GIABA Hosts 7th Inter-Universities Speech Contest In Liberia
GIABA Hosts 7th Inter-Universities Speech Contest In Liberia
MONROVIA, Dec. 5 (LINA) – The Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA) has successfully hosted its 7th Inter-Universities Speech Contest in Monrovia, Liberia.
The event is part of GIABA’s continued efforts to combat money laundering and terrorist financing (ML/TF) across the region.
Students from five English-speaking West African countries—The Gambia, Liberia, Ghana, Sierra Leone, and Nigeria debated under the theme: “The Impact of Money Laundering and Terrorist Financing on Economies and How to Combat Corruption in West Africa.”
Representing GIABA’s Director General Edwin W. Harris, Timothy Melaye, Principal Officer for Communication and Advocacy, highlighted the significant economic damage caused by money laundering in West Africa.
“Money laundering promotes crime, stalls economic growth, and limits job opportunities in ECOWAS member states,” Melaye stated.
He called for collective responsibility and strengthened measures to combat this threat, reaffirming GIABA’s commitment to supporting Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) initiatives.
These initiatives, he noted, include bolstering legal frameworks, developing national strategies, and enhancing the capacity of relevant authorities. “The fight against money laundering is a shared responsibility,” he added, urging cooperation among stakeholders.
Meanwhile, Amos Yollah Boakai, Deputy Director of Liberia’s Financial Intelligence Agency, commended the strides made in implementing AML/CFT frameworks while acknowledging the persistent challenges posed by evolving criminal activities.
Boakai emphasized the role of educational institutions in addressing these issues, encouraging universities to integrate AML/CFT courses into their curricula.
“Universities play a critical role in shaping future leaders and addressing social problems,” he remarked, advocating for greater collaboration between academia and national anti-money laundering agencies.
Echoing these sentiments, S. Yarba Brown, Dean of Students at African Methodist Episcopal University (AMEU), lauded GIABA’s initiative to engage young minds in the fight against financial crimes.
“Educating the younger generation is key to building a corruption-free and stable West Africa,” he said.
The competition took place on Tuesday, December 3, 2024, at the African Methodist Episcopal University (AMEU) on Camp Johnson Road.
The contest featured 15-minute speeches by students, who explored the detrimental effects of money laundering on regional economies and proposed innovative solutions to combat corruption.
Their speeches underscored the need for robust anti-corruption strategies and highlighted the potential of youth-led initiatives in fostering economic stability.
Established in 2000 by ECOWAS, GIABA is tasked with developing and implementing measures to prevent financial crimes across member states.
By promoting cooperation and raising awareness, the organization plays a pivotal role in safeguarding West African economies.
The Inter-Universities Speech Contest exemplifies GIABA’s commitment to engaging young leaders in the fight against money laundering and terrorist financing, fostering a generation prepared to tackle financial crimes head-on.
