The 7th Inter-Universities Speech Contest has ended in Monrovia, with Ebou Cham of the Gambia emerging as winner. The event, which took place in the auditorium of the Africa Episcopal Methodist University (AMEU), on December 3, 2024, brought together five (5) contestants from the Anglophone West African countries of The Gambia, Ghana, Liberia, Nigeria, and Sierra Leone. The contest aimed to deepen the knowledge base of university and college students in Anti-money Laundering and Terrorist Financing (AML/CFT) in West Africa. Over 100 students from various universities attended the occasion.
Making the opening remark on behalf of Officer-In-Charge (OIC), Mohammed A. Nasser, at the occasion, FIA Deputy Director General- Amos Y. Boakai, praised GIABA for creating the platform to provide students in the tertiary education sector the basic knowledge and understanding of the negative impacts of money laundering, terrorist financing, and other illicit financial activities. He expressed that these crimes that the FIA combats as the national agency responsible for the implementation of the country’s AML/CFT regime are enormous and that in the process of the discharge of their duties, they may step on toes of friends who are the direct perpetrators. This, he said, makes them not system-friendly, especially against perpetrators who use their offices to exploit the system at the expense of the poor. He promised not to give up on this fight, as it is in line with the government’s ARREST agenda in respect to transparency and rule of law.
Also, in a keynote remark delivered by GIABA’s Principal Communication and Advocacy Officer, Timothy Melaye, on behalf of GIABA’s Director General- Edwin Harris, he expressed hope that “the exchange of thoughts and ideas during this programme would broaden participants’ understanding of the adverse effects of money laundering and terrorist financing on the society, especially with regards to economic development, prosperity, human security, rule of law, political stability, democracy, and well-being of citizens.” He concluded by urging participants to demonstrate commitment and motivation to take ownership of the fight against the scourges of Money Laundering and Terrorist Financing. The principal Communication Officer, Timothy Melaye, further cautioned that GIABA’s effort at the regional level would be a droplet in the ocean without corresponding strong commitments at national and institutional levels. He then stressed the need for competent authorities, relevant institutions, and the public in member states to play an active role in the delivery of GIABA’s mandate of preventing criminals from undermining the credibility of their countries’ individual financial systems and economies.
Elaborating further, on behalf of GIABA Director General, Mr. Melaye emphasized that Money Laundering and Terrorist Financing constitute major obstacles and have adverse impacts on regional security and development. He warned that these crimes erode the reputation and image of member states; as well as result into “loss of foreign direct investments, poor infrastructural development, dwindling confidence, and distortion in political as well as financial systems.”
“In response to the devastating effects of these crimes, the authorities of the Economies Community of West African States (ECOWAS) established the Inter-governmental Action Group Against Money Laundering in West Africa (GIABA) in the year 2000 as a clear demonstration of their political will to address these challenges within the region and to support the global fight against these vices”, Mr Melaye added.
The five (5) contestants of GIABA’s 7th Inter-Universities Speech Contest presented their separate speeches on the topic- ‘Impact of Anti-Money Laundering and Countering Terrorist Financing on West African Economies.’ Scores were allotted to each contestant using five criteria. The criteria included: 1) Correctness of information provided (30 points), 2) Extent of research work displayed by the speaker (30 points), 3) Overall sequential organization of thoughts (15 points), 4) Confidence, articulation and presentation skills (15 points), and 5) impact of the Presentation on the audience (10points).
Judges serving on the panel were Mrs. Gina Wood and Mr. Timothy Melaye, both of GIABA, and Mr. Cooper Leamah of FIA-Liberia. Mrs. Wood chaired the panel. Participants in the contest were Students Ebou Cham, Naa Yemoteley Yemo-Quarshie, Edwin A. Snorton Jr., Vanesia Obiamalu, and Abdulai Barrie of The Gambia, Ghana, Liberia, Nigeria, and Sierra Leone, in that order. Prizes for winners (1st to 3rd places) included cash amounts of US$1,000, US $750, US$500, plaque award, laptop, and certificate, respectively. The rest of the contestants received one laptop and one certificate each.
During their separate presentations, each of the contestants expounded on various aspects of the impacts of Money Laundering and Terrorist Financing (ML/TF) on West Africa and the role of GIABA in curbing the menace. Key among issues highlighted were corruption, bad governance, and lack of political will to end impunity.