As West Africa Gathers for GIABA Plenary
Margibi County – President Joseph N. Boakai has reaffirmed Liberia’s resolve to clamp down on money laundering, terrorist financing, and other illicit financial activities as he addressed the opening of the 44th Technical Plenary Meeting of the Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA).
Speaking Thursday, November 20, 2025, at the Farmington Hotel in Margibi County, President Boakai welcomed regional leaders, financial intelligence experts, policymakers, and international partners to a weeklong session dedicated to safeguarding West Africa’s financial systems and strengthening regional cooperation.
The Liberian leader said the meeting comes amid increasingly sophisticated financial crimes, warning that these threats undermine national and regional security.
“The dangers posed by money laundering, terrorist financing, organized crime, and illicit financial flows are more complex than ever,” President Boakai stressed. “These challenges distort our financial systems and slow the development our region strives to achieve.”
He highlighted steps his Administration has taken to reinforce Liberia’s Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) framework, including updated legislation, stronger enforcement, improved inter-agency coordination, and a vigorous response to drug-related activities affecting communities.
President Boakai underscored the central role of the Financial Intelligence Agency (FIA) in these reforms, noting that government continues to support the institution to ensure it operates with full independence, adequate resources, and enhanced technical capacity.
“A strong FIA enhances the integrity of Liberia’s financial system and strengthens our standing within the regional and global AML/CFT network,” he said.
The President outlined several priority areas for Liberia’s AML/CFT agenda, implementing FATF recommendations, addressing gaps identified during the Mutual Evaluation process, enhancing supervisory oversight across reporting sectors, emproving beneficial ownership transparency, strengthening inter-agency collaboration through the Inter-Ministerial Committee and Financial Crimes Working Group and ensuring effective investigation, prosecution, and asset recovery in financial crime cases.
Emphasizing the importance of regional solidarity, President Boakai noted that financial criminals operate without regard for borders, urging West African states to intensify intelligence-sharing, harmonize legal frameworks, and build joint capacities.
He also thanked GIABA for selecting Liberia to host the 44th Plenary and praised the contributions of outgoing Director-General Edwin Williams, a Liberian, whose service he described as impactful and a source of national pride.
The 44th GIABA Plenary continues throughout the week with technical sessions, country reviews, and high-level engagements among member states and international partners.
Photo credit: Executive Mansion
