President John Dramani Mahama has appointed Kwadwo Twum Boafo as the Acting Chief Executive Officer of the Financial Intelligence Centre (FIC).

Mr. Twum Boafo, a civil engineer and finance expert, headed the Ghana Free Zones Authority as the Chief Executive Officer between 2009 and 2017.

This announcement was contained in a press release signed by the Acting Spokesperson to the President, Felix Kwakye Ofosu, dated Monday, February 3, 2025.

Twum Boafo holds a BEng in Materials Engineering from the University of Wales, an MSc in Civil Engineering from the Rensselaer Polytechnic Institute, Troy, New York.

He also holds an MBA in Finance and Investment Analysis from Stetson University.

The Financial Intelligence Centre (FIC) was established under Section 4 of the Anti-Money Laundering Act, 2008 (Act 749) as amended.

It is the national center for the receipt and analysis of suspicious transaction reports and other information relevant to predicate offenses of money laundering, terrorist financing, and proliferation financing.

The FIC then disseminates actionable intelligence to competent authorities.

The FIC also has the mandate to request additional information from Accountable Institutions and Designated Non-Financial Businesses and Professions (DNFBPs) in Ghana.

The DNFBs include lawyers, accountants, notaries, auctioneers, religious bodies, non-governmental organizations, real estate developers or agents, the gaming sector, dealers in precious metals and precious stones, and dealers in motor vehicles.

SA/EK

Read Kwakye Ofosu's tweet below: