Liberia Suspends Central Bank Governor Over Audit Revelations

Liberia's central bank governor, Jolue Aloysius Tarlue, was suspended indefinitely after an audit revealed irregular loans and unauthorised spending. The audit was commissioned by President Joseph Boakai and highlighted over $80 million in irregular financing, among other discrepancies, from 2018 to 2023. The governor pledged cooperation with any investigative team.

Liberia's central bank governor, Jolue Aloysius Tarlue, was suspended indefinitely on Tuesday after an audit uncovered irregular loans to the government and unauthorised spending, according to the information minister and a central bank spokesperson.

President Joseph Boakai commissioned the audit of three key government institutions, including the central bank, upon taking office in January. The General Auditing Commission's report identified over $80 million in irregular financing for salary payments and additional irregularities in contract awards from 2018 to 2023.

The audit also highlighted that the central bank's management exceeded approved expenditure limits and consistently forecasted budget deficits. Liberia is already ranked 145th out of 180 countries on Transparency International's Corruption Perceptions Index. A central bank spokesperson stated that Governor Tarlue would cooperate fully with any forthcoming investigations.

(With inputs from agencies.)