The Director-General, Inter-Governmental Action Group Against Money Laundering in West Africa, (GIABA), Dr Abdulahi Shehu, yesterday said Nigeria is slow in tackling money laundering and terrorism financing.
Speaking at the Committee of Chief Compliance Officers of Banks in Nigeria,( CCCOBIN), Second International Conference on Customer Due Diligence, in Lagos, Shehu said the inability of the country to tackle money laundering and its predicate offences has become a stigma to her.
He said Nigeria is lagging behind in eradicating the menace, despite the huge resources which GIABA has invested on her among other member states. He said only two member states — Ghana and Guinea Bissau — have approved the necessary strategies to combat it.
He explained the essence of the anti-money laundering strategies is to ensure that the actions of member states, on financial transactions are well guided, to allow for effective verification of all processes of checking trans-border crimes
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