Monrovia — FrontPage Africa has learned that the House of Representatives Joint Committee on Investment and Concession Compliance is investigating a controversial letter submitted by Oumar Toguyeni, Chairman of Nioko Resources and shareholder in Pasofino Gold, over allegations that lawmakers say were intended to mislead the Legislature and wrest control of Hummingbird Resources (Liberia).
The letter, dated September 4, 2025, and addressed to the Joint Committee, accused Hummingbird Resources of providing misleading financial information and claimed the company owed the Government of Liberia US$3.485 million under its Mineral Development Agreement (MDA). Toguyeni, who also chairs Pasofino Gold, presented the letter as Pasofino's official position--an assertion the committee dismissed as misleading and "maliciously intended."
Committee's Response
The Joint Committee, chaired by Rep. Foday Edward Fahnbulleh (District #7, Bong County), rejected most of Toguyeni's claims and has launched a probe into the motives behind the letter. Lawmakers believe the communication was part of an attempt by Nioko Resources to gain undue control over Hummingbird's operations in Sinoe County.
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Over the past two months, the committee has held several meetings with Hummingbird Resources regarding delayed payments. Following a review, the committee concluded that Toguyeni's allegations were not in Liberia's best interest. After further engagement with Pasofino's CEO, lawmakers agreed to recommend a payment plan to the Liberia Revenue Authority (LRA) for settlement of the outstanding debt.
Toguyeni's Letter to Pasofino Board
FrontPageAfrica has obtained another letter written by Toguyeni to Pasofino Gold's board of directors. In the strongly worded communication titled "Urgent Action Required in Respect of Obligation to the Government of Liberia," Toguyeni accused Pasofino's management of "continued inaction" in settling the US$3.485 million liability, despite raising fresh financing in May 2025.
"The Joint Committee has met with Hummingbird multiple times in the past two months to obtain its reasons for the tardy payments and issued a letter to the company instructing them explain this latest letter from Nioko Resources. After significant review and investigation, the Joint Committee has deemed the letter to be misguided and for a purpose that is not in the best interests of Liberia and the Dugbe Gold Project." - Joint Committee on Investment and Concession Compliance, House of Representatives
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He alleged that management prioritized paying fees and service providers over meeting obligations to Liberia. Toguyeni revealed that Hummingbird, through its subsidiary Mansa Resources Limited (MRL), had offered Pasofino an unsecured loan to cover the debt. However, Pasofino's CEO countered with a proposal to convert the loan into equity and secure additional financing. While Hummingbird revised its offer, Toguyeni claimed management failed to engage meaningfully.
"By rejecting this proposal, management has chosen to allow the company to default in its obligations to the Liberian Government with the hope that an alternative will present itself in sufficient time to avoid adverse consequences," the letter warned.
Toguyeni cautioned that Pasofino's failure to act could trigger sanctions from the Liberian Government, reputational damage with local communities near the Dugbe Gold Project, loss of investor confidence, and a potential plunge in shareholder value.
A Pattern of Controversy
Toguyeni's role in the affair has fueled suspicions on Capitol Hill. He has previously been linked to a failed Nioko takeover bid of Pasofino Gold in 2025, which collapsed due to lack of financing. Nioko's backers include Coris Bank and Coris Invest Group (CIG), run by Burkinabe businessman Idriss Nassa and reportedly advised by Sébastien du Montessus, the former Endeavour Mining CEO fired in January 2024 for misappropriating more than US$20.9 million before later settling with partial repayment.
With the Joint Committee now probing the controversial letter, lawmakers say they will determine whether the move was a legitimate shareholder concern or part of a calculated scheme to disrupt Liberia's gold sector.
