Government has announced sweeping corrective measures to strengthen transparency, accountability, and efficiency in public financial management system.
The measures follow the completion of a comprehensive revenue reconciliation audit the General Auditing Commission (GAC) conducted.
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 Liberia Revenue Authority Commissioner General, James Dorbor Jallah, reaffirmed government’s commitment to protect public resources and restore confidence in financial governance system.
The officials assured the public that the administration remains focused on building a more transparent and accountable revenue management framework.
Ngafuan said, in late 2024, authorities detected discrepancies between revenues reported in the Tax Administration System (TAS), and deposits reflected in government Consolidated Revenue Account at the Central Bank of Liberia.
The discovery, Ngafuan said, immediately prompted concerns among state institutions responsible for safeguarding the integrity of revenue collection and remittance process.
“As custodians of public trust, we could not, and would not, ignore these concerns.”
Mr. Ngafuan said, government acted “swiftly and responsibly” to address the situation.
He recalled how on January 6, 2025, the Ministry, with the full cooperation of the CBL and the LRA, formally requested the GAC to conduct an independent investigation into the discrepancies identified as of December 31, 2024.
Ngafuan explained how the GAC had already carried 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 the revenue systems.
He praised the auditing institution for demonstrating “professionalism, independence, and commitment throughout the exercise.”
Mr. Ngafuan: “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 financial oversight mechanisms.”
According to officials, the audit uncovered several weaknesses in the revenue collection and settlement architecture, including inconsistencies between revenues recorded in transitory accounts at commercial banks and deposits reflected at CBL.
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, 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.