Liberia: Bong Net Account Balance Stands At Over $1m

25 June 2024
Liberian Observer (Monrovia)
By Patrick S. Tokpah

Bong County has revealed a net account balance of 1.6 million United States Dollars, consisting of both USD and Liberian Dollars, according to an Income Statement from the Central Bank of Liberia.

Superintendent Hawa Loleyah Norris has, however, requested clarity on financial transactions from August 10, 2021, to June 2024, emphasizing transparency in the County's financial operations.

There was a recent resolution to lift the moratorium on Bong County's accounts--an action that led to the disclosure of the pronounced bank balance, which is raising eyebrows in the county. The lifting of the moratorium follows scrutiny and requests for an audit by the House of Representatives due to allegations of misappropriation

According to the instant CBL's statement, a copy of which is in the possession of the Daily Observer Newspaper, the USD account has a total balance of US$891,270.00, while the balance of the Liberian Dollars stands at L$138,970,175. 95

Speaking to the Press over the weekend in Gbarnga, Madam Norris said her leadership has officially written authority of CBL to provide full clarity on all financial transactions with these accounts from the period of August 10, 2021 to June 2024.

For the 14 operational accounts that were discovered at LBDI following their induction, Madam Norris said the USD component has a total balance of US$4,076.00, while the LRD balance amounted to L$844,439.25.

It can be recalled that in early August 2021, members of the House of Representatives unanimously voted in acceptance of a recommendation to place a moratorium on Bong County's accounts and further requested for an audit.

The decision to impose a moratorium on the accounts of the County came following a letter from Bong County District #3 Lawmaker, Hon. Josiah Marvin Cole seeking the indulgence of his colleagues to invite former Internal Affairs Minister, Varney Sirleaf and Madam Esther Walker, the County's former Superintendent to appear before that August body and explain the alleged misappropriation of over US$80,000 from the County's coffers.

Meanwhile, the ongoing issues in Bong County highlight the importance of accountability and oversight in public financial management.

Read the original article on Liberian Observer.

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