GIABA Warns: Cash Transactions Fuel Money Laundering in West Africa

The intergovernmental action group GIABA, specializing in combating money laundering, highlighted the risks associated with cash transactions in West Africa, particularly in fueling money laundering and human trafficking. Dr.

Jeffrey Isima of GIABA expressed concerns about the difficulty in tracing illicit financial flows due to the heavy reliance on cash transactions. The event, attended by various stakeholders including Nigeria's NFIU and NAPTIP, emphasized the need to address these challenges to combat financial crimes effectively.