Africa-Press – Liberia. President Boakai assured the plenary that Liberia’s commitment is not driven by external pressure but rooted in national priorities to strengthen governance and protect the integrity of its financial system.
President Joseph Nyuma Boakai on Thursday reaffirmed Liberia’s unwavering commitment to combating money laundering, terrorist financing, and other illicit financial activities as the country hosts the 44th Technical Plenary Meeting of the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA).
Addressing delegates at the Farmington Hotel in Unification Town, President Boakai said Liberia was honored to host the week-long gathering, which brings together regional policymakers, regulators, law enforcement authorities, and international partners to strengthen West Africa’s response to illicit financial flows.
He emphasized that growing threats—including money laundering, terrorist financing, organized crime, and cyber-enabled financial crimes—are becoming more sophisticated, posing significant risks to regional stability, economic development, and public trust.
“These threats undermine both regional and national security, distort financial systems, and erode public confidence,” President Boakai said. “As leaders and practitioners, we have a shared responsibility to confront these challenges head-on.”
Liberia “Fully Committed” to AML/CFT Reforms
President Boakai assured the plenary that Liberia’s commitment is not driven by external pressure but rooted in national priorities to strengthen governance and protect the integrity of its financial system.
He outlined recent legal and institutional reforms, particularly efforts to close longstanding systemic gaps and curb the transportation, sale, and possession of illicit drugs—issues he described as previously widespread.
At the heart of these reforms, he said, is the Financial Intelligence Agency (FIA), which continues to receive increased government support.
“My Administration continues to prioritize support to the FIA to ensure that it has the independence, resources, technology, and operational capacity needed to perform its mandate effectively,” the President said.
Commitments to FATF Standards
Liberia, President Boakai noted, remains a fully engaged member of GIABA and is committed to implementing the Financial Action Task Force (FATF) recommendations. He assured delegates that the government is moving decisively to address deficiencies cited in the country’s Second Round Mutual Evaluation.
Among the key commitments highlighted were full implementation of FATF recommendations, strengthened supervisory systems across all reporting sectors, enhanced Beneficial Ownership transparency, stronger inter-agency coordination through the Inter-Ministerial Committee and Financial Crimes Working Group, effective investigations, prosecutions, and asset recovery and maintenance of a resilient AML/CFT regime aligned with global standards
“We are not merely participants in the GIABA process—we are dedicated partners,” Boakai affirmed.
Regional Collaboration Key
The Liberian leader underscored that criminal networks do not respect national borders, urging member states to deepen cooperation, share intelligence, harmonize legal frameworks, and build joint capacities.
He also called for collective action against emerging threats, including cyber-enabled financial crimes and proliferation financing.
Boakai Commends Outgoing GIABA Director Edwin Harris Jr.
President Boakai used the occasion to recognize Edwin Harris, Jr., a Liberian national completing his tenure with GIABA.
“We are proud of you and wish you well,” he said. “Your experience and expertise will be needed here at home.”
A Call for Continued Unity
As the session opened, President Boakai reminded delegates that regional success depends on shared resolve. “Our unity is our strength. Our commonality of purpose is the guarantor of our survival,” he said.
The President concluded by wishing participants fruitful deliberations and a pleasant stay in Liberia as the plenary continues through the week.
DG Harris Hails West Africa’s Progress
GIABA Director General Edwin W. Harris Jr., in a sweeping assessment of the region’s progress in combating financial crimes, praised member states for significant reforms while urging deeper cooperation and stronger collective action.
Addressing delegates, Harris extended gratitude to President Joseph Nyuma Boakai, the Government, and people of Liberia for what he described as “gracious hospitality” and exceptional arrangements in hosting one of GIABA’s most important annual gatherings.
“Liberia’s generosity and strong commitment to regional cooperation exemplify the true spirit of ECOWAS solidarity,” Harris said, applauding national institutions for their role in hosting the event.
‘A 25-Year Journey of Protecting West Africa’s Financial Integrity’
Mr. Harris used his opening statement to reflect on GIABA’s 25-year journey since its establishment by ECOWAS Heads of State. He highlighted the institution’s sustained efforts in combating money laundering, terrorist financing, corruption, illicit drug trafficking, and other transnational threats that undermine economic stability and peace in the region.
He noted that GIABA has helped shape a regional financial architecture anchored in integrity, strengthened governance, and a commitment to rule of law—critical pillars, he argued, for ending poverty and safeguarding democratic institutions.
“We have come a long way in securing regional peace and stability,” he said. “A financial system built on integrity must not benefit only a selected few while the majority wallow in poverty.”
ECOWAS Envoy Praises AML/CFT Frontliners
Also speaking, ECOWAS Resident Representative to Liberia, Ambassador Josephine Nkrumah, delivered a compelling goodwill message, applauding the dedication of West Africa’s anti–money laundering and counter–terrorist financing (AML/CFT) practitioners and urging deeper regional cooperation to confront illicit financial threats.
Ambassador Nkrumah highlighted the critical, often unseen work carried out by AML/CFT actors—from financial intelligence analysts to law enforcement agencies—whose efforts she said directly contribute to safety, stability, and development across the region.
“You operate at the front lines of a fight that is often unseen but whose consequences touch every home and business across the globe,” Nkrumah emphasized. “Your vigilance and professionalism are the quiet but essential drivers of public trust.”
Liberia’s Resilience Sets the Tone for Regional Dialogue
The ECOWAS Representative praised Liberia’s hospitality and democratic progress, noting that the country’s resilience and institutional commitment provide an appropriate backdrop for high-level discussions on combating money laundering, terrorist financing, and other transnational threats.
Nkrumah said the Plenary’s location in Margibi County symbolized the determination of Liberians to rebuild stronger institutions while remaining active contributors to regional security efforts.
AML/CFT Work Has Direct Impact on Peace
In her message, Ambassador Nkrumah underscored the far-reaching impact of combating illicit financial flows. She emphasized that every suspicious transaction flagged, every risk assessment conducted, and every inter-agency partnership forged contributes to stronger economies, safer communities, reduced corruption, greater investor confidence, improved public services.
“When illicit funds are blocked, criminal networks weaken, corruption slows, and communities thrive,” she noted. “This work fortifies the foundations of sustainable development.”
Call for Action: Strengthen Beneficial Ownership, Digital Monitoring
Nkrumah encouraged delegates to translate discussions into tangible measures that enhance systemic resilience. She urged member states to strengthen risk-based supervisory frameworks, improve transparency in beneficial ownership, leverage digital monitoring and reporting tools and deepen cross-border collaboration.
These steps, she said, are essential to neutralizing increasingly sophisticated criminal networks.
The 44th GIABA Plenary brings together ministers, financial intelligence heads, law enforcement authorities, development partners, and AML/CFT experts from across the ECOWAS region for a series of technical and high-level discussions expected to continue through the week.
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