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Under Investigation June 28, 2024

GAC audit on allegation of fraud and Misapplication of Funds by Officials of the Central Bank Of Liberia (CBL)

Security And Rule Of Law, Executive Liberia Anti Corruption Commission

Financial Impact

Amount Identified (USD) $580,000.00

Case Summary

Nature of Case

Story lifted from the Front page Africa news organ revealed that, in 2019, the General Audit Commission (GAC) conducted an audit which uncovered that on July 24, 2019 USD 200,000.00 was allegedly disbursed to the Liberian National Police as the
Central Bank Contribution for the July 26 celebration. Additionally, FPA also alleged that on July 23, the Central Bank of Liberia (CBL) disbursed USD300, 000.00 to the Ministry of State For Presidential Affairs for the same independence day celebration. While USD 80,000.00 was allegedly disbursed by
the CBL to the National Security Agency (NSA) for special security operations.

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