The second coming of the Unity Party-led government promises to be different and is leaving no stone unturned in the fight against corruption in Liberia. President Joseph Boakai has suspended the governor of the Central Bank of Liberia, Jolue Aloysius Tarlue Jnr, in what government spokespersons say is a clampdown on massive corruption by previous government appointees.<\/p>\n\n\n\n
It comes just a day after the government arrested several past senior government officials of the George Weah administration.<\/p>\n\n\n\n
The announcement of the suspension<\/a> was made by the Minister of Information Cultural Affairs and Tourism (MICAT), Jerolinmek Matthew Piah, at a well-attended press conference held in Monrovia<\/a>.<\/p>\n\n\n\n This press briefing received massive media coverage, as seen here<\/a> and here<\/a>. It was also carried live on the Ministry\u2019s official Facebook page<\/a> (12:46 – 13:15 minutes\/seconds), generating over 2k views, 30 emojis, and over five comments. <\/p>\n\n\n\n The suspension has generated heated debate among members of the political class. While government spokespersons believe the suspension is a clear fight against corruption and abuse of office, elements within the opposition party are convinced there is a grand agenda to persecute and witch-hunt officials appointed during the Weah-led administration’s era. <\/p>\n\n\n\n Given the heated controversy the suspension has generated, DUBAWA has decided to investigate and shed light on it.<\/p>\n\n\n\n Suspended governor J. Aloysius Tarllue Jr<\/a> is a risk and compliance management expert who served with four banking and investment institutions in Liberia and abroad between 2004 and 2018, when he was appointed by former president George Weah<\/a> in November 2019.<\/p>\n\n\n\n According to Minister Matthew Paih, the CBL governor was suspended following a compliance audit conducted by the General Auditing Commission (GAC) between 2018 and 2023. <\/p>\n\n\n\n \u201cThe Government of Liberia through the office of the President has received the report of the General Auditing Commission (GAC) regarding the compliance audit of the Central Bank of Liberia (CBL) for the fiscal year 2018 to 2023,\u201d the minister said.<\/p>\n\n\n\n According to the GAC\u2019s audit report, the CBL\u2019s management exceeded approved expenditure limits by around $19.31 million from 2018 to 2022 and breached some important banking regulations. <\/p>\n\n\n\n Making specific reference, the CBL audit revealed payments of $8,500 to Vision Pro and $8,000 to the West Point Youth Association.<\/p>\n\n\n\n The audit also uncovered unauthorised government payroll financing activities, including a $50.2 million payment to the Government of Liberia\u2019s payroll account on November 30, 2023, followed by an additional $32.85 million on December 23, 2023. These transactions were executed without legislative ratification and approval from the CBL Board of Governors.<\/p>\n\n\n\n The Liberian president has since appointed a new act Executive Governor,<\/a> Mr Henry F. Saamoi of the Central Bank of Liberia, pending the ongoing investigation into the audit\u2019s report. <\/p>\n\n\n\n Following his suspension by President Joseph Nyuma Boakai, Governor Tarlue ran to the court,<\/a> insisting that the President had no power to suspend him.<\/p>\n\n\n\n On Friday, August 2, 2024, he told Counselor Yusuf Kaba, a justice in the chamber of the Supreme Court of Liberia, that President Boakai’s suspension was wrong and violated the act creating the CBL. <\/p>\n\n\n\n He prayed to the high court for a writ of prohibition to stop President Boakai from suspending him, adding that his appointment as Executive Governor was under the CBL laws.<\/p>\n\n\n\n According to Chapter 14, sub-sections 2, 3, and 4<\/a> of the amended and restated Central Bank Act approved on October 20, 2020, the Executive Governor, non-executive Governor, and deputy governor shall be removed through a bill of impeachment from the House of Representatives and by the Liberian Senate.<\/p>\n\n\n\n The Act states, <\/p>\n\n\n\n \u201cThe Executive Governor, non-executive Governors or Deputy Governors shall be removed by the Senate from office only upon a bill of impeachment by the House of Representatives upon any of the following reasons: Gross breach of duty, Misconduct in office, Conviction of a felony, Being declared bankrupt, disqualified or suspended from practising his profession in Liberia by order of a competent authority made in respect of him personally, and is adjudged or otherwise declared to be a person of unsound mind or incapable of properly performing the functions of the office owing to ill health.\u201d<\/p>\n\n\n\n The suspension of the CBL Executive Governor has since sparked heated debate across the country, on every street corner, and in every intellectual centre.<\/p>\n\n\n\n There are mixed views about the President\u2019s decision to suspend Mr Tarlue. Some think it violates the CBL Act, while others argue that it is in the country’s best interest.<\/p>\n\n\n\n Representative Musa Hassan Bility represents District #7 in the House of Representatives, and he thinks President Boakai has no jurisdiction over the suspension of the CBL governor. <\/p>\n\n\n\n Representative Bility, on his official Facebook page<\/a>, states, \u201cDear Mr President, in light of my interpretation of the CBL act, it appears that the authority to suspend the Governor may not be within your jurisdiction as articulated in your recent communication. To honour your commitment to uphold the constitution, I kindly urge you to reconsider your actions and adhere to the prescribed procedures outlined in the CBL Act. <\/p>\n\n\n\n \u201cAs the leader of our nation, it is imperative to ensure that laws are upheld and respected. Therefore, I humbly request that you address this matter accordingly, Your Excellency. It seems that the legal counsel you received may have been misguided, and I trust that a corrective course of action will be taken.\u201d<\/p>\n\n\n\n Another Liberian, David Marco Fatomah<\/a>, also believes that the Liberian leader was out of order to have suspended the CBL Governor. He also took to his Facebook page saying,<\/p>\n\n\n\n \u201cMr. Joseph N. Boakai’s suspension of CBL Governor Aloysius Tarlue is illegal and constitutes a gross violation of Article IV, Section 22 of the BY-LAWS OF THE CENTRAL BANK OF LIBERIA.\u201d<\/p>\n\n\n\nAbout the Governor <\/strong><\/h2>\n\n\n\n
Why was Governor Tarlu Suspended?<\/strong><\/h2>\n\n\n\n
Suspended Governor Tarlue\u2019s Response<\/strong><\/h2>\n\n\n\n
What does the law say?<\/strong><\/h2>\n\n\n\n
What do Liberians think?<\/strong><\/h2>\n\n\n\n