To Ensure Accountability and Efficiency
In a significant move towards transparency and accountability, the President of the Republic, H.E Joseph Nyuma Boakai, has directed the General Auditing Commission (GAC) to conduct a thorough audit of three crucial government bodies: the Central Bank of Liberia, the National Security Agency (NSA), and the Executive Protection Service (EPS).
President Boakai, in a formal communication to the Auditor General of the GAC, has specified that the audit must encompass the period from 2018 to 2023 and release the findings within three months.
This directive by Boakai underscores his commitment to fulfilling a promise made during his campaign and reiterated in his inaugural address—to conduct a comprehensive audit of the previous administration’s stewardship. The audit of these institutions is the initial step towards a broader examination of various government ministries and agencies, aligning with the President’s anti-corruption agenda and his vision for a transparent governance framework.
Addressing the public on multiple occasions, including the campaign period, his inaugural address, and the annual message, he consistently emphasized the need for a thorough review of the previous government’s financial management. During his recent Annual Message, he highlighted discrepancies in the reported financial standing of the country, particularly at the Central Bank of Liberia (CBL).
President Boakai disclosed, “The net international reserves position reported at the end of December 2023 was US$220 million. The report of US $40 million as the GoL’s consolidated account balance as at January 19, 2024 is not supported by the fact. The balance reported by the CBL as of the same date was US$20.5 million, highly encumbered, NOT US$40 million.”
He reiterated his administration’s commitment to conducting regular audits across all branches of government, emphasizing the importance of fostering a culture of accountability and transparency.
The forthcoming audit of the Central Bank of Liberia, the National Security Agency, and the Executive Protection Service is significant, as it marks the first time in years that these security-related entities, which receive budgetary allocations, will undergo such scrutiny. This initiative signals a pivotal step towards enhancing governance practices and ensuring the responsible use of public resources.
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