Liberia: Omega Insurance Group Reaffirms Commitment to FIU Reporting Obligations


MONROVIA – The President and Chief of the OMEGA INSURANCE GROUP LIMITED. Mr. Gajay Ananaba has disclosed that following a series of meetings between his insurance company and the Financial Intelligent Unit (FIU), the FIU has addressed and clarified most of his company’s (Omega) concerns with respect to its CTR and STR reporting obligation under the FIU Act of 2012 and its regulation.

In a statement issued under the signature of the President and Chief of the OMEGA INSURANCE GROUP Limited Mr.Gajay Ananaba, with the provision of these needed clarifications by the FIU  and the  Management  Omega Insurance Limited has reaffirmed its continuous compliance with its aforesaid reporting obligation.

The statement indicated that Omega look forward to a c a cordial and meaningful relationship with the FIU and remain fully committed to honoring all lawful obligation requires of its by the FIU and all relevant government agencies as it relates to compliance.

The statement further that, as advised by the FIU on June 24, 2022, Omega Insurance Group as a non-bank financial institution subject to applicable AML/CFT laws and regulations of Liberia, the company is in substantial compliance with the aforementioned measures and prepared to improve where deficient.

It can be recalled that, unlike other reporting entities/insurance companies, OMEGA has refused and failed to file STRs and CTRs with the FIU as required by law, adding that OMEGA has also refused and failed to allow the FIU to inspect and examine its books and records, contrary to law and for reasons known to it. This non-compliance is continual, inappropriate, and suspicious on the part of OMEGA and its Managing Director Ganjay L. Ananaba.

FIU at the time said that Mr. Ananaba and OMEGA display not only a hostile and arrogant posture toward the rule of law and blatant refusal to meet their statutory obligation but are also preventing regulators from carrying out statutory mandates, thereby creating huge vulnerabilities in Liberia’s financial space for obvious personal gains.