FARMINGTON, Margibi County – President Joseph Nyuma Boakai on Thursday reaffirmed Liberia’s unwavering dedication to combating cash laundering, terrorist financing, and different illicit monetary actions because the nation hosts the forty fourth Technical Plenary Assembly of the Inter-Governmental Motion Group towards Cash Laundering in West Africa (GIABA).
By Gerald C. Koinyeneh, [email protected]
Addressing delegates on the Farmington Lodge in Unification City, President Boakai mentioned Liberia was honored to host the week-long gathering, which brings collectively regional policymakers, regulators, legislation enforcement authorities, and worldwide companions to strengthen West Africa’s response to illicit monetary flows.
He emphasised that rising threats—together with cash laundering, terrorist financing, organized crime, and cyber-enabled monetary crimes—have gotten extra subtle, posing vital dangers to regional stability, financial improvement, and public belief.
“These threats undermine each regional and nationwide safety, distort monetary methods, and erode public confidence,” President Boakai mentioned. “As leaders and practitioners, now we have a shared accountability to confront these challenges head-on.”
Liberia “Absolutely Dedicated” to AML/CFT Reforms
President Boakai assured the plenary that Liberia’s dedication is just not pushed by exterior stress however rooted in nationwide priorities to strengthen governance and defend the integrity of its monetary system.
He outlined latest authorized and institutional reforms, significantly efforts to shut longstanding systemic gaps and curb the transportation, sale, and possession of illicit medicine—points he described as beforehand widespread.
On the coronary heart of those reforms, he mentioned, is the Monetary Intelligence Company (FIA), which continues to obtain elevated authorities assist.
“My Administration continues to prioritize assist to the FIA to make sure that it has the independence, assets, expertise, and operational capability wanted to carry out its mandate successfully,” the President mentioned.
Commitments to FATF Requirements
Liberia, President Boakai famous, stays a completely engaged member of GIABA and is dedicated to implementing the Monetary Motion Process Pressure (FATF) suggestions. He assured delegates that the federal government is shifting decisively to deal with deficiencies cited within the nation’s Second Spherical Mutual Analysis.
Among the many key commitments highlighted had been full implementation of FATF suggestions, strengthened supervisory methods throughout all reporting sectors, enhanced Useful Possession transparency, stronger inter-agency coordination by means of the Inter-Ministerial Committee and Monetary Crimes Working Group, efficient investigations, prosecutions, and asset restoration and upkeep of a resilient AML/CFT regime aligned with world requirements
“We’re not merely individuals within the GIABA course of—we’re devoted companions,” Boakai affirmed.
Regional Collaboration Key
The Liberian chief underscored that prison networks don’t respect nationwide borders, urging member states to deepen cooperation, share intelligence, harmonize authorized frameworks, and construct joint capacities.
He additionally referred to as for collective motion towards rising threats, together with cyber-enabled monetary crimes and proliferation financing.
Boakai Commends Outgoing GIABA Director Edwin Harris Jr.
President Boakai used the event to acknowledge Edwin Harris, Jr., a Liberian nationwide finishing his tenure with GIABA.
“We’re pleased with you and want you properly,” he mentioned. “Your expertise and experience will likely be wanted right here at residence.”
A Name for Continued Unity
Because the session opened, President Boakai reminded delegates that regional success depends upon shared resolve. “Our unity is our energy. Our commonality of goal is the guarantor of our survival,” he mentioned.
The President concluded by wishing individuals fruitful deliberations and a pleasing keep in Liberia because the plenary continues by means of the week.
DG Harris Hails West Africa’s Progress
GIABA Director Basic Edwin W. Harris Jr., in a sweeping evaluation of the area’s progress in combating monetary crimes, praised member states for vital reforms whereas urging deeper cooperation and stronger collective motion.
Addressing delegates, Harris prolonged gratitude to President Joseph Nyuma Boakai, the Authorities, and other people of Liberia for what he described as “gracious hospitality” and distinctive preparations in internet hosting one in every of GIABA’s most essential annual gatherings.
“Liberia’s generosity and robust dedication to regional cooperation exemplify the true spirit of ECOWAS solidarity,” Harris mentioned, applauding nationwide establishments for his or her function in internet hosting the occasion.
‘A 25-12 months Journey of Defending West Africa’s Monetary Integrity’
Mr. Harris used his opening assertion to mirror on GIABA’s 25-year journey since its institution by ECOWAS Heads of State. He highlighted the establishment’s sustained efforts in combating cash laundering, terrorist financing, corruption, illicit drug trafficking, and different transnational threats that undermine financial stability and peace within the area.
He famous that GIABA has helped form a regional monetary structure anchored in integrity, strengthened governance, and a dedication to rule of legislation—vital pillars, he argued, for ending poverty and safeguarding democratic establishments.
“Now we have come a great distance in securing regional peace and stability,” he mentioned. “A monetary system constructed on integrity should not profit solely a specific few whereas the bulk wallow in poverty.”
ECOWAS Envoy Praises AML/CFT Frontliners
Additionally talking, ECOWAS Resident Consultant to Liberia, Ambassador Josephine Nkrumah, delivered a compelling goodwill message, applauding the dedication of West Africa’s anti–cash laundering and counter–terrorist financing (AML/CFT) practitioners and urging deeper regional cooperation to confront illicit monetary threats.
Ambassador Nkrumah highlighted the vital, typically unseen work carried out by AML/CFT actors—from monetary intelligence analysts to legislation enforcement companies—whose efforts she mentioned straight contribute to security, stability, and improvement throughout the area.
“You use on the entrance traces of a struggle that’s typically unseen however whose penalties contact each residence and enterprise throughout the globe,” Nkrumah emphasised. “Your vigilance and professionalism are the quiet however important drivers of public belief.”
Liberia’s Resilience Units the Tone for Regional Dialogue
The ECOWAS Consultant praised Liberia’s hospitality and democratic progress, noting that the nation’s resilience and institutional dedication present an acceptable backdrop for high-level discussions on combating cash laundering, terrorist financing, and different transnational threats.
Nkrumah mentioned the Plenary’s location in Margibi County symbolized the dedication of Liberians to rebuild stronger establishments whereas remaining energetic contributors to regional safety efforts.
AML/CFT Work Has Direct Affect on Peace
In her message, Ambassador Nkrumah underscored the far-reaching influence of combating illicit monetary flows. She emphasised that each suspicious transaction flagged, each danger evaluation carried out, and each inter-agency partnership solid contributes to stronger economies, safer communities, diminished corruption, higher investor confidence, improved public companies.
“When illicit funds are blocked, prison networks weaken, corruption slows, and communities thrive,” she famous. “This work fortifies the foundations of sustainable improvement.”
Name for Motion: Strengthen Useful Possession, Digital Monitoring
Nkrumah inspired delegates to translate discussions into tangible measures that improve systemic resilience. She urged member states to strengthen risk-based supervisory frameworks, enhance transparency in helpful possession, leverage digital monitoring and reporting instruments and deepen cross-border collaboration.
These steps, she mentioned, are important to neutralizing more and more subtle prison networks.
The forty fourth GIABA Plenary brings collectively ministers, monetary intelligence heads, legislation enforcement authorities, improvement companions, and AML/CFT consultants from throughout the ECOWAS area for a sequence of technical and high-level discussions anticipated to proceed by means of the week.
