Professor Naana Jane Opoku-Agyemang, the vice president, has urged greater collaboration and inclusivity throughout West Africa in order to address the escalating risks of weapons proliferation, money laundering, and terrorism financing.
Prof. Opoku-Agyemang commended the Intergovernmental Action Group Against Money Laundering in West Africa (GIABA) for its undercover work to protect the region’s financial institutions during his remarks during the 2nd Extraordinary GIABA Ministerial Meeting in Accra. In light of the current political upheavals in some ECOWAS member states, she underlined the significance of fortifying regional security frameworks.
“The illicit flows of money and related crimes often thrive where coordination is weak and institutional presence is fragmented,” the Vice President said. “Our responsibility is to ensure that our regional architecture for combating Money Laundering and the Financing of Terrorism and Weapons remains robust, inclusive, and forward-looking.”
Prof. Opoku-Agyemang also addressed recent tensions involving the status of the Alliance of Sahel States (ASS) within GIABA, encouraging continued dialogue and unity. “These are not simple questions, but they are clearly worth tackling in the spirit of regional unity and resilience,” she noted, urging prudence and principled engagement.
Representatives from the Bank of Ghana, the Securities and Exchange Commission, the Ghana Police Service, and other national and regional institutions attended the high-level meeting held at The Palms by Eagles in Accra.
“As leaders and stakeholders, our shared challenges require shared solutions,” the Vice President said. “Let this meeting serve not only as a forum for policy, but also as a platform for a partnership that will lead to a more united and resilient West Africa.”
She wished the delegates from all over the ECOWAS area a fruitful and enlightening stay in Ghana and offered them her warm welcome.
A change in the institution’s leadership was also announced at the meeting.
The Federal Republic of Nigeria’s outgoing chairman, Lateef Fagbemi, commended the GIABA Ministerial Committee for its commitment and strategic direction while he was in office. He thanked him for the chance to serve and wished his successor, Sierra Leone’s Minister of Finance and Budget, Sheku Bangura, all the best.
The newly appointed Chairman of the GIABA Ministerial Committee, Sheku Bangura, reaffirmed his commitment to fostering regional collaboration in the fight against financial crimes. Mr. Bangura, made this pledge following his assumption of the leadership role within the West African anti-money laundering body.
“As I assume this role as the chairman of GIABA, I pledge my commitment to working with you all to advance GIABA’s vision, and GNC as the supreme decision body under its statutes,” he said. “In this capacity, I am honoured to guide my colleagues from member states in steering deliberation towards consensus-driven decisions that strengthen our collective fight against illicit financial crimes.”
As nations attempt to adjust to complicated governance challenges and changing security concerns, the gathering takes place at a pivotal juncture for the region. Coordination of the regional response to financial crime is a major function of GIABA, an ECOWAS specialized organization.