President of the ECOWAS court of justice, Justice Edward Asante, made this disclosure while declaring open a regional capacity building workshop for law enforcement agencies on promoting best practices on structure, investigation and techniques of criminal asset seizures, freezing, confiscation, recoveries, management in compliance with United Nations security council resolutions in Abuja.
Answering questions from journalists on the flagrant disobedience of judgments of the ECOWAS court by some member States, Asante stated that flagrant disobedience of judgments of the ECOWAS court by some member States soon come to an end as heads of states have reached a decision to sanction erring members. “Heads of States met and decided that member states should set up focal points in their various countries that would be responsible for the enforcement of the judgment and that has been put in place except that they have not started the regulations.
“We hope that they would start it and there is also sanction for those who do not embark on that, so I think in the very near future that would be carried out so that they would enforce the judgment for the court to have its prestige”.
While commending GIABA for being proactive in the fight against money laundering and terrorism financing in the region, he however called for the immediate revision of the status of GIABA to make it more effective. “the established architecture of GIABA on the 10thof December 1999 by the authority of heads of states and governments of ECOWAS is outdated and woefully inadequate to meet the challenges of today; and much less those of tomorrow, especially with the emergence of multiple complex crimes worldwide.
GIABA’s director general, Kimelabalou Aba that was represented by the director programmes and projects, Buno Nduka, remarked that, “GIABA member states continue to record low number of confiscation of tainted property. This is due to dearth of expertise to identify, trace, seize, freeze and confiscate proceeds of crime”.
He reiterated that the workshop, which is the third, is aimed at building the capacity of participants to use modern techniques to identify, trace, recover and manage assets related to money laundering and associated predicate offences, and the financing of terrorism.
On his part, the director, Nigeria financial intelligence unit (NFIU), Francis Usani, called on member states to put relevant laws in place to checkmate money laundering and terrorism financing, adding that, when criminals are allowed to keep the proceeds of their crime, they become empowered and sophisticated in their operations.He said, “criminal asset confiscation and recoveries become a more critical and important element in the fight against crime, because when you take the benefit of crime from the criminal, the motivation to commit the crime diminishes”.