FIA Unveils Five-Year Plan to Safeguard Liberia’s Financial System | Business

The Financial Intelligence Agency (FIA) of Liberia has launched a comprehensive five-year Strategic Plan (2026–2031) aimed at strengthening the country’s financial intelligence system, improving inter-agency cooperation, deepening stakeholder engagement, and enhancing institutional capacity in the fight against financial crimes.

The plan, unveiled on Tuesday, June 30, 2026, is designed to reinforce Liberia’s Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) framework in line with international standards set by the Financial Action Task Force (FATF) and the national ARREST Agenda for Inclusive Development (AAID).

Developed through an inclusive internal process, the strategy seeks to improve how Liberia detects, prevents, and responds to illicit financial flows while ensuring stronger coordination among government institutions, the private sector, civil society, and international partners.

Speaking at the launch ceremony, Acting Chairman of the Governance Commission of Liberia, Alaric K. Tokpa, described the FIA as a central institution in safeguarding the country’s financial integrity and strengthening governance systems.

He said the agency carries a critical national responsibility in protecting Liberia’s financial system from corruption, illicit flows, and criminal exploitation.

“The FIA is charged with the solemn duty of protecting the nation’s financial system from corruption, illicit flows, and criminal exploitation,” Tokpa said, adding that the institution “stands as a central pillar within Liberia’s governance arrangement.”

He noted that the agency’s vision aligns with building a strong and credible financial intelligence system that supports transparency, accountability, and global compliance.

Tokpa emphasized that the FIA is not just a regulatory institution but a guardian of national integrity whose work directly advances Pillar Four of the ARREST Agenda, focused on governance and anti-corruption.

“By monitoring financial flows, enforcing accountability, and aligning Liberia with international standards, the Agency ensures that the foundations of governance remain credible, transparent, and resilient,” he said. “Its mandate is therefore indispensable.”

He further praised the FIA for restoring public confidence through enforcement actions against non-compliant institutions and investigations into financial irregularities across sectors.

“The FIA is reclaiming its rightful place and performing its rightful role,” Tokpa stated. “We applaud the FIA, under the able leadership of Hon. Mohammed A. Nasser, for restoring the image of this noble institution.”

Tokpa also highlighted the importance of Liberia’s cooperation with international bodies such as the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA), FATF, and the Egmont Group, noting that financial crimes are increasingly transnational.

“Money laundering, terrorist financing, and illicit flows do not respect borders,” he said. “Through these collaborative efforts, Liberia gains access to intelligence-sharing networks and strengthens compliance with international standards.”

Describing the Strategic Plan as more than a formal document, Tokpa called it “a covenant with the Liberian people,” stressing that its success depends on implementation, accountability, and measurable results.

“A strategic plan is not successful just because it is launched. It becomes successful when it is implemented, resourced, monitored, and evaluated,” he said.

He also warned that financial crimes threaten national development by undermining revenue generation, distorting markets, and weakening institutions.

Tokpa called for stronger collaboration among the FIA, Ministry of Justice, Central Bank of Liberia, Liberia Revenue Authority, law enforcement agencies, civil society, and international partners, stressing that coordination must go beyond meetings to include real-time information sharing and joint action.

He further emphasized the role of the private sector, noting that financial institutions, lawyers, accountants, and other reporting entities must see compliance as part of national responsibility.

“Compliance should not be treated as a burden,” he said. “It should be seen as a contribution to responsible business and national stability.”

Tokpa concluded by urging all institutions to move away from siloed operations toward coordinated national action, stressing that Liberia’s financial system must serve lawful development and not criminal interests.

“Let us move away from institutional silos,” he said. “Let us move toward measurable results, implementation, and accountability.”

Speaking on behalf of the FIA management, Deputy Director General Amos Y. Boakai said the Strategic Plan represents a national commitment to strengthening systems that detect, prevent, and disrupt illicit financial flows.

“This Strategic Plan represents far more than an institutional roadmap,” Boakai said. “It is a national commitment to building stronger systems, fostering collaboration, and enhancing Liberia’s capacity to address financial crimes.”

He said the plan aligns with the government’s ARREST Agenda and will depend on collective action from all stakeholders, including government institutions, civil society, private sector actors, and development partners.

Also speaking, FIA Technical Focal Person for Program and Planning, Michael S. Doe, explained that the strategy was developed through an internal and consultative process grounded in AML/CFT assessments, FATF standards, and national development priorities.

He said the launch was intended to formally introduce the plan, communicate strategic priorities, and strengthen stakeholder understanding of the FIA’s direction for the next five years.

“The purpose is to officially launch the FIA Strategic Plan (2026–2031) and mobilize stakeholder support for its implementation,” Doe said.

Former Director of the Financial Intelligence Unit of Liberia, Alex Cuffey, also underscored the importance of the plan, noting that an effective AML/CFT system is essential for mobilizing domestic resources, attracting investment, and supporting sustainable development.

He said the FIA plays a critical role in recovering and protecting public resources that can be redirected into key sectors such as education, health, infrastructure, energy, and agriculture.

Cuffey also emphasized that successful implementation of the strategy would improve inter-agency cooperation, strengthen financial intelligence capabilities, enhance asset recovery, and ensure Liberia’s compliance with FATF and GIABA standards.

He further noted that adequate resources and political commitment will be key to achieving the plan’s objectives.

According to officials, the Ministry of Finance and Development Planning has also reaffirmed support for the FIA, recognizing its role in strengthening public financial management and governance.

The ministry stressed that effective implementation of the Strategic Plan will contribute to improved prosecution of financial crimes, recovery of illicit assets, and better alignment with international financial standards.

Meanwhile, a total of 35 participants, including representatives from inter-ministerial committees, competent authorities, and reporting institutions, attended the launch ceremony held at the FIA headquarters in Monrovia.