By Abibatu Dora Kamara, GIABA Media Coordinator
One of ECOWAS’ most respected Units; GIABA is celebrating its 20years of existence with impactful results in the fight against Money Laundering and Counter-Terrorism Financing in the sub-region. Addressing a virtual press conference, GIABA Director General, Justice Kimelabalou Aba, said: “I stand on the threshold of history with pride and humility as I welcome you all to this historical moment, marking the celebration of GIABA’s 20th Anniversary”.
He added that It was a day to celebrate our political leaders who came together to chart the course for countering the problems of financial and organized crimes in order to safeguard, not only the integrity of the financial systems of the region, but also the future of our people.
Justice Kimelabalou Aba recalled that on December 10, 1999, in the city of Lome, Republic of Togo, a significant decision was taken by the Authority of Heads of States and Government of ECOWAS, which was to establish a specialized institution to counter money laundering and its associated ills in the region called Inter-Governmental Action Group against Money Laundering in West Africa (GIABA), adding that a year later, specifically, December 10, 2000, the Authority of Heads of States and Government of ECOWAS formally adopted the Statutes of GIABA.
GIABA, the Director General said, was established as a specialized regional institution to strengthen the capacity of ECOWAS member states to fight Money Laundering and all other financial crimes in line with internationally acceptable standards.
He reiterated that money laundering and terrorism financing continue to threaten peace and security and to undermine sustainable development in the ECOWAS region. Countering these scourges require concerted efforts at all levels – involving national, regional, and international actors.
The Director General maintained that over the years, GIABA has demonstrated significant efforts and commitments, built great partnerships and formidable global networks that have made it possible to deliver very impactful results in line with its mandate.
Highlighting GIABA’s work, he said they have assisted member states to strengthen their legal frameworks consistent with the FATF recommendations; provided member states with technical assistance in order to strengthen their institutional and regulatory frameworks and build capacity to enhance compliance, thereby contributing to good governance; conducted researches and typologies to understand the risks, trends, methods and techniques used by criminals and their associates to launder money and finance terrorism and develop strategies to counter them; organize and conduct mutual evaluation exercises of member states, which is a peer review mechanism meant to assess the compliance and effectiveness of their AML/CFT regimes with regard to international standards; and promoted and enhanced national, regional, and international cooperation and collaboration in order to strengthen stakeholders’ intervention.
GIABA’s former Director General, Dr. Abdullahi Shehu, commended the current DG for his exemplary leadership and also the team for their show of commitment to achieve better results.
Also, the former Deputy Director General of GIABA, Dr. Elizabeth Diaw in her goodwill message saluted all Financial Intelligence Units (FIUs) for carrying out their missions in the fight against Money Laundering.
The Deputy Director General of GIABA, in his remarks said there is a reason for all past and present workers to celebrate the success of the institutions.
