LEITI Stands By Report On NOCAL

The Secretariat of the Liberia Extractive Industries Transparency Initiative (LEITI) says it fully stands by the Fourth (4th) EITI Reconciliation Report for Liberia approved and launched on Thursday, May 16, 2013.

In a release, the LEITI Secretariat says its confirmation comes in the wake of the recent press statement released by the National Oil Company of Liberia (NOCAL) and reports in the media questioning certain findings in the 4th Reconcffiation Report.

“The Secretariat is especially surprised given that NOCAL is part of the LEITI process and was involved in the reconciliation, review, and endorsement processes of the report. NOCAL sits on the Multi-stakeholder Steering Group (MSG) which approved the Report. At least two drafts of the Reconciliation Report (dated March 26 and April 23) were circulated to relevant government agencies including NOCAL,” the release added.

LEITI says the information presented in the 4th EITI Reconciliation Report for Liberia covering June 1, 2010 through June 30, 2011, reflects, clearly the information submitted to the Reconciler/LEITI by Africa Petroleum, NOCAL, and the University of Liberia adding, “There remains a $230,000.00 variance between NOCAL and UL, and $100,000.00 between Africa Petroleum and the Ministry of Finance (MoF) via NOCAL.”

As a practice, the LEITI will shortly conduct a secondary review through an independent audit firm to resolve any discrepancies found during the reconciliation process. The LEITI Secretariat encourages concerned parties to submit additional information for that secondary review. Meantime, the Secretariat fully backs the information contained in the 4th Reconciliation Report and approved by the Multi-stakeholder Steering Group on May 16, 2013.

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