Monrovia — Rustonlyn Suakoko Dennis, the CEO of Liberia’s National Oil Company (NOCAL), has strongly denied media reports claiming that she purchased a luxury vehicle for US$75,000, following allegations of public fund misuse.
In her defense, Dennis explained that the official vehicle she uses was not acquired for the alleged US$75,000. She clarified, “The CEO is aware that the position is one of trust and carries sensitive information. Therefore, a CEO will not ride in one car with her drivers, security, and staff. The CEO has a utility vehicle for errands, and may use her official vehicle for official matters.”
Dennis further emphasized that she does not sign cheques independently and that all financial decisions are reviewed by NOCAL’s Vice President of Finance.
She also expressed her determination not to “cower to political pressure,” rejecting the allegations as politically motivated.
Dennis has been under intense scrutiny after leaked documents suggested that NOCAL authorized a US$75,000 withdrawal for the purchase of an MG 2024 RX8 seven-seater SUV.
However, it was reported that the vehicle was purchased for only US$45,000, sparking questions about the missing US$30,000.
Additional investigations have unearthed troubling claims. Sources have alleged that Dennis sought a US$30,000 kickback from Cactus Motors, the dealership involved in the transaction. When the dealership reportedly refused, Dennis is said to have diverted a separate vehicle, worth US$30,000, which was then registered under her private sanitation company, “Tanti.”
The CEO of Nocal official car is not 75k. The CEO is aware that the position is of trust and carries sensitive information. Therefore, a CEO will not ride in one car with her drivers, securities and staffers The CEO has a utility vehicle for errand yes. The CEO may use her utility if need arises and use her official vehicle for official matters. The CEO encourage Young Liberian to learn to work together and not everyone will be CEO at the same time. The CEO states strongly she doesn’t sign cheques alone, but rather with a Vice president of Finance and cheques sign passed through scrutiny. The CEO will not cowtow to powwow.
Rustonlyn Suacoco Dennis, CEO, National Oil Company of Liberia
These allegations have drawn comparisons to a 2023 scandal involving former Commerce Minister Amin Modad, who resigned after being found guilty of misappropriating public funds for a personal vehicle purchase.
In response to the allegations, the Green Democratic Movement (GDM), a pro-democracy and anti-corruption group, conducted an independent investigation. The GDM’s findings concluded that there was no evidence of corruption related to the vehicle purchases.
Two Liberian newspapers, The People’s Newspaper and Verity Newspaper, had reported that Dennis had improperly procured two luxury vehicles from Cactus Motors for US$75,000, with the vehicles later disappearing from NOCAL’s asset register. However, the GDM’s investigation refuted these claims, stating that the purchases followed proper procedures.
The GDM clarified that, as a state-owned enterprise, NOCAL is governed by a board of directors and that all asset purchases must undergo a budgetary process in compliance with the Public Procurement & Concessions Commission (PPCC) guidelines. The GDM’s investigation confirmed that both vehicles were acquired following these guidelines and had received the necessary approval.
Further findings revealed that Dennis’s official vehicle was purchased for US$42,000, a price significantly lower than the US$75,000 initially authorized. Additionally, the CEO’s office maintains a utility vehicle for operational purposes.
The GDM also stated that there was no evidence to suggest that Dennis had abused her position or privileges as CEO. Dennis has expressed her willingness to undergo a full audit by Liberia’s General Auditing Commission (GAC) to investigate the circumstances surrounding the vehicle purchases.