MONROVIA – A recent General Auditing Commission (GAC) report has revealed that over US$90.5 million went unaccounted for at the Liberia Electricity Corporation (LEC) during the tenure of former Managing Director Monie R. Captan, raising urgent questions about the Boakai administration’s commitment to accountability. Public accountability advocate Martin K. N. Kollie, who carefully reviewed the 144-page audit covering 2018 to 2023, described the findings as “damning and disturbing,” and demanded swift action. “Over US$90.5 million cannot be accounted for. No evidence. No supporting documents,” Kollie said, challenging whether President Joseph Nyuma Boakai will hold the responsible officials accountable.
The report outlines massive procurement irregularities amounting to US$61,151,609, for which no bidding documents, contracts, or supporting paperwork were found during Captan’s leadership of LEC. Kollie argued that the lack of documentation points to systematic mismanagement rather than oversight. “No bid proceedings and no contracts from 2018 to 2023,” he stressed, underscoring the seriousness of the situation.
In addition, the audit found US$15,511,603 in cross-border receivables with no supporting evidence to confirm their validity or intended purpose. Kollie warned that such omissions cast serious doubts on LEC’s internal controls. “No evidence and supporting documents to prove cross-border receivables amounting to US$15,511,603.42,” he noted, highlighting the potential for financial abuse.
The GAC also found that US$10,044,606.64 in Personal Income Tax (PIT) deductions collected by LEC employees during Captan’s tenure were not properly remitted to the national treasury. Kollie described this as a direct theft from Liberians and a violation of tax laws. “No evidence of remittance of Personal Income Tax amounting to US$10,044,606.64,” he said, emphasizing the impact on public finances.
Further irregularities include a US$2,845,998.40 contract awarded to Petro Trade Inc. without a “no objection” from the Public Procurement and Concessions Commission, as required by law. The audit also identified US$975,000 invested by LEC with no clear disclosure of purpose. Kollie stressed the cumulative impact of these lapses. “We are talking about over US$90.5 million unaccounted for here. No evidence. No supporting documents. No accountability.”
Kollie questioned whether President Boakai will take concrete steps, especially in light of similar patterns of financial mismanagement at other state institutions such as the Central Bank of Liberia. “But will Pres. Boakai hold them accountable?” he asked, warning that ignoring these issues perpetuates impunity.
The activist highlighted that Liberia’s ongoing poverty is largely linked to elite corruption. “Corrupt public officials are solely responsible for the mass suffering of our people,” Kollie said. He called for the prosecution of all officials implicated by the GAC, Liberia Anti-Corruption Commission, Internal Audit Agency, and Financial Intelligence Agency, and insisted that stolen funds and assets must be recovered.
Kollie also revealed that he and his team are finalizing a review of the 581-page FY2026 Draft National Budget, which projects US$1.2 billion in revenue. He questioned whether the proposed budget reflects the needs of ordinary Liberians and promised to release community-focused analyses for areas like West Point, Clara Town, New Kru Town, Logan Town, and others.
Concluding his commentary, Kollie said Liberia’s suffering is man-made and preventable. “The suffering in Liberia is artificial. It is man-made,” he said. “The country has enough for all of its people to benefit. But a handful of political elites continues to loot everything year-in and year-out while the majority suffers.” He urged President Boakai to demonstrate leadership and ensure accountability for the unaccounted funds discovered during Monie Captan’s tenure at LEC.
