By Fiona Benson Kollie
The House of Representatives has mandated its joint committees on banking and currency, and state-owned enterprises (SOEs) to investigate the National Lottery Authority (NLA), the Central Bank of Liberia (CBL), and Guaranty Trust Bank Liberia Limited (GT Bank). Plenary decision followed a communication from Montserrado County District #5 Representative, Priscilla Cooper. Rep. Cooper requested the House to invite the Director General of the Liberia National Lottery Authority Peter Solo to clarify the growing operations of betting and gambling platforms across the country. In her communication, Rep. Cooper said, the need for the Legislature to be fully informed about the activities of betting and gambling operators currently functioning in the country. She requested that Mr. Solo appear before the House to provide detailed information on the various betting and gambling platforms licensed and operations; the regulatory framework governing these entities; whether the operators are in full compliance with government policies and statutory requirements; the revenue generation mechanisms within the sector and the financial benefits accruing to government; measures being implemented to ensure responsible gaming and protect vulnerable citizens, oversight mechanisms in place to prevent tax evasion and illicit financial activities within the sector. Rep. Cooper noted that the increasing proliferation of betting and gambling activities makes it imperative for the Legislature to exercise effective oversight to safeguard national interests. Additionally, she requested that Central Bank Executive Director, Henry F. Saamoi, along with the General Manager of Guaranty Trust Bank Liberia Limited, appear before the House to clarify concerns surrounding the recently announced system upgrade at GT Bank. According to the communication, the upgrade process has reportedly disrupted normal banking activities for more than a week, leaving many customers unable to access their accounts and with limited explanation from the bank. Rep. Cooper said, the situation has generated significant public concern, and could potentially affect confidence in the banking system, making it necessary for the relevant authorities to provide a comprehensive explanation on the matter. The measures are to resolve the issue and the timeline for restoring full banking services to customers. Following deliberations, Plenary mandated the joint committees on banking and currency and state- owned enterprises to investigate the issues raised and report their findings and recommendations to the full body for further legislative action. The entities involved are expected to appear before the committees as part of the investigative process.