The Economic Community of West African States (ECOWAS) has approved the admission of Burkina
Faso, Mali and Niger as non-ECOWAS members of the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA).
The decision was taken at the 68th Ordinary Session of the ECOWAS Authority of Heads of State and
Government held in Abuja, following the three countries’ application for membership in the regional anti-money laundering body.
According to the Authority, the admission is based on the strong political commitment demonstrated by Burkina Faso, Mali, and Niger to fully implement the obligations required of GIABA members.
This includes addressing identified gaps in their anti-money laundering, countering the financing of terrorism, and countering proliferation financing frameworks.
ECOWAS leaders said the three countries have also pledged to cooperate fully with GIABA and comply with all obligations outlined under the GIABA Statute, particularly those aimed at strengthening regional and international efforts to combat financial crimes.
GIABA serves as the ECOWAS specialised institution responsible for preventing and combating money laundering, terrorist financing and the financing of proliferation of weapons of mass destruction in West Africa.
The admission of Burkina Faso, Mali and Niger as non-ECOWAS members is expected to strengthen regional collaboration against illicit financial flows and enhance collective security efforts across West Africa and the wider Sahel region.
Source:Lovinghananews.com
