Liberia: LACRA Operated Two Bank Accounts with Board Approval, Documents Show

Monrovia – Official documents obtained by FrontPageAfrica confirm that the Liberia Agriculture Commodity Regulatory Authority (LACRA) operated two separate bank accounts legally and with full authorization from its Board of Directors.

The confirmation comes amid public scrutiny following the June 25, 2025, suspension of LACRA Director General Christopher D. Sankolo and Deputy Director General for Administration and Finance, Chea B. Garley. 

The suspensions, announced by President Joseph Boakai, are part of an ongoing investigation by the Liberia Anti-Corruption Commission (LACC) and a financial audit requested by the President to be conducted by the General Auditing Commission (GAC).

According to the Executive Mansion, the suspensions are precautionary and do not constitute an admission of wrongdoing. The President said the move was necessary to ensure transparency and accountability as investigations proceed.

Following the announcement, allegations circulated on social media and among the public that Sankolo and Garley had opened unauthorized accounts at United Bank for Africa (UBA) and Ecobank Liberia to divert government funds.

However, internal documents reviewed by FrontPageAfrica reveal that the accounts in question were authorized by a formal resolution passed by LACRA’s Board of Directors in April 2025. 

The resolution approved the opening of multiple bank accounts to support LACRA’s operational needs, including export transactions and revenue collection.

One of the accounts, UBA account number 53030060000029, became a focus of controversy after a deposit receipt mistakenly listed the account name as “LPMC,” referring to the now-defunct Liberia Produce Marketing Corporation. The account had originally been used by LPMC and was transferred to LACRA in 2018 following the enactment of the law that dissolved LPMC and established LACRA.

Despite remaining dormant for years, the account was reactivated as part of LACRA’s financial operations. On June 25, 2025, Zeno Industry, a cocoa exporting company, attempted to deposit funds into the account. 

The receipt generated by UBA identified the account name as “LPMC,” prompting immediate concerns over potential misappropriation of funds.

Zeno Industry reported the issue to LACRA’s Special Assistant to the Director General, Wesseh Zoryou, who reportedly informed Sankolo. Sankolo is said to have contacted the UBA branch manager at Freeport, who attributed the error to outdated system information in the bank’s database. The bank reportedly assured LACRA that the issue would be corrected.

Despite this explanation, an image of the deposit receipt circulated on social media, fueling allegations that LACRA officials were operating a secret or unauthorized account.

FrontPageAfrica has reviewed board resolutions and banking records confirming that both the UBA and SIB Liberia accounts were registered under LACRA and used for official transactions. The reactivation of the UBA account and subsequent fund transfers were conducted with the knowledge and approval of senior management.

Following the incident, Sankolo reportedly filed a formal complaint with UBA on July 3, requesting a public clarification regarding the receipt error. He is also reportedly consulting legal counsel over reputational damage caused by the public allegations.

An official familiar with LACRA’s operations stated that the accounts were established to provide operational flexibility and that all financial activities were conducted under existing auditing protocols. The official emphasized that no funds were diverted for personal use and that the transfer to the UBA account was consistent with the agency’s internal financial procedures.