House Wants CBL Audited

By Victor C. Hanson, Jr

Plenary of the House of Representatives has mandated the General Auditing Commission (GAC) and the Public Procurement & Concession Commission (PPCC) to conduct a financial and procurement audit of the Central Bank of Liberia (CBL).

The mandate to audit the CBL is the result of a communication Montserrado District # 6 Representative, Edwin M. Snowe, Jr. who complained that over the past few months, CBL has been involved with moving into various counties and giving direct financial assistance or loans outside of the National Budget and Commercial Banks.

In his communication, Rep. Snowe informed plenary that the initiative taken by CBL is helpful to the citizens of the country but it is however important to ensure that those activities are carried out within the confines of the laws and status.

He said the audit is to make certain that public funds are not used for political motives or as a way of buying future votes.

Rep. Snowe said his communication seeks the endorsement of plenary to mandate the GAC and the PPCC to conduct a comprehensive financial and procurement audit of CBL. He said he did not observe anything but simply needs to ensure due diligence.

“I do not think the governor would come back after giving loans to the people and tell them that he wants them to make him a senator or a president of the country even though it is his right, but not after what he is doing,” Rep. Snowe told newsmen after the plenary decision.

Rep. Snowe stated that the PPCC should work with the GAC and if two months is more or less for the audit it would be welcomed because auditing is a technical work and it requires time.

Rep. Snowe said he wants to leave the public sector and focus on his farm. “I fear no one in my district and anyone I support will win but I want to give others the chance to have voice in making national decision. “After working in the public sector for twelve years, I must leave the door open for others,” Snowe intimated.