https://www.polity.org.za
Deepening Democracy through Access to Information
Home / News / All News RSS ← Back
Close

Email this article

separate emails by commas, maximum limit of 4 addresses

Sponsored by

Close

Article Enquiry

Liberia suspends central bank governor over audit

Close

Embed Video

Liberia suspends central bank governor over audit

31st July 2024

By: Reuters

SAVE THIS ARTICLE      EMAIL THIS ARTICLE

Font size: -+

Liberia suspended its central bank governor on Tuesday after an audit found irregular loans to the government and unauthorised spending, the information minister and a spokesperson for the central bank said.

Liberia President Joseph Boakai commissioned an audit of three key government institutions, including the central bank, after taking office in January.

Advertisement

Jolue Aloysius Tarlue will be suspended indefinitely following the release last week of the General Auditing Commission's report, which focused on the period from 2018 to 2023.

The report found "irregularities" within central bank lending to the government, including more than $80 million in apparently unauthorised financing for salary payments.

Advertisement

It also found irregularities in the way some contracts were awarded.

The report also noted that the bank's management "exceeded approved expenditure limits" during the five-year period, and found that "the approved budget expenditure projections consistently surpassed revenue projections, indicating a pattern of deficit financing."

Liberia ranks 145th out of 180 countries on Transparency International's Corruption Perceptions Index, an indicator of public sector graft.

In 2022, then President George Weah suspended three government officials who were sanctioned by the United States for what it said was their ongoing involvement in public corruption.

A central bank spokesperson said the governor "will comply with any investigative team that will be set up."

EMAIL THIS ARTICLE      SAVE THIS ARTICLE

To subscribe email subscriptions@creamermedia.co.za or click here
To advertise email advertising@creamermedia.co.za or click here

Comment Guidelines

About

Polity.org.za is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Engineering News
Mining Weekly
Research Channel Africa

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on Polity.org.za is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options

Email Registration Success

Thank you, you have successfully subscribed to one or more of Creamer Media’s email newsletters. You should start receiving the email newsletters in due course.

Our email newsletters may land in your junk or spam folder. To prevent this, kindly add newsletters@creamermedia.co.za to your address book or safe sender list. If you experience any issues with the receipt of our email newsletters, please email subscriptions@creamermedia.co.za