Pres. Boakai Suspends CBL Governor Amid Allegations of Corruption

President Joseph Boakai has announced the immediate suspension of Central Bank of Liberia (CBL) Governor J. Aloysius Tarlue following serious corruption allegations.

A recent audit report by the General Auditing Commission (GAC) revealed significant irregularities in the awarding of contracts under Tarlue's administration. According to the leaked GAC audit, over $11.8 million in contracts were awarded without proper bidding processes, raising concerns about the governance and operational integrity of Liberia's central bank.

Information Minister Jeremiah Piah confirmed the suspension, stating that this decisive action aims to uphold transparency and accountability within Liberia’s financial institutions. The decision underscores ongoing concerns regarding the credibility and independence of the Central Bank amidst these allegations.