GAC discovered major financial irregularities at Liberia's Central Bank between 2018-2023, including over-spending, unauthorized financing, and potential money laundering.
General Auditing Commission (GAC) found significant financial irregularities at Liberia's Central Bank (CBL) between 2018-2023, including over-spending, unauthorized financing, potential money laundering, and violating banking regulations. CBL disbursed $178m to gov't institutions over the counter and made unauthorized payments. GAC's audit called for immediate corrective actions and urged the legislature to implement recommendations.
July 25, 2024
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