At the just-concluded Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) Plenary and the GIABA Ministerial Committee (GMC) session in Abidjan, the Honourable Minister of Finance of the Republic of Sierra Leone, Sheku Ahmed Fantamadi Bangura, delivered a stark warning on the evolving security threats confronting the West African sub-region, calling for stronger regional cooperation and coordinated financial security measures among Economic Community of West African States (ECOWAS) member states.
Mr Bangura stated that West Africa is currently navigating an incredibly complex security landscape marked by unprecedented interlocking threats that respect no sovereign borders.
The remarks underscored growing concerns across the sub-region over the expansion of terrorist activities, maritime insecurity in the Gulf of Guinea, and the rapid rise of transnational cybercrime networks.
According to the Hon. Minister, these threats are no longer isolated national challenges but shared regional crises capable of undermining economic growth, investor confidence, democratic governance, and long-term stability across ECOWAS countries. He emphasised that terrorism financing, piracy, illicit financial flows, and cyber-enabled fraud have become increasingly interconnected, requiring a unified regional response backed by robust intelligence-sharing and stronger financial oversight mechanisms.
The statement comes at a critical time for West Africa, as several countries continue to battle violent extremism and organised criminal networks operating across porous borders. Maritime piracy in the Gulf of Guinea remains a significant threat to international shipping and regional trade, while cybercrime syndicates have increasingly targeted financial institutions, government systems, and private businesses throughout the sub-region.
Addressing delegates at the GIABA Plenary, the Minister stressed the importance of strengthening anti-money laundering and counter-terrorism financing frameworks to prevent criminal organisations from exploiting weaknesses in regional financial systems. He noted that sustainable peace and macroeconomic stability can only be achieved through deeper collaboration among governments, financial regulators, security institutions, and international partners.
The Hon. Minister further called on ECOWAS member states to invest in modern security infrastructure, digital resilience, and coordinated maritime surveillance systems. He also urged countries within the bloc to harmonise legal and regulatory frameworks to combat cybercrime and illicit financial activities.
Observers at the meeting described the remarks as a strong appeal for collective regional action amid mounting security pressures facing West Africa. Analysts say the warning reflects increasing recognition among policymakers that economic development and regional security are deeply interconnected.
The GIABA Plenary was held in Abidjan with discussions focused on anti-money laundering strategies, counter-terrorism financing measures, financial intelligence cooperation, and regional approaches to emerging security threats across West Africa.
Credit – MOF Communications
Copyright –Published in Expo Times News on Monday, 1st June 2026 (ExpoTimes News – Expo Media Group (expomediasl.com)
