue of money laundering is to be tackled thoroughly.
If this precaution is to be rendered futile, General Yakubu Gowon hinted that corruption, internet fraud, human and drug trafficking would continue to thrive. “This will directly make illicit business grow to fuel money laundering and financing of terrorism”, he added.
The meeting brought together representatives from the Economic Community of West African States (ECOWAS) to review the progress made in fighting money laundering and terrorism and adopt more efficient strategies to fight these acts.
GIABA is an institution of ECOWAS responsible for facilitating the adoption and implementation of Anti-Money Laundering (AML) and Counter-Financing of Terrorism (CFT) efforts in West Africa. It is also working with its member states to ensure compliance with international AML/CFT standards.
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