The General Auditing Commission (GAC) has raised serious concerns over the legitimacy of a US$12 million debt claim made by the National Legislature to GT Bank, citing the absence of key supporting documentation, including contracts, delivery notes, and tax clearances. The revelation is contained in the GACโs Domestic Debt Audit Report, which exposes major irregularities in Liberiaโs internal debt verification process. According to the report, the lack of adequate records and documentary proof, has resulted in the inclusion of questionable claims in the national debt portfolio, potentially costing the government millions in unjustified liabilities.
In addition to the Legislatureโs case, the GAC also flagged a US$207,745 debt claim filed by Libenergy, Inc., a private company reportedly linked to Senator Nathaniel McGill, for similar documentation deficiencies. Auditors from the GAC noted the absence of Local Purchase Orders (LPOs), contracts, quotations, and tax compliance certificates requirements that form the basis for legitimate government transactions. Both the Legislatureโs and Libenergyโs claims were among dozens categorized by the GAC as โunsupportedโ or โlacking verifiable documentation,โ raising serious questions about fiscal accountability and oversight across government institutions and private contractors.
The GAC emphasized that these findings highlight systemic weaknesses in debt management and recordkeeping practices, stressing the need for stronger institutional controls and enforcement of financial regulations. โThe absence of verifiable supporting evidence undermines the credibility and transparency of Liberiaโs domestic debt records,โ the report warned. โPayments should only be approved upon presentation of proper documentation in keeping with the Public Financial Management Law.โ
The Commission also urged the Ministry of Finance and Development Planning (MFDP) and the Debt Management Unit to ensure that all future debt settlements undergo rigorous verification to prevent fraudulent or undocumented claims. The GAC reaffirmed its commitment to promoting accountability, transparency, and prudent public financial management as key pillars for sustaining Liberiaโs economic stability and public trust.
