Money laundering has reduced in West Africa, says GIABA – Newstrends
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Money laundering has reduced in West Africa, says GIABA

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Money laundering has reduced in West Africa, says GIABA

Timothy Melaye, Ag. Head of Communication and Advocacy, Intergovernmental Action Group against Money Laundering, GIABA, says money laundering in West Africa has reduced.

Mr Melaye, who also is the Head of the Nigerian Office, GIABA, made this known in an interview with the News Agency of Nigeria on Tuesday in Cotonou, Benin.

He said that with the creation of awareness on money laundering and terrorism financing, more people were now conversant with the crime.

”Cumulatively, we will say that there is a lot of reduction, based on the reports that we are receiving from member countries.

”Today, because of the level of awareness and engagement, if you want to buy a house and your salary does not correspond, then the person who is selling the house, has the responsibility, as a real estate agent, to file a report.

”Also, the bank has the responsibility to file suspicious transaction reports, and that report will commit the law enforcement to investigate.

”So because of all these measures, we have seen a drastic reduction in money laundering and terrorism financing activities,” he said.

He noted that GIABA was however discovering the new ways the criminals were operating with a view to creating new measures to combat the risks.

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”Now GIABA has put measures in the airports, in the seaport, in all exits, to show that when you are going out of the country with currencies, you have to declare the currencies.

”They (criminals) are creating new ways and GIABA is also creating new measures, but overall, because of the level of awareness, level of engagement, and level of deterrence of activities going on.

”So we are now observing reduction in one way or the other,” he added.

Melaye also said that GIABA was committed to carrying out several researches to inform the different law enforcement agencies of its activities.

“GIABA is committed to, and is carrying out several restored researches. We now have typologies which we call research and those researches come with findings, and those findings create knowledge.

”This knowledge is what the group shares with all law enforcement agencies so they have an understanding of different ways through which these activities are carried out.

”The first foundation is for GIABA to create awareness, carry out researches, identify the trends, and share this knowledge with all countries, so that the law enforcement agencies can know.” he explained.

Money laundering has reduced in West Africa, says GIABA
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Focus on welfare of Nigerians, Osinbajo tells Tinubu

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Former Vice President Yemi Osinbajo

Focus on welfare of Nigerians, Osinbajo tells Tinubu

Former Vice President Yemi Osinbajo has urged President Bola Ahmed Tinubu to focus on improving Nigerians’ welfare as the country grapples with significant economic challenges.

Speaking at the 2024 Women in Management, Business, and Public Service (WIMBIZ) conference, Osinbajo highlighted the urgent need for social welfare programmes and accessible healthcare as Nigerians struggle with rising costs in essentials like food, transportation, and housing.

“The cost of living is overwhelming Nigerians’ hope for survival,” Osinbajo remarked. He emphasised the growing issue of food insecurity, particularly affecting children, and called for stronger support systems to ensure basic needs are met.

Addressing the country’s literacy challenges, especially in the northern region, Osinbajo noted that over 67% of women in northern Nigeria are illiterate.

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“A country where half the population is socially and economically disempowered due to illiteracy will find development difficult, if not impossible,” he said.

To tackle this, he stressed the need for large-scale social interventions that address systemic issues, including literacy and economic empowerment.

Reflecting on the theme of the conference, “Dream, Dare, Do,” Osinbajo praised WIMBIZ for exemplifying resilience in pursuing impactful change.

“It’s not just about having dreams or starting enterprises—it’s about resilience and the courage to persevere through challenges,” he said.

 

Focus on welfare of Nigerians, Osinbajo tells Tinubu

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Obaseki: I’m not afraid of EFCC coming for me next week

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Obaseki: I’m not afraid of EFCC coming for me next week 

 

Edo State Governor, Mr Godwin Obaseki, said he had received information that he would be picked up by the Economic and Financial Crimes Commission (EFCC) next week at the end of his tenure.

The governor, however said he was not afraid of any arrest as well as investigation of his administration over  petitions written against him by those he termed as “cruel and wicked” people only interested in hurting him.

Obaseki spoke in Abuja on Thursday, during the EdoBEST National Results-Sharing Session.

Obaseki, who has served as Edo governor since 2016, said he would spend his time in EFCC custody doing some research.

He said he has left a legacy in the state.

The governor said, “I hear that the EFCC will pick me next week after my tenure. Wherever they keep me, I’ll spend time doing research.

“There are many things we have done that can be described as legacy projects. I believe in Edo State.

“One of the things that will last for a very long time to come is the fact that we were able to focus on Edo people and the things that matter to them, reform and implement those things.

“Why should I have fears? I just focused on what I believe in and today, you can see what has been achieved. What happens after that is not up to me.

“They can continue with their political witchhunt and do all they can to hurt me; that’s their problem.

“I’m not afraid, I’m not worried. They have written all sorts of silly petitions against me and that’s part of the challenge. In fact, I can even hand myself over, and if they call me, I don’t have anything to hide.

“You know how this country is; it is all about bitterness; it is all about vendetta, wickedness and people who have opposed to me in Edo State are cruel, very wicked people, very jealous and envious and this is because they cannot show as much as the achievements we have made in the past eight years.

“But what is important is for us to focus on our people in order to make Nigeria better because the suffering is too much.

“We have the advantage and privilege to make things happen. So, we should focus on issues and not on vendetta.

“Reforming the bureaucracy is a priority, we focused on the people and the civil servants.”

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Obasanjo recounts actions Stella took to secure his release from prison 

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Obasanjo recounts actions Stella took to secure his release from prison 

 

Former President Olusegun Obasanjo has recounted the major role his late wife, Stella, played in securing his release from prison.

Obasanjo spoke during the inauguration of the 250-bed Stella Obasanjo Hospital in Benin, Edo State.

Obasanjo was detained under General Sani Abacha’s regime for alleged coup involvement and was released by AbdulSalam Abubakar’s administration after Abacha’s death.

His late wife, Stella Obasanjo from Edo State, championed his release and later became the first lady before passing away during his second term.

The 87-year-old ex-President praised Stella’s commitment, saying, “My late wife went everywhere to ensure that I came out of prison alive. She was in Vatican City, France and other parts of the world. I had it all coming out of prison.” He added, “No amount of honour would be too much for the role she played.”

Obasanjo also expressed his gratitude to the Edo State Government for the honour given to Stella through the hospital.

“I had a woman who made tremendous contributions to my achievements in public life,” he said.

Obasanjo also commended Governor Godwin Obaseki for “starting and finishing well” in office.

He further reminisced on his past work with former Governor John Odigie Oyegun, describing him as an exceptional permanent secretary.

“With this hospital, you’re assured of first-class treatment for any ailment,” he said.

He added, “With this kind of edifice, I can say that the governor started well and is finishing well.”

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