West Africa: Boakai Urges West Africa to Unite Against Illicit Finance At Giaba 44th Plenary

LOWER MARGIBI — President Joseph Nyuma Boakai on Thursday called for a united West African front against money laundering, terrorist financing, and the rapidly evolving network of illicit financial crimes, warning that fragmented national responses cannot counter criminal networks operating across borders.

Delivering the opening address at the 44th GIABA Technical Plenary at the Farmington Hotel, Boakai told hundreds of regional delegates that West Africa’s financial systems are under increasing pressure from cyber-enabled threats, proliferation financing, and other sophisticated schemes that threaten security and development.

“The criminals who threaten our financial systems do not respect borders. Our cooperation must therefore transcend national boundaries,” Boakai said. “We are not merely participants in the GIABA process — we are dedicated partners.”

He said Liberia has made “significant strides” in reforming its anti-money laundering and counter-terrorist financing framework, aligning its laws and institutions with international standards and strengthening coordination among law enforcement agencies.

Focus on Strengthening the Financial Intelligence Agency

Boakai described the Financial Intelligence Agency as the “cornerstone” of Liberia’s AML/CFT efforts and pledged ongoing support to ensure its independence, operational capacity, and technological readiness.

“My administration continues to prioritize support to the FIA so it can effectively gather intelligence, support investigations and enforce compliance,” he said.

He reaffirmed Liberia’s dedication to implementing FATF recommendations, increasing transparency in beneficial ownership, improving supervisory systems, and strengthening asset recovery mechanisms.

GIABA Praises Member States

GIABA Director General Edwin W. Harris stated that the region has made “considerable progress,” noting that all member countries except Côte d’Ivoire are now off the FATF Grey List. He credited political will, technical support, and ongoing reforms throughout the bloc.

“The recovery of stolen assets should remain at the core of our fight. Denying access to the proceeds of crime is one of the surest ways to take the profit out of crime,” Harris said.

Liberia Honored to Host

ARMFA President Essaie Moussa Aubin and ECOWAS Permanent Representative Josephine Nkrumah praised Liberia for hosting the plenary, emphasizing the importance of coordinated regional intelligence, strong domestic legal frameworks and investment in technology.

Nkrumah said the work of financial intelligence units “saves lives and economies,” adding that every suspicious activity report and every risk assessment directly strengthens public trust and regional security.

Justice Minister Issues Warning

Justice Minister Cllr. Oswald N. Tweh warned that illicit finance erodes national security, distorts markets and siphons resources away from public needs. He urged member states to act with unity and urgency.

As the week-long plenary continues, delegates are expected to review mutual evaluation progress, adopt new AML/CFT strategies and renew commitments to intelligence sharing and coordinated enforcement across the ECOWAS subregion.

By Liberian Investigator.