President Joseph Boakai has set a significant precedent in governance and public sector transparency by publicly disclosing his assets, income, and liabilities that were filed to the Liberia Anti-Corruption Commission (LACC) months ago.
Boakai's decision to make his declaration of interests available to the public showcases his commitment to leading by example and upholding the highest standards of integrity in government operations, the Executive Mansion said in the statement over the weekend.
"Transparency not only strengthens public trust but also underscores unyielding dedication to rooting out corruption and fostering a climate of openness and accountability," the statement, signed by Presidential Press Secretary, Kula Fofana, indicated. "The President reiterated the hope that in continuing to champion transparency and ethical conduct, his actions will serve as a beacon of hope and inspiration for all Liberians, signaling an era of responsible and conscientious leadership that is committed in the nation."
According to the information published on the presidency's website, President Boakai's net worth stands at $970,419, with $5,750 in cash on hand and funds deposited in the International Bank Liberia Limited, $5,750 cash on hand, and $57,037.35 and L$795,917.32 deposited with the International Bank Liberia Limited. Notably, the President does not hold foreign assets or bank accounts but has declared liabilities of $201,500.
Among the notable assets revealed by President Boakai, a lifelong agriculturist is his ownership of cattle valued at US$16,000. The president also reveals he has pigs valued at US$6,400.
This move towards transparency is seen as a critical step in fostering public trust and combatting corruption within the government. The Executive Mansion emphasized that transparency is essential in promoting accountability and ethical conduct in governance.
President Boakai's public disclosure of his assets is seen as a beacon of hope and inspiration for all Liberians, signaling a new era of responsible and conscientious leadership in the nation.
This move by President Boakai surpasses the previous record set by former President Ellen Johnson Sirleaf and immediately past President George Weah-both of whom only reportedly declared their assets and liabilities but were never published.
However, Ellen in 2017 provided a summary of her assets filing with the LACC after nearly 12 years in office.
Sirleaf's net worth was reported at $1.7 million, with details of her income, assets, and liabilities also made public.
Ellen claimed at the time that she only had US$3, 255.00 cash on hand on February 2, 2017. The highest among in the President's account, according to her declaration, was US$153, 006.00 kept with the Bank of America account situated in Charlotte, U.S.A.
Sign up for free AllAfrica Newsletters
Get the latest in African news delivered straight to your inbox
For Weah, he noted that making his assets known to the public would pose threats to his and members of his family, especially his children, lives.
This leaves Boakai as the only Liberian leader in modern history to share with the public comprehensive details of his earnings as declared with less than a year in office.
Section 10.2 of the Code of Conduct for Government Officials and Employees demands public officials to declare assets upon taking office and while exiting.
The obligation for public officials to declare their assets under Section 10.2 of the Code of Conduct for Government Officials and Employees highlights the importance of transparency and accountability in governance. The law, however, did not make it compelling for designated officials and employees to make public their declarations.
President Boakai's action sets him apart as the only Liberian leader in modern history to share comprehensive details of his earnings just six months into office, demonstrating a commitment to openness and ethical leadership.
As Liberians examine and scrutinize the asset report, they can recognize the President's initiatives in fighting corruption and fostering transparency. Liberia's advancement hinges on such decisive actions, and President Boakai's readiness to disclose his financial details establishes a compelling example for upcoming leaders.
