President Mahama calls for end to money laundering in West Africa

President John Dramani Mahama on Saturday renewed Ghana’s commitment in collaborating with the Inter-Governmental Action Group against Money Laundering in the West African Sub-Region.

He has, however, appealed to member countries to sufficiently equip the law enforcement agencies in their various countries to enable them to act swiftly against the practice in the West African sub-region and beyond.

President Mahama said this when he addressed the 12th Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) Ministerial Committee Meeting in Accra.

The countries in attendance include Ghana, Guinea, Burkina Faso, Togo, Guinea Bissau, Ivory Coast, Nigeria, the Gambia, Sierra Leone, Liberia, Sao Tome and Principe.

The meeting would among other issues create awareness on money laundering and its repercussions on the development agenda of the West African sub region and to institute measures that would stem the practice in the region.

President Mahama said Ghana had made tremendous strides in putting in place the right measures and legislations that had enabled GIABA to repose confidence in Ghana to host the current Ministerial Meeting.

He said the current arrangement in Ghana with the passage of legislations would empower the West African state to fight against money laundering, terrorism and the financing of terrorism that were becoming perennial menace in the world.

President Mahama reiterated government’s commitment to fight against the practice in addition to global crime and tasked other African leaders to remain loyal to the tenets of GIABA and other international bodies that had campaigned against other negative practices that could thwart their development.

The President commended GIABA for its tremendous role in supporting Ghana to put in place measures that had now empowered government to initiate rules and legislations to legitimize their conscious fight against bad economic and governance practices.

Dr Abdullahi Shehu, Director General of GIABA, commended President John Dramani Mahama and Ghana in general for creating a fertile environment for the organization of the meeting in the country.

He also congratulated the government of Ghana for taking a number of measures including the passage of the necessary laws and regulations to stem money laundering in Ghana and the entire African continent.

The Director General indicated that one of the aims of GIABA is to maintain standardized practices that would help African leaders to eliminate money laundering in the continent and to introduce better economic measures that would stir up good financial managements that would enhance development.

Mrs Niale Kaba, Ivorian Minister for Economy and Finance, called on African leaders to first ensure political stability that would pave the way for rapid economic development and to give impetus to their development agenda.

Source: GNA