Monrovia – One of Liberia’s leading opposition institution, the Liberty Party says that its National Chairman, Mr. Benjamin Sanvee, has resumed active duty, following the end of his leave of absence.

Sanvee was mentioned in the leak of an Internal Audit Unit (IAU) of the Ministry of Finance and Development Planning on the operational audit of the Private Sector Development Initiatives (PSDI), as head of one of several businesses that allegedly received business loans totaling US$545,700 but, according to the findings those businesses could not be located.

The company, Sanvee Holdings Inc. under which Mr. Sanvee is associated reportedly received a US$45,000 loan.

The PSDI is a project, which was established in 2014 at the MFDP to provide loans to Liberian-owned small and medium-sized Enterprises (SME).

The loan was meant to financially-strengthen Liberian businesses.

In so doing, the process would create jobs and accelerate the participation of Liberian owned businesses in the economy of Liberia.

Auditors noted: “We received GE Fund account statement, loan agreements and customers’ file verification to authenticate the existence of the businesses including all other borrowers who received loans from PSDI.”

“Based on their addresses on books, we did not find or see the twelve businesses at locations stipulated. We tried to contact them using telephone numbers obtained from borrowers’ files, but their phones were permanently switched off.”

The report continues: “However, on May 31, 2015, while concluding the draft report, we made further contacts, and were able to reach Mr. Benjamin Sanvee, CEO/Sanvee Holdings Inc.

The auditors said they were by Mr. Sanvee that the reason they did not see the business at Bong Mines Bridge as stipulated on the business file was because the business had been transferred to Sinkor, 24th Street.

When questioned on the repayment of the US$45,000 loan received from the project, he promised to call us back after he shall have consulted his financial officer.”

The report noted that disbursing loans to institutions that do not exist or cannot be located constitutes deception, integrity issue and fraud.

On Thursday, the Liberty Party said that Mr. Sanvee, on behalf of Sanvee Holding Inc., has initiated discussions with the Company’s Creditor for the restructuring of the Company’s loan.

In a statement, signed by the party’s secretary general Jacob Smith, the party said: “As a result, the Company has commenced repayment of the loan, making a down payment of more than 15% of the outstanding amount of the loan.

Chairman Sanvee has also taken the necessary steps to ensure that the loan repayment remains on course, avoiding any further default.

The Executive Committee applauds Chairman Sanvee for his quick action in dealing with his family business, and removing any cloud from over his leadership of the Party.”

Sanvee acknowledged at a news conference last week that since the audit’s revelation, it has been a tough time for him and his family.

He said his stepping aside from the party was not an act of being a coward but it was geared around his integrity.

“I have thought about and prayed about this, and in the end as they say truth never hides. I am not resigning, the leave of absence is to take the time to restructure the loan and to make right our intentions.”

He said his company was not proud that the agreement was defaulted neither was its intent, but it was due to the dismal economic climate in the country.

He declined to apologize, stating emphatically: “We will not apologize for being Liberian, we received a legitimate loan, and I wasn’t a chairman of the Liberty Party when my family business received the loan, so I’m going to correct the wrong.”

Monrovia – The Vice Chairman For Political Affairs of Liberty Party, Benjamin Sanvee, says though the country has not been able to capture everything that was lost over the years, there is still hope to come as Liberia has a long way to go.

“I believe with all my heart, Liberia’s best and brightest days are still ahead,” he said.

Sanvee served as keynote speaker during the official launching ceremony of the smile Liberia project “send them to school” at the Bella Casa Hotel over the weekend.

Smile Liberia is an NGO whose aim is to bring smiles to the children in Liberia’s poorest areas by providing them access to quality education and to leverage the power of quality education in order to eliminate the extreme poverty that many Liberians are facing.

Praising the charity organization, the former Montserrado Senatorial aspirant said with all the great infrastructure, if the country does not invest in education of the next generation, the nation is heading for a disaster.

“We can build all of the roads, we can build all of the bridges, we can have all the good hotels, if this nation does not invest in the education of the next generation, this is a nation that is heading for doom,” he asserted.

 “It is not the issue of scholarship, it’s about books; it’s also about mentoring a child. It is that child who wants to be a nurse and you are nurse; you take that child under your wing. Each and every one tonight makes up your commitment that you will mentor a child.”

He thanked the organization for the initiative and added that they should not settle for only the status-quo.

 J.H. Webster Clayeh, websterclayeh@frontpageafricaonline.com