MONROVIA – In a decisive move to bolster Liberia’s battle against corruption and financial crime, the Financial Intelligence Agency (FIA) and the Asset Recovery and Property Retrieval Taskforce (AREPT) have formalized their collaboration through a Memorandum of Understanding (MOU). Signed on July 2, 2025, this partnership aims to enhance cooperation, data sharing, and joint investigations, with the ultimate goal of recovering millions of dollars lost to corruption and safeguarding the country’s financial system.
The agreement establishes a framework for critical communication and expertise exchange between the two agencies. This collaboration strengthens Liberia’s capacity to identify and disrupt financial crimes that have drained public resources for years. By coordinating efforts, FIA and AREPT seek to accelerate the recovery of stolen assets and ensure that misappropriated public funds are returned to the national budget to support development priorities.
At the signing ceremony held at the FIA headquarters, AREPT Chairman Cllr. Edwin Kla Martin highlighted the urgent need to stem the theft of public resources. He commended President Joseph Nyuma Boakai for his unprecedented backing of anti-corruption efforts, stating, “This is the first time in Liberia to have the full support of the President.” Cllr. Martin challenged financial crime fighters to act with professionalism and fearlessness, emphasizing that history will judge their contributions to this critical fight.
FIA’s Officer-In-Charge, Mr. Mohammed A. Nasser, echoed this commitment, affirming the interconnected roles of both agencies. He pointed out that combating corruption is closely linked to efforts against money laundering and terrorist financing. Mr. Nasser reaffirmed FIA’s dedication to supporting AREPT, recognizing that their combined expertise is vital for Liberia’s financial integrity.
The timing of this MOU is crucial. Liberia’s 2024 budget has been plagued by irregularities, including over $13 million in off-budget spending. Several sectors, from education to telecommunications and oil, have experienced financial mismanagement and delays in fund recovery. The coordinated approach between FIA and AREPT aims to close loopholes that criminals have exploited, increasing transparency and restoring public trust in government institutions.
Beyond joint investigations, the partnership will focus on capacity building, including forensic accounting, asset tracing, and legal processes for prosecuting financial criminals. This professionalization is expected to enhance Liberia’s anti-corruption framework and ensure that recovered funds can be efficiently reinvested in essential public services such as healthcare, education, and infrastructure.
Despite the promise of this partnership, challenges remain. Corruption in Liberia is deeply entrenched, requiring sustained political will, adequate funding, and consistent transparency. The government must provide regular updates on the progress of investigations and the amounts recovered to maintain public confidence.
President Boakai’s visible support sends a positive signal, but the ultimate measure of success will be tangible results. Every dollar reclaimed from corrupt hands represents an opportunity to improve the lives of Liberians who have long suffered the consequences of financial abuse.
Liberia stands at a pivotal moment. The new alliance between FIA and AREPT offers hope that millions of dollars stolen from the public treasury will no longer disappear without consequence. With decisive action, transparency, and accountability, Liberia can begin to reverse decades of financial mismanagement and build a future grounded in integrity and good governance.
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