As Officials Warn Of Billion Lost To Illicit Flows
Reported by: Prince Saah
Monrovia, Liberia -A major regional offensive against corruption, money laundering, and illicit financial flows has been launched by senior government officials, regional financial crime experts, and international partners. They warn that inadequate public procurement systems throughout West Africa continue to drain billions of dollars from economies already struggling to finance development.
On Monday, June 8, 2026, officials from Liberia, regional organizations, and international partners opened the Regional Workshop for the Strategic Review and Validation of the GIABA Guidebook on Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) in Public Procurement in Monrovia. They cautioned that public procurement systems are becoming more and more vulnerable entry points for financial crimes.
Edwin W. Harris Jr., Director General for the Regional Anti-Money Laundering Institutions, issued a warning at the beginning of the session, stating that procurement processes in West Africa are becoming more and more appealing avenues for organized financial crime. “Public procurement is one of the most vulnerable corridors for illicit financial flows in West Africa,” Harris said.
According to Harris, procurement accounts for roughly 12 percent of GDP across West African countries, creating significant opportunities for criminal exploitation where oversight systems remain weak. “Criminals create shell companies and front entities. They conceal beneficial ownership. They manipulate tender processes, split contracts, inflate invoices and launder illicit proceeds through payment streams that appear legitimate,” Harris warned.
He clarified that far too frequently, the very infrastructure used to construct hospitals, schools, and roads is being used as a weapon to unlawfully enrich a select few. Director Harris disclosed that illicit financial flows cost West Africa an estimated US$50 billion a year, which officials believe surpasses the amount of economic aid that enters the region. “A significant portion of these flows are routed through or facilitated by public procurement systems,” he added.
As discussions opened, Harris insisted that the gathering must produce practical outcomes rather than symbolic commitments. “By the end of this workshop, we must walk away with more than goodwill. We must walk away with a strong regional consensus that opacity in procurement is no longer a safe harbour for money laundering,” he noted.
Augustine Kpehe Ngafua, Finance Minister of Liberia, emphasized that procurement is still essential to efficient public financial management and stated that governments could no longer afford procurement methods that do not safeguard public resources. According to him, “Procurement, if done well, will ensure that the monies we raise actually go towards development intentions. It is unfair for us to spend double on anything. When we do that, we have robbed the people and shortchanged our countries.”
In an effort to improve accountability and transparency, the minister described Liberia’s continuing procurement reforms, including the growth of the nation’s electronic procurement platform. “Yes, transparency is important, but if businesses cannot participate because they are uncomfortable with the system, then competition suffers, emphasizing that smaller Liberian businesses must remain part of procurement opportunities,” he added.
The Finance Minister also commended the organizers for choosing Liberia as the host nation, adding that regional events stimulate the economy and enable local companies to profit from global events.
Dr. Anna Brazozowska, First Counsellor, Team Leader, Political and Economic Governance, European Union, also spoke to the audience and stated that procurement integrity is still crucial for lowering corruption and boosting investment trust throughout Africa. She cautioned that nations can become susceptible without obvious terrorist activities occurring within their borders.
“You do not always need visible terrorist activities in your territory to be endangered. There are countries which serve as back offices to terrorism,” said Madam Brazozowska.
The first counsellor, Team Leader, Political and Economic Governance at the European Union argued that stable and transparent financial systems remain critical for attracting investment and generating jobs.
“To attract investments to Africa, we need stable and transparent rules. Corruption remains one of the reasons investors may be afraid to invest,” she narrated.First Counsellor, Team Leader, Political and Economic Governance at the European Union argued that stable and transparent financial systems remain critical for attracting investment and generating jobs.
“To attract investments to Africa, we need stable and transparent rules. Corruption remains one of the reasons investors may be afraid to invest,” she narrated. While praising Liberia’s political stability, madam Brazozowska encouraged stronger governance reforms to improve investor confidence and predictability.
Over the next few days, participants are anticipated to assess procurement vulnerabilities, bolster institutional referral systems, create common investigative frameworks, and enhance regional cooperation against financial crimes related to procurement.
A new procurement guidebook intended to assist governments in identifying, preventing, and responding to money laundering risks throughout procurement processes is anticipated to be validated by the regional workshop, which brings together participants from 17 countries, including procurement authorities, financial intelligence units, auditors, anti-corruption institutions, and public account bodies.
Stronger vendor screening procedures, advantageous ownership transparency policies, risk-based evaluations, enhanced interagency collaboration, and greater use of technology in procurement supervision are all suggested in the manual. Additionally, the workshop is still ongoing in Monrovia as local specialists strive to create workable measures to secure public resources from fraud, corruption, and international criminal networks.
