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ECOWAS urges collaboration in money laundering fight

The Direct Representative of the President of ECOWAS, Amb. BabatundeOlarewaju Ajisomo has told an Intergovernmental Action Group Against Money Laundering or GIABA in Monrovia that winning the fight against money laundering requires collective struggle among member states.

Speaking at the Monrovia City Hall on the 4th day of GIABA’s 27th Plenary on Thursday, 11 May, Mr. Ajisomo said the fight can only be won in the context of more opened and sustained international cooperation.

The event which began here on Monday at the Monrovia City Hall, offers an opportunity for members states to come together to share their experiences with respect to the challenges they are facing in the implementation of the anti- money laundering and counter terrorism financing measures.

The ECOWAS Envoy says “We all are aware” of the effect that money laundering has on the African Continent, noting that if the continent must make progress against such fight, its people must not forget that all efforts are needed on grounds that money laundering remains a threat to the sub-region.

Mr. Ajisomo adds that the sub-region cannot allow money laundering and the financing of terrorism mitigate its collective resolve to make the sub-region an investment destination for potential investors.

He has pledged ECOWAS’ support to the West African region in its quest to fight money laundering. According to Mr. Ajisomo, ECOWAS assures all its regional and international partners of its readiness and commitment to collectively build a region of peace, freedom, good governance and sustainable development for the benefit of its citizens.
The plenary meeting is an assembly of experts, including representatives of GIABA member states, development partners and observers in the fight against money laundering and terrorist financing.

It brings together officials of government and the diplomatic corp. Liberia’s Vice President Amb. Joseph N. Boakai and Central Bank Governor Milton Weeks graced the meeting.
By Lewis S. Teh-Editing by Winston W. Parley

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