Ahmed Sheku Fantamadi Bangura, Sierra Leone’s Minister of Finance, has officially taken over as Chairman of the Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA). This transition occurred on July 19, 2025, at the GIABA Ministerial Meeting’s Extraordinary Session in Accra, Ghana. In his inaugural address, Minister Bangura expressed heartfelt gratitude to his predecessor, Hon. Lateef Olasunkanmi Fagbemi, SAN, who is currently Nigeria’s Minister of Justice and Attorney General. Bangura praised Fagbemi for his outstanding leadership and contributions to the organisation during his tenure.
Minister Bangura, GIABA’s new Chairman, is committed to fostering collaboration among member states to advance the organization’s critical mission of combating money laundering, terrorist financing, and proliferation financing. GIABA, founded in December 2000 as a specialised institution of the Economic Community of West African States (ECOWAS), plays an important role in strengthening its member countries’ capacity to combat these pressing financial crimes.
Bangura emphasised the importance of steering discussions towards consensus-driven decisions that will strengthen the global response to financial crime. His previous experience on the GIABA Ministerial Committee (GMC) has provided him with a thorough understanding of the processes required to achieve meaningful results. He emphasised the progress made in anti-financial crime frameworks throughout the region, as evidenced by the second round of mutual evaluations. However, he acknowledged the challenges posed by an evolving landscape that includes sophisticated cybercrime, illicit maritime financial flows, and the recent withdrawal of the Alliance of Sahel States (AES) from ECOWAS.
In light of these challenges, Minister Bangura urged his fellow ministers to prioritise increased regional cooperation. He emphasised the importance of closing gaps in cross-border coordination and forming a united front against illicit financial flows. Furthermore, he advocated for targeted capacity-building initiatives to provide national authorities with the specialised skills and tools they need to combat financial crime effectively. Establishing robust intelligence-sharing mechanisms is also critical for facilitating real-time collaboration among member states.
Bangura outlined a vision for moving away from mere technical compliance and towards demonstrable effectiveness in the fight against financial crime. He emphasised the importance of unwavering political commitment at the highest levels, calling for long-term investment, policy alignment, and strong leadership to turn strategic plans into tangible outcomes.
Minister Bangura’s primary focus as he assumes this critical leadership role will be to strengthen the collective efforts of GIABA member states to protect the region’s financial integrity. His leadership is expected to drive significant progress in the fight against financial crime, resulting in a more secure economic environment for all West African countries.
