Amidst allegations of significant corruption and financial irregularities, including claims of potential money laundering and misuse of millions of public money as captured by a damaging GAC Audit Report, President Joseph Nyumah Boakai has suspended Executive Governor Aloysius Tarlue and ‘negotiated’ a mutual agreement to pay off Deputy Governor Nyemadi Pearson for unexpired tenure according to her letter of resignation which Verity News leaked.
The supposedly mutual deal between senior advisors of President Boakai and Madam Nyemadi Pearson as reflected in her resignation letter raises doubts and suspicions about Pres. Joseph Boakai’s commitment, seriousness, and campaign pledge to fight corruption.
The letter from Madam Pearson dated July 31, 2024, stated, “…I am writing to formally resign from my position as Deputy Governor of Operations of the Central Bank of Liberia. This decision follows discussions with your advisors and mutual agreements regarding the payment of my benefits, which include pension, severance, and compensation for my unexpired tenure.”
The sudden acceptance of Deputy Governor Pearson’s resignation by President Joseph Boakai, without subjecting her to suspension like Executive Governor Tarlue or even opening an investigation for potential prosecution amid a damning GAC audit report, came as a surprise and shock to some Liberians including leading civil society actors.
On July 30, 2024, it can be recalled that President Boakai took a swift decision to suspend CBL Executive Governor, Mr. J. Aloysius Tarlue, without compensation over what he termed as a damning GAC audit report covering fiscal years 2018-2024. President Boakai in his suspension letter further stated that additional actions against Tarlue were being contemplated due to what he termed as serious allegations of noncompliance and gross failure of Tarlue to perform his fiduciary responsibilities.
Some political pundits and legal analysts are left to wonder why similar action was not taken against Madam Pearson who supervised commercial banking operations that led to dozens of illegal financial transactions including the payment of US$178 Million and LRD 1.94 Billion in cash over the counter that points to potential money laundering as reflected in the 2021 Anti-Money Laundering Law of Liberia (AML/CFT Regulations). The AML/CFT Law prevents the Central Bank of Liberia from paying more than US$10K in cash over the counter.
The latest move by President Boakai to accept and thank Madam Pearson for her service has led to a barrage of criticisms that accuse his administration of being selective, shady, and shielding in its fight against corruption and accountability. As Tarlue remains axed amid his legal batter with the Government of Liberia, it appears that Pearson may now have a walk in the park with access to huge benefits and impunity after GAC recommended that she and others fully account.
A well-respected and vocal development specialist, Mr. Ambulah Mamey, recently accused some of President Boakai’s advisors, including Boakai’s nephew Jake Kabakolie, of trying to shield some governors and board members by advising President Boakai to compromise the CBL audit findings. Mamey claimed that audit reports are being used to blackmail while warning President Boakai that such precedent could undermine his fight against corruption.
“If President Boakai accepts Pearson’s resignation, he will be arming Liberians with fresh evidence that there are “sacred cows” and “untouchables” in his fight against corruption. By that single action, the President will undermine his fight against corruption that is gaining huge public support, and ruin his own legacy,” Mamey concluded.
A coalition of civil society organizations in Liberia under the banner National Civil Society Council of Liberia (NCSCL) has termed President Boakai’s acceptance of Pearson’s resignation as “Business as usual”. The Council criticized President Boakai for accepting Madam Pearson’s resignation letter without a thorough review of audit findings that have indicted Pearson on allegations of financial irregularities.
The Center for Transparency and Accountability in Liberia (CENTAL) through its Executive Director, Anderson Miamen, wonders why would Madam Pearson even resign in the middle of a damaging audit report that could be traced to her and others. CENTAL cautioned President Boakai to impartially proceed with an anti-corruption campaign that is geared to achieving accountability and justice.
A renowned political activist, Mr. Moses Yahmia, has warned President Boakai and his government against providing protective shields for certain individuals, including Madam Nyemadi Pearson, who have been indicted by the GAC report for plundering State resources. Yahmia accused Pearson of faithfully executing every dubious financial request from former President George Weah.
With the recommendations from the General Auditing Commission (GAC) calling for full accountability, President Boakai is under pressure to exert more effort, honesty, and seriousness in his campaign against corruption. Could accepting resignation from an accused be a form of coddling corruption? A lot of pundits who spoke to Verity News believe so.
