Accra, Ghana – In a crucial step to fortify Ghana’s financial defenses, Minister for Finance Dr. Cassiel Ato Forson has officially inaugurated a new seven-member Board for the Financial Intelligence Centre (FIC). The inauguration, a pivotal moment in the nation’s ongoing fight against financial malfeasance, saw the Minister underscore the Board’s vital role in combating money laundering, terrorism financing, and other illicit financial activities that threaten the integrity and stability of Ghana’s financial system.
The Financial Intelligence Centre, established by Ghana’s Anti-Money Laundering Act, 2008 (Act 749), serves as the national hub for receiving, analyzing, and disseminating suspicious transaction reports and other intelligence related to financial crimes. Its mandate extends to improving Ghana’s Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) regime, aligning the country with international standards set by bodies like the Financial Action Task Force (FATF).
The newly constituted Board is comprised of experienced individuals poised to guide the FIC’s strategic direction and oversight. It includes Mr. Mike Kofi Afflu as Chairperson and Mr. Albert Kwadwo Twum Boafo as the Chief Executive. Other key members are Ms. Grace Mbrokoh-Ewoal, representing the Ministry of Finance; Ms. Elizabeth Ama Yankah from National Security; and Dr. Kwasi Osei Yeboah. Crucially, the Board also benefits from the institutional expertise of representatives from the Ministry of Interior and the Attorney-General’s Department, ensuring a multi-sectoral approach to financial crime prevention.
This new leadership is expected to enhance the FIC’s capacity to gather and analyze financial intelligence, collaborate with law enforcement agencies, and strengthen regulatory oversight of financial institutions and designated non-financial businesses and professions (DNFBPs). The Ministry of Finance emphasizes that a robust FIC is essential for protecting the Ghanaian economy and maintaining its credibility within global financial networks.
Ruth Abla ADJORLOLO
