By Temitope Ponle
Abuja – The Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) has called on member countries of ECOWAS to ratify protocols relating to money laundering and financing of terrorism.
Col. Adama Coulibaly, Director-General, GIABA, made the call while delivering his address at a ceremony to mark the 2016/2017 Legal Year of the ECOWAS Community Court of Justice in Abuja on Friday.
Coulibaly was represented by Mr Buno Nduka, Director, Programmes and Project, GIABA,
The GIABA boss expressed concern that money laundering and terrorist financing would not be controlled in the sub-region without the non-ratification of necessary legal texts.
“GIABA is concerned about the fact that almost 15 years after the adoption of the ECOWAS Protocol for the Prevention of Corruption, the protocol has not yet entered into force due to lack of ratification.
“Under Article 22 of this protocol, it is supposed to enter into force upon the ratification by at least nine signatory states, in accordance with their respective constitutional procedures.
“So far, only eight member states have ratified the protocol.
“The entry into force and effective implementation of the protocol and other relevant instruments will enable ECOWAS member states control money laundering and terrorist financing.
“It will also serve as a signal of our commitment to taken ownership of such efforts and be each other’s keepers,” he said.
Coulibaly also called on the Community Court of Justice to encourage member states to ratify and effectively implement the protocol and regional instruments relating to money laundering and terrorist financing.
He emphasised that the control of such criminal acts in West Africa required the maintenance of the rule of law and the respect for the independence of the judiciary.
“These may be achieved through the appointment of judicial officers on the basis of merit, absence of political interference in the exercise of judicial functions and security of tenure of office of judges.”
He urged member states to enhance modalities to recover stolen assets by putting in place measures to confiscate the proceeds of crime and prevent returned assets from “leaving the country back to western banks”
He further called on member states to establish, where needed, and strengthen special courts to facilitate the effective adjudication and management of cases on economic and financial crime.
He called on the ECOWAS Court to enhance its partnership with GIABA to sensitise the judiciary in the sub-region.
He also stressed that the court had a role in protecting the international financial system from the menace of money laundering and terrorist financing and ensuring economic development, peace and security in West Africa.
In his address, Justice Jerome Traore, President of the ECOWAS Court assured that the court would offer the needed assistance to member states in preventing and containing money laundering and terrorism financing.
Traore said: “the court thus means to offer in resolute terms, the needed assistance to ECOWAS and member states.
“The court will do so within the confines of the powers currently conferred upon it, by particularly ensuring, that the rules and procedures in force, are in all respects, in consonance with the observance of human rights and guarantee of the rule of law.”
He said the court would strengthen its relationship with domestic courts of member states to enhance synergy among them.
The theme for the year is: “The Contributions of the ECOWAS Court of Justice in the Fight against Terrorist Financing and Money Laundering within the West African sub-region: the perspective of GIABA”.
