By Joseph Momoh, Reporter, Daily Scope
West African governments must deepen cooperation and align financial security measures to counter the region’s growing web of transnational threats, the ECOWAS bloc was told at a high-level meeting in Abidjan.
Speaking at the conclusion of the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) Plenary and the GIABA Ministerial Committee session, the Honourable Minister of Finance of the Republic of Sierra Leone, Sheku Ahmed Fantamadi Bangura, warned that the sub-region faces a shifting security environment where terrorism financing, maritime piracy, and cybercrime increasingly overlap and disregard national borders.
“These are no longer isolated national problems,” Bangura told delegates. “They are shared regional crises that directly threaten economic growth, investor confidence, democratic institutions, and long-term stability across the ECOWAS bloc.”
He pointed to the convergence of illicit financial flows, piracy in the Gulf of Guinea, and cyber-enabled fraud targeting banks, government systems, and private firms as evidence that fragmented responses are no longer sufficient. The minister stressed that effective action requires stronger intelligence-sharing, tighter financial oversight, and coordinated policy across the sub-region.
Bangura urged member states to prioritize investment in modern security infrastructure, digital resilience, and joint maritime surveillance. He also pushed for harmonized legal and regulatory frameworks to close gaps that criminal networks exploit.
The appeal comes as several West African countries contend with persistent violent extremism and organized crime operating across porous borders. Analysts at the meeting noted that the remarks reflect a growing consensus among policymakers that economic stability and regional security are inseparable.
GIABA officials said discussions at the Abidjan plenary centered on anti-money laundering strategies, counter-terrorism financing, financial intelligence collaboration, and coordinated responses to emerging threats across West Africa.
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