MARGIBI COUNTY – President Joseph Nyuma Boakai on Thursday, November 20, 2025, reaffirmed Liberia’s commitment to combating money laundering, terrorist financing, and illicit financial flows as he addressed regional delegates at the opening of the 44th Technical Plenary Meeting of the Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA). The gathering, held at the Farmington Hotel in Margibi County, brought together policymakers, financial intelligence professionals, and international partners seeking to strengthen West Africa’s defenses against financial crimes.
President Boakai warned that the region faces an increasingly sophisticated ecosystem of illicit financial activities, driven by evolving criminal networks. He emphasized that these threats demand collective action and strategic cooperation across borders. “The threats posed by money laundering, terrorist financing, organized crime, and illicit financial flows are more complex than ever,” he said, stressing that such activities “distort our financial systems and slow the development our region strives to achieve.”
The President highlighted Liberia’s recent actions to reinforce its Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) framework. He noted that months of intensified drug-related activities in local communities have further underscored the urgency of strengthening laws, institutions, and enforcement mechanisms. According to him, the government has advanced legislation, improved its regulatory posture, and strengthened collaboration among agencies tasked with monitoring and investigating financial crimes.
Central to these reforms is the Financial Intelligence Agency (FIA), which Boakai described as critical to the country’s ability to detect, deter, and respond to illicit financial threats. He said the government continues to support the FIA to operate with full independence and 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,” President Boakai stated.
He further outlined Liberia’s priority areas, including implementing Financial Action Task Force (FATF) recommendations, addressing gaps flagged during the Mutual Evaluation process, and enhancing supervisory oversight across all reporting sectors. Improving beneficial ownership transparency, he added, remains central to reducing the anonymity that often enables corruption, tax evasion, and transnational organized crime. He also emphasized stronger inter-agency coordination through the Inter-Ministerial Committee and the Financial Crimes Working Group.
President Boakai argued that the effectiveness of Liberia’s reforms depends not only on policy but also on unwavering political resolve. He pledged his administration’s commitment to ensuring that investigations, prosecutions, and asset recovery efforts are carried out fully and without favor. Those who compromise the country’s financial integrity, he said, “must face consequences that send a clear message of accountability.”
Turning to regional cooperation, the Liberian leader warned that criminal networks exploit fragmented regulatory environments and porous borders. He urged West African governments to harmonize frameworks and share intelligence to block criminal syndicates from shifting operations across jurisdictions. “Our response must go beyond national boundaries. Sharing intelligence, aligning our legal frameworks, and building joint capacities are essential,” he stated.
President Boakai also recognized GIABA’s role in promoting financial transparency and accountability across the region. He thanked the organization for selecting Liberia as host of the 44th Plenary and expressed pride in the service of outgoing GIABA Director-General Edwin Williams, a Liberian. Boakai described Williams’ tenure as impactful and a reflection of Liberia’s growing contributions to regional security and governance.
The weeklong GIABA Plenary features technical sessions, reviews of member states’ compliance levels, and high-level discussions with international partners. Delegates will examine strategies for strengthening legal frameworks, enhancing regional intelligence-sharing, and improving enforcement capabilities across West Africa.
