The Economic Community of West African States (ECOWAS) has approved the admission of Burkina Faso, Mali and Niger as non-ECOWAS members of the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA).
The decision was taken at the 68th Ordinary Session of the ECOWAS Authority of Heads of State and Government held in Abuja, following applications submitted by the three countries to join the regional anti-money laundering body.
ECOWAS said the approval was based on the strong political commitment demonstrated by Burkina Faso, Mali and Niger to fully implement the obligations required of GIABA members. This includes addressing identified gaps in their frameworks for combating money laundering, terrorist financing and the financing of the proliferation of weapons of mass destruction.
The Authority noted that the three countries have pledged to cooperate fully with GIABA and comply with all provisions of the GIABA Statute, particularly those aimed at strengthening regional and international efforts to combat financial crimes.
GIABA is a specialised ECOWAS institution mandated to prevent and combat money laundering, terrorist financing and proliferation financing in West Africa.
ECOWAS leaders said the admission of Burkina Faso, Mali and Niger as non-ECOWAS members of GIABA is expected to enhance regional cooperation against illicit financial flows and strengthen collective security efforts across West Africa and the wider Sahel region.