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FG partners Switzerland, GIABA against money laundering, terrorism financing


The Federal Government of Nigeria is set to partner with the Government of Switzerland, the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) and Global Counter Terrorism Forum (GCTF), in tackling the scourges of money laundering (ML) and Terrorist Financing (TF) in the West Africa and some of the Maghreb States.

According to a statement by GIABA, the Federal Government and the others will be partnering in the fight against ML/TF by sensitising and raising the awareness of legal, financial and law enforcement officers in West Africa and some Maghreb States on the evils of both crimes.

To this end, GIABA said cooperation among border management agencies and relevant authorities in the combating of ML/TF, Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) responsibilities of non-bank financial institutions, and AML/CFT measures targeting cash-based economies and informal routes for money transfer will be the focus of a 3-day training workshop on AML/CFT next week in Abuja.

The statement noted that the training is expected to enable participants gain practical understanding of the complexities of AML/CFT and the implementation of international AML/CFT standards in order to tackle these threats effectively.


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