The results achieved by the 15 ECOWAS member states in the fight against money laundering are lackluster, revealed Edwin Harris, director general of the Intergovernmental Action Group against Money Laundering in West Africa (GIABA).

” As we complete the second cycle of mutual evaluations in November 2024, the results achieved by the 15 ECOWAS member states reflect a poor image of our region and highlight the need for all of us to redouble our efforts and work harder in order to change the reality of things, “he said, during the 28-th & Final meeting of the GIABA ministerial committee. “Most of our Member States evaluated to date have obtained poor results in the aspects relating to the effectiveness of their mutual evaluation”, reported the official.

Among evaluation bodies, Harris continued, “GIABA recorded 138 low efficiency ratings, while five of our countries received low efficiency ratings in all 11 immediate outcomes.”

He believes that “it is time for the members of the Interministerial Committee to take the initiative to ensure the effectiveness of our legal frameworks and legislation on combating money laundering, terrorist financing and proliferation, which will enhance the level of effectiveness in preparation for the next cycle.”

The 28th meeting of the ministerial committee takes place after the 41st meeting of the GIABA Technical Plenary Commission. After the technical body considered certain questions and made suggestions, the ministerial committee met in Pointe Sarène (Mbour, West) to validate these suggestions and ensure the existence of ways to improve the situation, explained Prince Lateef Fagbemi, President of the 28th GIABA Ministerial Committee, President of the 28th GIABA Ministerial Committee, who is also Attorney General and Minister of Justice of the Republic of France. Nigerian wheat.