The Government of Liberia has swiftly responded to the General Auditing Commission (GAC) 's findings on revenue collection and reconciliation, taking decisive steps to plug loopholes and promote transparency in public finance management.
Finance and Development Planning Minister Augustine Kpehe Ngafuan, Liberia Revenue Authority Commissioner General James Dorbor Jallah, and Central Bank Governor Henry F. Saamoi, speaking at a joint press conference, outlined the background, major revelations, and the way forward following the audit.
The audit, which was ordered by the government after alarm bells rang in late 2024, focused on inconsistencies between the Tax Administration System and actual deposits in the government's consolidated revenue account at the Central Bank.
Minister Ngafuan, reading the team's joint statement, recounted that he called for an independent probe from the Auditor General on January 6, 2025, after growing concerns. The GAC, already reviewing 2018-2023, extended its scope to 2024, demanding additional time to ensure the audit's credibility.
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The audit uncovered systemic flaws--discrepancies between transitory and general revenue accounts, mismatches between customs and tax records, unauthorized cash withdrawals, irregular reversals, and significant delays by commercial banks in remitting funds to the Central Bank.
Ngafuan disclosed that government has accepted the GAC's recommendations and has passed the report to the Ministry of Justice and the Liberia Anti-Corruption Commission for further investigation and action on possible fraud or wrongdoing over the last seven years.
He explained that authorities had already begun tightening revenue controls before the report's release, including revising banking agreements with commercial banks to ensure greater accountability and stricter revenue-sweep schedules.
Among the measures rolled out are requirements for daily revenue sweep reports from commercial banks to MFDP and CBL, the deployment of the Automated System for Customs Data at key border points to curb manual interventions, and the expansion of the Liberia Integrated Tax Administration System to regional offices.
Upgrading ASYCUDA to version 4.4 for direct electronic integration with banks and CBL for automated validation
- Conducting quarterly reconciliation exercises among revenue institutions.
He said the government is pushing to integrate LITAS, ASYCUDA, IFMIS, and other financial systems for real-time reconciliation and is in talks with private firms, such as John S. Morlu LLC, to deploy technical solutions to track public funds.
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Minister Ngafuan lauded the GAC for its professionalism and reaffirmed the commitment of MFDP, LRA, and CBL to transparency and accountability as the process moves forward.
"This audit is a major step in our quest for transparency, accountability, and financial integrity in Liberia," Ngafuan told reporters.
