Monrovia, Liberia—The Liberian government launched a thorough investigation into possible income leakage and financial irregularities after a compliance evaluation found notable discrepancies in the country’s tax-collecting and reconciliation systems.
On Tuesday, May 19, 2026, at a joint press conference in Monrovia, Commission General James Dorbor Jallah of the Liberia Revenue Authority (LRA), Governor Henry F. Saamoi of the Central Bank of Liberia (CBL), and Minister Augustine Kpehe Ngafuan of the Ministry of Finance and Development Planning (MFDP) disclosed that the audit discovered alarming differences between actual deposits made into government accounts and revenues recorded in government tax systems.
Speaking to reporters, the finance minister stated that the probe started when officials found discrepancies in late 2024 between deposits shown in the government’s general revenue account at the Central Bank of Liberia and revenues reported in the Tax Administration System (TAS). “As custodians of public trust, we could not and would not ignore these concerns,” the minister stated.
He stated that on January 6, 2025, the government formally requested that the General Auditing Commission (GAC) conduct an independent probe. In order to guarantee what officials referred to as a “complete and credible assessment,” the audit, which initially spanned the period from July 1, 2018, to December 31, 2024, was later enlarged to encompass the 2024 fiscal year, according to Ngafuan.
He informed reporters that the audit purportedly found differences between money deposited into the Central Bank and revenue reported in commercial banks’ transit bank accounts. The Minister also mentioned irregular reversal transactions involving government income, unapproved withdrawals from transit accounts, and differences between customs and tax administration systems.
The results, however, revealed “systemic weaknesses, reconciliation gaps, and operational deficiencies” throughout Liberia’s revenue-collecting chain, according to the country’s finance minister. Additionally, he revealed that President Joseph N. Boakai has already ordered the audit report to be sent to the Ministry of Justice and the Liberia Anti-Corruption Commission (LACC) in order to ascertain whether criminal fraud took place and to punish anyone found accountable.
“Anyone found capable of defrauding the government over the seven-year period of this audit will be brought to justice,” the minister warned.
In an effort to improve accountability and stop other leaks, he stated that remedial steps are already being taken. Revised agreements with commercial banks, daily reporting requirements for revenue transfers, increased implementation of automated tax and customs systems, and quarterly reconciliation exercises among revenue-generating institutions are some of the measures that the minister has announced.
In order to enable real-time tracking and reconciliation of income across agencies and banks, he also disclosed plans to integrate important government financial systems. In addition, the finance minister said it is in advanced discussions with private sector experts and technology firms to help modernize revenue monitoring and reconciliation systems. “One of the firms expected to support the process is linked to former Auditor General John S. Morlu Il,” he added.
Minister Ngafuan, meanwhile, commended the General Auditing Commission for carrying out what officials called a challenging and delicate audit and promised complete cooperation as ongoing investigations and reform initiatives are carried out. According to him, the disclosures are anticipated to heighten public pressure on the government to guarantee responsibility and retrieve any public funds that may have been misappropriated due to fraud, carelessness, or structural flaws.
Reported by: Princes Saah
