By Amos Harris
The Government of Liberia has announced sweeping corrective measures aimed at strengthening transparency, accountability, and efficiency within the country’s public financial management system following the completion of a comprehensive revenue reconciliation audit conducted by the General Auditing Commission (GAC).
The announcement was made during a high-level joint press conference held on Tuesday, May 19, 2026, at the Ministry of Finance and Development Planning in Monrovia.
Senior government officials including Finance and Development Planning Minister Augustine Kpehe Ngafuan, Executive Governor of the Central Bank of Liberia Henry F. Saamoi and Commissioner General of the Liberia Revenue Authority James Dorbor Jallah reaffirmed government’s commitment to protecting public resources and restoring confidence in Liberia’s financial governance system.
The officials emphasized that the administration remains focused on building a more transparent and accountable revenue management framework.
Minister Ngafuan disclosed that in late 2024, authorities detected discrepancies between revenues reported in the Tax Administration System (TAS) and deposits reflected in the Government of Liberia Consolidated Revenue Account maintained at the Central Bank of Liberia.
According to him, the discovery immediately prompted concerns among state institutions responsible for safeguarding the integrity of Liberia’s revenue collection and remittance process.
“As custodians of public trust, we could not and would not ignore these concerns,” Minister Ngafuan declared, stressing that the government acted swiftly and responsibly to address the situation.
He revealed that on January 6, 2025, the Ministry of Finance and Development Planning, with the full cooperation of the Central Bank of Liberia and the Liberia Revenue Authority,
formally requested the General Auditing Commission to conduct an independent investigation into the discrepancies identified as of December 31, 2024.
The Finance Minister explained that the General Auditing Commission had already been carrying out a broader audit covering the period from 2018 to 2023, but later agreed to extend the review through 2024 to ensure a more comprehensive and credible assessment of Liberia’s revenue systems.
He praised the auditing institution for demonstrating professionalism, independence, and commitment throughout the exercise.
Minister Ngafuan further noted that although the government initially expected completion of the audit by May 2025, the GAC requested additional time due to the complexity and technical nature of the review process.
He said the government respected the request because of the importance of conducting a transparent and detailed investigation capable of strengthening public confidence in Liberia’s financial oversight mechanisms.
According to officials, the audit uncovered several weaknesses within Liberia’s revenue collection and settlement architecture, including inconsistencies between revenues recorded in transitory accounts at commercial banks and deposits reflected at the Central Bank of Liberia.
Additional findings reportedly highlighted variances between the Tax Administration System and the ASYCUDA customs platform, irregular reversal transactions, delays in revenue remittances, and unauthorized withdrawals from transitory accounts.
Government officials acknowledged that the report exposed significant reconciliation gaps, operational weaknesses, and systemic deficiencies that require urgent reforms.
In response, President Joseph Nyuma Boakai has endorsed recommendations for the report to be forwarded to the Ministry of Justice and the Liberia Anti-Corruption Commission for further review and possible investigation.
Minister Ngafuan stressed that the government remains fully committed to ensuring that all findings contained in the report receive appropriate legal and institutional scrutiny.
The Finance Minister emphasized that should evidence of criminal conduct be established, the government will ensure that anyone found culpable during the seven-year period covered by the audit faces the full weight of the law.
He stated that the administration’s approach demonstrates its determination to uphold accountability, transparency, and the rule of law in the management of Liberia’s public resources.
Officials also disclosed that even before the audit was finalized, the Ministry of Finance and Development Planning, the Central Bank of Liberia and the Liberia Revenue Authority had already begun implementing strategic reforms aimed at tightening revenue controls and improving oversight systems.
These measures include revisions to banking agreements governing transitory accounts, strengthened reconciliation procedures, improved internal monitoring systems, and modernization of revenue reporting frameworks.
Government authorities believe the ongoing reforms will significantly reduce vulnerabilities within Liberia’s revenue collection process while improving efficiency, accountability, and transparency across public financial institutions.
Officials concluded by reaffirming the Boakai administration’s commitment to institutional reform, fiscal discipline, and sound economic governance
While pledging continued collaboration among public institutions to safeguard Liberia’s financial future and strengthen confidence among Liberians and international development partners.
