President Weah Requests GAC to Audit US$25M Mop-up Exercise

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President George M. Weah

It now seems that President George Manneh Weah has realized the urgency to examine what he confidently disclosed at his state of nation address, that US$25 million had been infused into the economy to mop-up excess liquidity in order to stabilize the rapid depreciation of the Liberian dollar against the US Dollar.

Finance and Development Planning Minister, Samuel Tweah has long since insisted that the money was used, as intended, for the mop-up exercise. And the Central Bank of Liberia(CBL) has meanwhile confirmed this narrative with paid adverts placed in various media outlets suggesting that the CBL, acted in close collaboration with the Samuel Tweah led Technical Economic Management Team (TEMT) during the mop-up exercise.

Now, however, it appears that sufficient due diligence was not done given President Weah’s most recent call for a GAC audit to further probe the matter.

According to the CBL, the mop-up exercise was necessary to stabilize the Liberian Dollar against the US Dollar. But it can be recalled that Finance Minister Tweah had publicly disclosed that he had opted to use money exchangers and other businesses, rather than the commercial banks because, according to him, use of the commercial banks would not have yielded the desired results. The Minister has since stoutly defended his actions, claiming that he did not do anything illegal although the PIT report suggests otherwise.

According to President Weah, the GAC is given a two-week mandate to report on their findings. However observers maintain that given the volume and scope of the work involved, two weeks would be insufficient to enable the GAC come up with a credible report. Of course, as President Weah told a BBC reporter that he is not a financial expert when he was asked on the matter after he had read his state of the nation address on the economy, the GAC would need more than two weeks to complete such a report.

Meanwhile public mounting concerns about what is seen as Finance Minister Tweah’s involvement in the affair and an apparent official attempt to shield him from public scrutiny has inundated radio talk shows and swamped public discourse. Sources say such concerns, according to observers, may have informed President Weah’s call for a GAC audit apparently in the hope that the results of the audit would serve to absolve his Finance Minister and members of the TEMT from blame.

18 COMMENTS

  1. Counselor kollie Boayue cell #886257214 & counselor James Boayue cell #0888305743 urge President Weah to become the President of EVERYONE not just the CDC. Be a President of Unity. We know President Weah is not Qualified to run a country. But we know President Weah can grow and surprise us. President Weah stop the drug use. President Weah stop the homosexual behaviors President Weah stop the secret murder of your opponents.

  2. What sense does that make??Using the money changers & others to boost financial activity rather than the commercial banks? Do y9ou have the desired results now. These are the same money changers you wanted to shut down.

  3. Please let the finance minister explain this nonsense “it can be recalled that Finance Minister Tweah had publicly disclosed that he had opted to use money exchangers and other businesses, rather than the commercial banks because, according to him, use of the commercial banks would not have yielded the desired results. ”
    The money exchanges are better generator of financial activities than the banks?? Even a 1st grader know better than that!! Come on!!
    Yes,with money changers you have little regulation . They can attest and sign fraudulent documents . Just a few months ago, they were being blamed for the high rates of exchange. Come on Mr. Weah. With the money changers,no accountability, with commercial bank,there is accountability. Mr. President both you and your finance minister “robbed the Liberian people” using this bogus scheme that makes no sense. One year in office,no integrity, how much lower can you go. If discovered you’re connected with you finance minister in this fraud, we,the people,can impeach you for “high crime ”
    Counselor kollie Boayue cell #886257214 & counselor James Boayue cell #08883057

  4. Getting at the bottom

    Weah’s call for a GAC audit to be done about this lingering $25 million issue is not unorthodox or innocuous, but rather an act of “getting at the bottom” as the president had originally promised. Such a called-for-exercise in my view, is crucial. The issue of sixteen billion Liberian dollars continues to hover over our heads. It is doubtful that the investigation will be resolved quickly. For sure, defense attorneys will go to court to exonerate their clients. The judges will take their time do all sorts of things. Who knows what happens at the end? So while we are at it, good sense is made for the twenty-five million-dollar deal to not be ignored. The mop-up exercise that’s being called for is a move in the right direction.

    It is very sad for our own men and women who work in sensitive areas to not be untrusted. Or are these men and women incompetent? Will reshuffling help? Since the CBL is the country’s nerve center, will it be helpful for a newer body of well-trained Liberians to be brought in? Do we need experienced people from the GAO or the Treasury Department of the US to teach us something? I think the president is trending in the right direction so far. I think Mr. Weah will create for himself a legacy if the US is invited to help set things up.

    Remember:
    If you teach a man how to fish, he will know how to fish. Once he masters the art of fishing, he will fish and will be able to feed his family forever.

    We need to be taught. Although we are not stupid, maybe the experience of dealing with complex monetary issues is not there.

  5. The US25M could have been used to clean out the justice system which would have created a sense of hope for fair justice and that would have led to increased in the confidence of the rule of law – which would have led to increase in foreign investment – and then led to an increase in the confidence of the Liberian dollar – and then led to a stronger L$!

    Sheesh Man! 2 much money for directed in the wrong direction! – Independent audit is needed. Any report should have been available at the time of completion and not gathered only when requested. Accountability is part of accounting and Accounting is the mandate of the Finance Ministry!

  6. The longer President Weah takes trying to shield Samuel Tweah from arrest the more certain the public will be that Tweah is his partner in crime. A word to the wise is sufficient.

  7. Even MSNBC Cable TV gives kudos to President Trump sometimes, but GMW doesn’t get any when he gets it right; take, for example, this rambling report which avoids congratulating his correct decision. Truth be told, regarding the mop-up exercise, he wisely followed recommendation of Kroll that the “ matter merits further understanding”. A critical phrase which the US embassy, in a separate statement following release of the Report, interpreted as “further investigation by appropriate Liberian officials

    Oh, well, in the emerging activist triumvirate of press, pundits, and politicos, one is left wondering which is the tail wagging the dog. Because the threat – to “organize mass actions across Liberia” less than three weeks following joint statement by the UN, AU, and ECOWAS warning us about sustaining peace, stability, etc., – was made a fortnight after Talk Show host Henry Costa told his audience that politicians should be at the forefront instead of acting weak. He went as far as naming one of these weak politicians, uh oh.

    Dismayingly, in the face of such reckless willingness to take Liberia down the path of permanent unstableness experienced by Haiti, another ancient Black Independent country, there are some self-entitled elites with the unhinged habit of slandering anyone sceptical of their adventurism. Seemingly, for them the war, and the unnecessary deaths were incidental to acquiring political power and its perks. But for those of us who grew up hearing horrors of previous hellish wars in Liberia, it isn’t, and they ought to take that into serious consideration.

    • Shut the H up! Mr. Sylvester Baghdad Moses. You should be the last person to preach moderation to anyone here, much more to Liberians in general for peace, or good governance, or democracy or anything in that regard. Except that is, you confess here that you are now a convert from those wicked and evil ways you and cohorts meted out on democratic-minded Liberians, which inevitably culminated in the death of 250,000 of our compatriots. But even burdensome and worrisome as a result, is what those punitive and hellish style of subjugation turned Liberians into eventually.

      Suffice it to say, this is your creation! Made by rascals like you. Directed by scamps like you. And poetically For scoundrels like you. Shouldn’t you be gloating for living as regretfully long as you have, to witness the outcome of your very creation? Apparently short-sighted people wrapped in whatever the self-centered ambitions, never see the length of their noses. And you want to preach what, “democracy?” “Good governance?” “Rule of law?” Mehn please! The best you could do under the circumstance is find a strong Bible-based church and seek repentance therein. Do just that and stop this useless pontification as if adding salt to our already injured souls.

  8. Fake wacko journalist Hilary Snyder, you’re such a weirdo that truth and reason always make you psycho. In any case, it isn’t surprising that a double-triple agent and veteran anarchist would go crazy about exposure: Day of reckoning coming soon…

  9. If you wanna know the greatest strength of man gave him power President Weah has dump the Liberian people already..

  10. David Hney, that is what disappointing about the Liberian conversation: Opinions not supported by facts, including personal attacks unrelated to the issues. Ironically, some of the worst offenders are members of the elitist club and you can take that to the bank. So, with all these blabbering cowards using fake identities, one hardly knows how to respond sometimes to their sloganeering.

    Anyway, perhaps, the Maritime Commission where allegedly mass robbery went on for a decade under a Kesselly should also be audited. Because it is deceitful that some of those who for a dozen years ran what some called the worst kleptocracy in our history to be threatening “mass actions across Liberia to express dissatisfaction” over hardships of the people: unconscionable hypocrites.
    .A a

    • Of course, the antidote to the galling and infuriating chicaneries from you and that other obnoxious mafflard can in no way be logic and reason. That would be unnewtonic. In other words, the reactions to your self-serving adulation of the mudheaded leadership currently misruling Liberia, deserve nothing less than what you get. Newtonic!

  11. Brother G. F. Moses,
    Why would you do that to me? Or did your fingers make a sincere error?

    I have been called all kinds of names. None of those names I have been called is correct. Never have I been called David. Who knows? Maybe before the month of March is over, someone else will call me Goliath.

    David and Goliath are old Testament characters. I am presently reading the Epistles of Paul the Apostle. Again, someone may try his or her luck and will call me Paul or maybe Barnabas. I am serious. It’s possible.

    The issues should be discussed. It’s okay to disagree with someone. Name-calling and insults should be left out of the game. Yours is not too negative.

    I want to be respected. Respect for others is good even if I have a sharp disagreement. There are some people who cannot be dealt with professionally. When that is observed, I usually move on.

    Brother G.F. Moses, I’ve got the greatest of respect for you. However, my name is not David.

    Peace.

  12. Sylvester Moses, the Sierra Leonean criminal now turn Liberian was dismissed by President Siaka Stevens in the late 70s for theft and plunder in the security service of that poor country. After the 1980 coup, his criminal career opportunist friend Kekura KpotoK brought him to Liberia and appealed to General Samuel Kanyon Doe to get him a job. He was then appointed to the National Security Agency(NSA) by President Samuel Doe. At the NSA, this rascal plundered the public treasury and misguided Doe in his looting schemes. He was right there when Doe, Shaw, Jenkins Scott and others ganged raped our country in reckless abandon. But when the political wrath of the people came upon Doe, he and others were nowhere to be found. Moses could not escape to Sierra Leone(his home country) because it had been investigated that he siphoned over $460,000.00 United States dollars meant for the purchase of security gadgets and that he was needed by the government to be persecuted in a court of competent jurisdiction. He therefore escaped to the United States and took a job as a Security Guard in a cemetery.
    During the regime of Ellen, he wanted to resurface in the Liberian government but due to his history of crookery, swindling and loot, the National Security Advisor told Ellen not to give Sylvester Moses any credence as he was nothing but a slum riffraff from Sierra Leone who has a history of rot, rot and rot. So one can see why he is obsessed with Dr. H. Boima Fahnbulleh, Jr. But all we can say to our man is that, he can maneuver all he likes to surface in the regime of the misfit Weah, mislead him and join the looting spree. But this time , Moses will not escape the wrath of the Liberian people. His silly ass will be rounded up and dealt a decisive blow. Moses, you can keep dancing on the edge of the cliff and think you are on course. Only a shove is needed to get you in the abyss and an idiot like you will only be swept in the dust bin of history.

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