The Economic Community of West African States (ECOWAS) specialized agency, the Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA), has issued a warning that the region’s excessive reliance on cash transactions is encouraging human trafficking, money laundering, and other transnational organized crimes. Speaking at the Joint GIABA–EGDC Regional Forum on Women and Transnational Organized Crimes in Lagos, Dr. Jeffrey Isima, Acting Director of Policy and Research at GIABA, stated that it is challenging for law enforcement to track down illicit financial flows because financial systems in West Africa are primarily informal.Representatives from the Nigerian Financial Intelligence Unit (NFIU) and the National Agency for Prohibition of Traffic in Persons (NAPTIP) were present at the forum, which drew participants from all of the member states. Hajia Imaan Sulaiman-Ibrahim, Nigeria’s Minister of Women Affairs and Social Development, gave the opening remarks. It was organized because human trafficking is widespread and, according to GIABA, “evolving, and devastating.” According to Isima, who spoke on behalf of Mr. Edwin Harris, Director-General of GIABA, “it is a crime that undermines development, erodes human rights, fuels illicit economies, and threatens regional stability.” Isima voiced worries in an interview with reporters following the opening ceremony about the majority of transactions in the sub-region still being done in cash, especially for significant purchases that should typically go through official banking channels.
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