GANTA — The Ministry of Finance and Development Planning has issued a stern warning over the government’s ongoing financial mismanagement, disclosing that multiple accounts held by various ministries and agencies may be shut down due to the growing national debt, which now exceeds $8 million.
By Franklin Doloquee, [email protected]
Deputy Minister for Economic Management, Dehpue Y. Zuo, revealed that the long-standing issue of multiple accounts within government agencies has persisted since 2006, severely affecting the country’s financial stability.
In a public address, Zuo criticized the actions of several ministries, accusing them of contributing to the country’s rising debt. “Instead of helping to resolve the nation’s debt crisis, many ministries are misusing public funds through excessive travel, the purchase of luxury vehicles, and personal expenditures such as rushed marriages,” Zuo said. “Under this administration, we will no longer tolerate such practices.”
To combat this issue, Zuo announced that ministries and agencies with multiple commercial bank accounts would have those accounts closed, and funds would be redirected to the Central Bank of Liberia for better financial oversight.
The government also outlined plans to allocate 85% of its financial resources to critical sectors, while reserving the remaining 15% for less pressing concerns.
Zuo further emphasized that the problem of financial mismanagement has plagued Liberia since the administration of former President Ellen Johnson Sirleaf.
“We must focus on essential investments rather than continue funding ministries and agencies that have only exacerbated Liberia’s debt crisis since 2006,” he added.
Reports obtained by FrontPage Africa indicate that several government ministries and agencies are involved in maintaining multiple accounts.
These include the Ministry of Justice, the Ministry of State for Presidential Affairs, the Ministry of Gender, Education, Defense, Mines and Energy, Labour, Health, Agriculture, Internal Affairs, the Environmental Protection Agency (EPA), and the Liberia Electricity Corporation (LEC).
Deputy Minister Zuo and Vice President Jeremiah Koung confirmed that 31 separate accounts were discovered at the Liberia Electricity Corporation (LEC).
LEC’s Managing Director, Thomas Gonkenwon, confirmed that the Liberia Anti-Corruption Commission (LACC) and the Liberia Revenue Authority (LRA) are investigating the matter. “An audit is currently underway, and the results will be made available to the public soon,” Gonkenwon stated.
Vice President Koung expressed frustration over the misuse of public resources, specifically criticizing ministers and officials for their excessive use of government assets, such as air conditioning and government vehicles, which were reportedly being used for personal purposes beyond office hours.
“The ministers and officials responsible for addressing Liberia’s debt have only added to it by purchasing expensive vehicles and engaging in unnecessary travel,” Vice President Koung stated.
Additionally, Koung voiced concerns over growing public dissatisfaction with Liberia’s infrastructure, particularly the deployment of yellow machines for road construction.
“If the government fails to address the people’s concerns, it could lead to unrest,” Koung warned. “We must act urgently to address these issues, or the situation could escalate.”
These remarks were made during the closing ceremony of the Energy Sector Retreat held in Ganta, Nimba County.
The two-day event, which included representatives from various government agencies such as the Ministry of Finance and Development Planning, Liberia Electricity Corporation (LEC), Liberia Electricity Regulatory Commission (LERC), EPA, Ministry of Mines and Energy, and the Rural and Renewable Energy Agency, was designed to gather input on strategies to improve Liberia’s energy sector.