Ghana’s Vice President Urges Regional Unity at GIABA Summit to Combat Money Laundering and Terrorism Financing

By Samuel Asamoah

Ghana’s Vice President, H.E. Prof. Jane Naana Opoku-Agyemang, has called on leaders across the ECOWAS region to strengthen unity and regional coordination in the fight against money laundering, terrorism financing, and illicit financial flows. She delivered the charge at the opening of the 2nd Extraordinary Ministerial Meeting of the Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA), currently underway in Accra.

The Vice President described the meeting as a crucial turning point for West Africa as member states confront rising threats from organized crime, cyber-enabled fraud, and financial corruption.

“I welcome you all to Ghana on behalf of President John Dramani Mahama,” she stated. “Your work, often behind the scenes, is critical to protecting our financial systems, regional peace, and sustainable development.”

She emphasized that political transitions, weak institutional coordination, and gaps in governance continue to enable cross-border financial crimes. Stressing the urgency of cooperation, she noted that illicit financial flows (IFFs) thrive in fragmented environments and pose long-term risks to economic growth and security.

Addressing concerns about the withdrawal of Burkina Faso, Mali, and Niger from ECOWAS, the Vice President urged inclusive dialogue on their continued participation in GIABA’s anti-financial crime agenda. “Our regional architecture must be robust, inclusive, and adaptable. Every part of West Africa has a role to play in building a secure and prosperous future,” she said.

The meeting, held at the Palms by Eagles Hotel in Accra, brought together ministers of finance and justice, central bank governors, financial intelligence officials, anti-corruption agencies, and international partners to chart a new course for financial integrity and regional resilience.

Sierra Leone Leads GIABA Ministerial Committee with Renewed Resolve

Sierra Leone’s Minister of Finance, Hon. Sheku Fantamadi Bangura, formally assumed the Chairmanship of the GIABA Ministerial Committee during the opening ceremony. In his remarks, he reaffirmed Sierra Leone’s commitment to building stronger cross-border responses to complex financial crimes.

“Our core mission to safeguard member states’ financial systems against money laundering, terrorist financing, and proliferation financing has never been more vital,” he stated.

Hon. Bangura emphasized that GIABA must evolve to meet current threats, including cybercrime, illicit maritime transactions, and geopolitical disruptions stemming from member withdrawals. He called for real-time intelligence sharing, targeted capacity-building, and strong political commitment to shift from policy declarations to results-driven enforcement.

ECOWAS Warns Against Regional Fragmentation Amid Rising Financial Threats

Delivering a message on behalf of ECOWAS Commission President Dr. Omar Alieu Touray, ECOWAS Resident Representative, Ambassador Mohammed Lawan Gana, reinforced the need for strategic focus and unity. He warned that financial crimes transcend borders, fuel terrorism, and erode governance across the region.

“Political divorce must never become social, economic, or security disengagement,” he said, referring to the geopolitical tensions surrounding the Alliance of Sahel States (AES). Ambassador Gana urged member states to maintain cooperation through GIABA to safeguard collective interests under the ECOWAS Vision 2050 framework.

He also noted that GIABA’s work—including mutual evaluations, technical support, and typology studies—has been instrumental in guiding member states toward compliance with Financial Action Task Force (FATF) standards.

A Critical Moment for Regional Financial Security

Established in 2000, GIABA is a specialized ECOWAS institution responsible for facilitating anti-money laundering and counter-terrorist financing (AML/CFT) efforts across West Africa. The extraordinary meeting in Accra comes at a time when global scrutiny of financial systems is intensifying, and West African countries face growing pressure to reform their regulatory and enforcement mechanisms.

Deliberations are expected to address key issues such as the membership status of Burkina Faso, Mali, and Niger, the effectiveness of national AML/CFT measures, and a new regional roadmap for combating illicit financial activities.

As the summit continues, participants are hopeful that the shared vision of a secure, integrated, and prosperous West Africa can be realized through collective action, institutional reform, and sustained political commitment.