Nigeria to Host 40th Plenary of West Africa’s Anti-Money Laundering Group

The Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) has announced plan to hold its 40th Technical Commission/Plenary and its 27th Ministerial Committee meeting at the State House Conference Centre, Abuja, Nigeria, from the 12th to 18th November 2023.

The GIABA Technical Commission is an assembly of experts, including representatives of member States (MS), development partners and observers in the fight against money laundering (ML) and terrorist financing (TF), who meet twice yearly to share their experiences with respect to the challenges faced in implementing effective Anti-Money Laundering (AML) and Counter Financing of Terrorism (CFT) measures.

Plenary meetings are GIABA Statutory meetings, thus an integral part of efforts to ensure MS’ compliance with AML/CFT Standards and to foster regional peace, security, prosperity and integration in the ECOWAS region.

A key feature during the meetings is the consideration and approval of the follow-up reports of the mutual evaluation of member States’ level of compliance with the FATF 40 Recommendations on AML/CFT.

According to a press statement from GIABA Headquarters in Dakar, Senegal, which was shared by the Nigeria Financial Intelligence Unit (NFIU), the 40th Plenary Meeting will be declared open by Nigeria’s Minister of Justice and Attorney General of the Federation, Mr. Lateef Fagbemi, SAN, who will also deliver the opening address.

Also, during the meetings, the Activity Report of GIABA will be presented by the Director General, Mr. Edwin W. Harris Jnr.

In addition, the Plenary will consider the 2nd Round of Mutual Evaluation Report of Guinea as well as discuss the Follow-Up reports of Mali and Nigeria.

Other reports for consideration and adoption at the Plenary include the Report of the Co-Chairs of the Evaluation and Compliance Group (ECG), and the Report of the Co-Chairs of the Risks, Trends and Monitoring Group (RTMG), Progress Report of GIABA Effectiveness Improvement Program (EIP) Action Plan and a brief on GIABA Technical Assistance Forum.

Also, as part of the statutory meetings, the 27th meeting of the GIABA Ministerial Committee (GMC) will hold on Saturday, November 18, 2023.

The GMC is the policy making organ of GIABA. It comprises the three GIABA line ministers from all member States (Ministries of Finance, Security/Interior and Justice).

The meeting will, among other things, consider and adopt the Director General’s Summary Activity Report and the Report of the 40th GIABA Technical Commission/Plenary.