President Julius Maada Bio Launches 29th Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA) Ministerial Committee Meeting in Freetown, Calls for Regional Unity and Action – Africa.com
The President of Sierra Leone, His Excellency Julius Maada Bio, officially opened the 29th Ministerial Committee Meeting of the West African Intergovernmental Action Group on Anti-Money Laundering (GIABA) at the New Brookfield Hotel in Freetown. GIABA is a specialized agency of ECOWAS that coordinates efforts to combat money laundering, terrorist financing and proliferation financing (ML/TF/PF) across West Africa.
In his opening speech, Mr. Edwin W. Harris Jr., Director General of GIABA, expressed his gratitude to President Bio for his attendance. He highlighted the release of a regional report that highlights the need for greater efforts to combat financial crime in West Africa.
“While progress has been made, our region must redouble its efforts. This meeting is a call to action, not just talk,” Mr Harris said. He praised GIABA’s training program, which supports six member countries in combating money laundering and terrorist financing. He stressed the need for stronger commitment from member states, stating: “As Director-General, I rebranded and reformed GIABA, raising its status and recognition. Now, we must act decisively to bring our Plans translate into measurable results,” he concluded.
Ms. Elisa de Anda Madrazo, Chair of the Financial Action Task Force (FATF), praised GIABA’s efforts and pledged the organization’s continued support. “Fighting money laundering is a global challenge,” she said. “We are committed to strengthening capacity building, financial inclusion and cooperation across the ECOWAS region to achieve meaningful results.”
She reiterated FATF’s willingness to work closely with GIABA and urged ministers to implement the recommendations of the report under consideration. “Together we can build a strong global collaboration network,” she concluded.
The Minister of Finance, Mr. Sheku Ahmed Fantamadi Bangura, welcomed the delegation and highlighted the political support extended by President Bio to the Financial Intelligence Unit (FIU). He highlighted the legislative progress made by Sierra Leone in combating financial crime and emphasized the importance of collective dialogue to implement the recommendations of global anti-corruption bodies. “Through inter-ministerial cooperation, we can create a safe financial ecosystem and effectively address money laundering and terrorist financing issues,” he said.
In his keynote address, His Excellency President Bio welcomed delegates and reiterated Sierra Leone’s commitment to combating money laundering, terrorist financing and proliferation financing. “We are at a critical moment in our collective fight against transnational financial crime,” he said, stressing the importance of translating technical advice into actionable national and regional strategies.
President Bio outlined Sierra Leone’s progress in aligning national AML/CFT laws with international standards, strengthening capacity building and promoting regional cooperation. He highlighted continued investment in training, technology and intelligence sharing to strengthen agencies tasked with combating financial crime.
“Our approach must adapt to emerging threats, such as the misuse of new technologies for illicit purposes,” he noted. “Joint investigations and coordinated law enforcement operations are critical to dismantling transnational criminal networks.”
The President noted Sierra Leone’s achievements, including global recognition of its high anti-money laundering/combating the financing of terrorism standards by the United Nations and the Financial Action Task Force. He also highlighted Sierra Leone’s leadership role during its tenure on the United Nations Security Council, where the country championed initiatives to combat illicit financial flows.
The president concluded his address by calling for a renewed commitment to resource allocation, strategic planning and accountability. “GIABA’s success is closely linked to the political will of each member state. Regional cooperation and intelligence sharing are indispensable to achieve our goals,” he asserted. He urged delegates to leave the meeting with a renewed sense of purpose and a strong plan of action. “Let us not lose sight of the mutual benefits of efforts to strengthen regional security, achieve sustainable economic development and promote global stability,” he concluded.
Distributed by APO Group on behalf of the Parliament of Sierra Leone.
