MONROVIA – The saga surrounding the advance payment of US$37 million by the High Power Exploration (HPX) Group to the Liberian Government’s Revenue Account at the Central Bank of Liberia is taking a new turn, as newly elected Bong County District #7 lawmaker, Representative-elect Foday Fahnbulleh, calls for an investigation into the matter.
Fahnbulleh, who is vying for the Deputy Speaker post, expressed concern about the potential impact of such news on the reputation of the entire government, including members of the legislature. He emphasized the need for transparency and accountability, stating that an investigation into the HPX US$37 million advance payment saga should set a precedent for outgoing and incoming government officials.
HPX, through its subsidiaries Ivanhoe Liberia and SMFG, entered into a Framework Agreement with the Government of Liberia on December 20, 2019, highlighting the importance of transparency and adherence to international standards in financial transactions. The framework agreement was amended on March 30, 2022, with the aim of negotiating an agreement for rail and port infrastructure in the Yekepa-Buchanan corridor to facilitate the evacuation of iron ore from HPX’s Guinean Nimba Iron Ore Project.
“The Framework Agreement as amended was announced publicly and received strong support from the Government of Liberia,” the company noted. Since 2019, HPX has been in negotiations with the Government of Liberia on terms and payments related to the final agreement.
However, the controversial advance payment of US$37 million by HPX has raised questions about the legitimacy of the funds, with Finance Minister being involved in the transactions.
Representative-elect Foday Fahnbulleh, dissatisfied with the situation, is calling for an investigation into the HPX payment saga. Fahnbulleh, running for Deputy Speaker, aims to bring corporate accountability and regional balance to national leadership.
Unlike other candidates for the Deputy Speaker position aligned with the President-elect or Vice President-elect’s counties or parties, Fahnbulleh stands as an independent candidate from Bong County. The two candidates contesting the Speakership are Representative Fonati Koffa of the CDC from Grand Kru and Representative Richard Koon of the Unity Party from Montserrado.
Fahnbulleh, known for his ten-year advocacy for corporate accountability, played a pivotal role in China Union’s commitment to spreading crush rocks across Fuamah to control dust during the dry season. His colleagues view him as someone who transcends party lines and acknowledges his focus on corporate responsibility, especially regarding the Mineral Development Agreement (MDA) with China Union Mining Company.
In a statement on the Truth Breakfast Show, Representative Dixion Seboe of the CDC, a lead campaigner for Representative Fonati Koffa’s Speakership bid, praised Fahnbulleh as a young man with integrity and focus, offering valuable contributions to national leadership.
Fahnbulleh believes that an investigation into the HPX deal will not only bring clarity to the issue and restore the Legislature’s integrity but will also establish a foundation to prioritize corporate accountability in the 55th Legislature’s agenda.