Monrovia – Liberia’s President Joseph Boakai has suspended the governor of the Central Bank of Liberia, Jolue Aloysius Tarlue, following a damning audit report that uncovered irregularities in the bank’s operations.
The General Auditing Commission’s report, which scrutinized the central bank’s activities from 2018 to 2023, revealed substantial financial discrepancies. The audit found that the bank extended over $80 million in unauthorized loans to the government, primarily for salary payments. Additionally, the report highlighted irregularities in contract awarding processes.
The audit further criticized the bank’s spending habits, noting that expenditure consistently outpaced revenue projections, indicating a pattern of deficit financing.
The suspension comes as President Boakai seeks to address corruption within the government. Liberia has struggled with graft, ranking 145th out of 180 countries on Transparency International’s Corruption Perception Index.
The central bank governor has pledged to cooperate with any subsequent investigation.
The audit is the latest chapter in Liberia’s ongoing battle against corruption. Former President George Weah sanctioned three government officials in 2022 for alleged corruption, drawing international attention to the issue.
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