Financial Intelligence Unit Gives NGOs 90 Days To Regularize Accreditation
The Director of the Financial Intelligence Unit (FIU) at the Ministry of Finance and Development Planning (MFDP) has given Non-Governmental Organizations (NGOs) in Liberia 90 days to process their accreditation.
Director Alex Cuffy stated that the accreditation of NGOs is intended to prevent money laundering and terrorist financing in the sector.
Director Cuffy made the statement Friday at the signing ceremony of a Circular between the FIU and MFDP held at the ministry in Monrovia.
He added that no NGO will be allowed to operate if it does not get accredited by the Finance Ministry despite their registration with the Liberia Business Registry (LBR).
Cuffy stressed that all NGOs are required to put measures in place to prevent their entities from being used for money laundering and terrorist financing purposes.
The FIU Director maintained that any NGO operating in Liberia who fails to meet the 90-day deadline to be accredited will be operating illegally.
Meanwhile, Finance Samuel Tweah has said government is conducting a review of NGOs activities in country, noting that the review will seek clarity on the activities of the NGOs in the agriculture, health, education and other sectors to measure their impact in the nation.
He noted that NGOs receive huge amounts of money for certain activities, but the reality on the ground is different and cannot be seen in the communities where they claim to be operating.
Tweah also asserted that government is interested in results and anti-money laundering, noting that development partners and the MFDP and FIU have to work in unison to battle money laundering and terrorist financing.
The Finance Minister emphasized that terrorist financing and money laundering are global phenomenon and government has greatly increased support to the FIU to fight corruption and illicit financial flows in collaboration with relevant law enforcement agencies.