By Archie Boan
Liberia has made significant strides in strengthening its Beneficial Ownership Transparency (BOT) regime under the global Opening Extractives Program, according to the Head of Secretariat of the Liberia Extractive Industries Transparency Initiative (LEITI), Mr. Jeffrey Yates, who represented Liberia at the recently concluded global peer exchange held in Yerevan, Armenia, from November 17–18, 2025.
The event organized by the Extractive Industries Transparency Initiative (EITI), marked the close of the multi-year program that supported 12 countries, Liberia among them, in building systems to curb illicit financial flows, promote corporate accountability, and enhance the integrity of the extractive sector.
Speaking to participants at the gathering, LEITI Boss Jeffrey Yates expressed deep appreciation for Liberia’s inclusion in the initiative and highlighted the country’s transformative progress.
“It was an honor to represent Liberia and share our journey. Since joining the Opening Extractives Program in September 2021, we have implemented reforms that are reshaping Liberia’s governance of beneficial ownership information,” Yates said.
He detailed a series of achievements that demonstrate Liberia’s growing commitment to natural resource governance and transparency, including:
Publication of a national assessment report outlining the state of beneficial ownership transparency and offering actionable recommendations
Creation of a multi-agency Beneficial Ownership National Steering Committee, bringing together institutions such as the Liberia Extractive Industries Transparency Initiative, Liberia Business Registry, Liberia Revenue Authority, Financial Intelligence Agency, and others.
Development and publication of a National Beneficial Ownership Regulation, now serving as the legal foundation for collecting and verifying ownership information
Extensive awareness campaigns across nine counties, engaging civil society, women’s groups, youth organizations, traditional leaders, local authorities, and extractive companies.
Stakeholder consultations with leaders from all three branches of government, the Liberia National Bar Association, business communities, and student groups
Capacity-building programs for journalists, civil society organizations, and staff of key government agencies and extractive companies
Preliminary launch of an online Beneficial Ownership Registry, expected to go fully public in early 2026.
Establishment of a dedicated Beneficial Ownership Transparency Office at the Liberia Business Registry
Significant improvements in manual data collection, alongside the production of a guidance note for registrars and companies.
Approval of a multi-pronged work plan by Liberia’s Cabinet, offering a clear roadmap for future reforms
Visible political will, evidenced by strong engagement from senior government officials, including ministers and agency heads
Yates emphasized that these reforms are not merely procedural, but transformative for Liberia’s governance landscape.
“These achievements place Liberia firmly on the right trajectory to meet international standards. They reflect not just technical progress, but genuine political commitment and cross-sector collaboration,” he noted.
He also extended gratitude to the EITI, Open Ownership, development partners, and the Government of Liberia for their continuous support.
“This has been a collective effort. The reforms we celebrate today are the product of partnership, persistence, and a shared vision for transparency,” Yates added.
As the Opening Extractives Program concludes, Liberia is now poised to advance into a new phase of implementation, one aimed at ensuring that beneficial ownership information becomes an accessible public good that strengthens accountability in the extractive sector and beyond.
