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Stronger Political Resolve to Tackle Money Laundering in West Africa

The Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA) has emphasized that member state leaders are lacking sufficient political commitment to combat money laundering and terrorism funding efficiently within the area.

“Political commitment continues to be the main obstacle,” stated Mr. Edwin W. Harris, Jr., Director General of GIABA, on Tuesday, August 26, as he unveiled GIABA’s 2024 Annual Report during an annual briefing session attended by ECOWAS ambassadors, development allies, and journalists in Dakar.
“The key issue still lies in having sufficient political determination,” remarked Mr. Edwin W. Harris, Jr., head of GIABA, on Tuesday, August 26, during his presentation of GIABA’s 2024 Annual Report at the organization’s Annual Briefing Meeting with ECOWAS diplomats, funding agencies, and the press in Dakar.
“A significant hurdle persists: lack of political resolve,” noted Mr. Edwin W. Harris, Jr., Executive Director of GIABA, on Tuesday, August 26, while delivering GIABA’s 2024 Annual Report at the Annual Briefing Event for ECOWAS representatives, partner organizations, and the news media in Dakar.

The activities of money laundering and terrorist funding have been causing instability in West Africa’s economic systems and presenting significant risks to peace and stability within the area.

These threats have been manipulating market dynamics, weakening banking structures, and promoting extreme violent activities using illegal money. Inadequate organizational strength, lack of effective global collaboration, and misuse of electronic tools along with unofficial monetary networks worsen these problems, enabling wrongdoers and extremists to function more intricately and through distributed approaches.

However, Harris is advocating for harsher punishments for offenders.

DG Harris pointed out that for the battle against money laundering and terrorist funding to achieve success, there must be greater political determination from regional leaders.

It is essential to go beyond theoretical laws and focus on actual enforcement through prosecution, inquiry, sentencing, and seizure of illicit gains.

He pointed out that removing illegal gains via confiscation is “the most efficient method to combat money laundering and terrorism funding.”

At the official report launch, DG Harris highlighted the organization’s progress in enhancing Anti-Money Laundering and Combating the Funding of Terrorism (AML/CFT) systems throughout the area.

He emphasized GIABA’s dedication to openness, mentioning that this marks the third successive year he has presented the Annual Report since taking up his position.

“Notable advancements have occurred in establishing AML/CFT frameworks throughout the area. Participating nations have achieved considerable development, yet substantial work remains ahead,” Harris said to officials.

Starting from its creation in 2000, GIABA has provided support to member countries in areas such as legislative changes, development of national anti-money laundering and counter-terrorist financing policies, setting up Financial Intelligence Units (FIUs), enhancing cooperation between ministries, and offering education and technical help for strengthening capabilities.

The organization has also conducted significant research into financial offenses, such as investigations on weapons smuggling, funding of insurgent activities, and tax evasion.

Although these initiatives were undertaken, Harris highlighted obstacles and shortcomings identified through GIABA’s second cycle of peer reviews, which involved 17 member nations. Although some advancement was noted in establishing legislative systems, performance remained “extremely low,” indicating inadequate enforcement.

He mentioned that six nations were first placed on the gray list following the assessment, yet some advancements have occurred: Ghana left in 2021, Senegal in 2022, and Mali as of June 2025. Recent on-site inspections took place in Nigeria and Burkina Faso, with expectations that both may be removed from the list during the FATF meeting in October.

Harris called on governments, collaborators, and non-governmental organizations to stay fully involved, saying, “Don’t stay silent. As Martin Luther King Jr. once stated, ‘Ultimately, we will recall not the statements of our opponents, but the silence of our allies.'”

Following the release of the report, Liberia’s representative in Senegal, Ali Syla, commended Harris for her leadership, highlighting the importance of having a Liberian at the helm of an important regional organization combating financial misconduct.

It is a matter of honor for Liberia, and we should offer him the required assistance,” Ambassador Syla stated, noting that Harris is performing “very well.

The representative from Liberia emphasized the importance of more robust financial systems and cooperation among FIUs and central banks to efficiently monitor fund movements, particularly from areas posing significant risks. He commended Liberia’s Financial Intelligence Unit for its collaboration with the Central Bank of Liberia.

Ambassador Syla further highlighted GIABA’s significant initiatives in combating money laundering and terrorist funding, referring to them as “ongoing work” instead of setbacks, pointing to changes implemented in various member nations. He recognized political commitment as the key factor driving advancement, echoing Harris’s push for more effective execution.

In addition to GIABA’s initiatives, Ambassador Syla emphasized actions taken to revitalize Liberia’s Embassy in Senegal following several years without an ambassador. He noted that within half a year, the embassy restored its presence, connected with Senegalese officials, and enhanced bilateral relations.

With GIABA getting ready for its third cycle of peer reviews, the organization has committed to maintaining support for member nations via technical aid, policy creation, and international collaboration.

“Collectively, we have the power to secure our economic systems, ensure the safety of our citizens, and promote harmony and steadiness within the region,” Harris said at the end.
“In unison, we can defend our financial structures, shield our population, and support tranquility and consistency across the area,” Harris ended with.
“Together, we can preserve our economic foundations, look after our communities, and aid in maintaining peace and balance in the surrounding regions,” concluded Harris.

© 2025 Liberian Observer. All rights reserved. Published by AllAfrica Global Media (LFHCK.ID).


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