Minister for Finance, Dr. Cassiel Ato Forson, has inaugurated a new seven-member board for the Financial Intelligence Centre (FIC) as the country ramps up efforts to combat financial crimes, including money laundering and the financing of terrorism.
The newly constituted board, chaired by Mr. Mike Kofi Afflu, includes representatives from key national institutions such as the Ministry of Finance, National Security, the Attorney-General’s Department, and the Ministry of the Interior. Mr. Albert Kwadwo Twum Boafo, the FIC’s Chief Executive, also serves on the board.
The board is tasked with strengthening oversight in Ghana’s financial system at a time when financial crime schemes are growing increasingly complex.
The FIC plays a pivotal role in monitoring suspicious transactions and ensuring compliance with international anti-money laundering frameworks. Its reconstitution comes amid heightened global scrutiny on financial transparency and national efforts to shore up confidence in regulatory institutions.
Separately, Dr. Forson last week inaugurated a new Board of Directors for Consolidated Bank Ghana Limited (CBG), a key state-owned lender created during Ghana’s financial sector cleanup.
The Finance Minister emphasized the government’s intention to recapitalize CBG in the upcoming fiscal year, describing the bank as “a symbol of state intervention,” following the injection of approximately GHS 30 billion during the sector’s restructuring process.
“I have assured the board of the government’s commitment to recapitalize CBG. However, it is equally important that this board safeguards taxpayers’ money,” Dr. Forson said during the swearing-in ceremony.
He also cautioned against excessive remuneration practices at state-owned enterprises, noting that inflated salaries and board allowances would not be tolerated under the current administration.
Mr. Ernest Mawuli Agbesi, newly appointed Chairperson of CBG’s Board and a former executive at the institution, pledged a renewed focus on accountability and performance.
The new CBG Board includes:
Dr. Naomi Wolali Kwetey – Managing Director
Ms. Irene Ackuaku – Member
Mr. David Adom – Member
Mr. Michael Kwasi Anyamesem – Member
Mr. Stephen Kporzih – Member
Dr. Sa-ad Iddrisu – Member
Mrs. Immaculate Kawe Kanlisi – Member
Mr. John Alexander Ackon – Member
Both appointments signal the Finance Ministry’s intent to reinforce governance frameworks across critical financial institutions, amid ongoing fiscal pressures and reforms aimed at restoring macroeconomic stability.
