An investigation by Verity News has uncovered documents and payment records, which reveal that more than US$2.25 million in public funds were disbursed to the BMC Group of Companies for the construction of a National Oil Company of Liberia (NOCAL) headquarters, a building that, by all available accounts, was never built by BMC.
The payments, made in two major tranches under questionable circumstances, raise serious concerns of systematic looting, violations of procurement laws, and what analysts describe as a coordinated effort to drain public coffers in the final months of President George Weah’s administration.
Phase 1: The Rushed Deal and the 50% Windfall (July 2023)
On July 13, 2023, NOCAL, under the leadership of CEO Saifuah Gray and operating under President Weah’s oversight, signed a contract with BMC Group to construct a five-storey headquarters valued at US$2,913,857.
Just four days later, two checks were issued in rapid succession:
9:00 AM – Check No. 759828: US$728,464.42
11:00 AM – Check No. 759829: US$728,464.42
Together, they totaled US$1,456,928.84, exactly 50% of the full contract value.
Crucially, the payments were made before a single stone was laid, in clear violation of the Public Financial Management (PFM) Law and Public Procurement and Concessions Commission (PPCC) regulations, which require payments to be tied to specific milestones and deliverables, not issued upon contract signing.
Even more suspicious, BMC withdrew the entire amount in cash from SIB Bank on the same day.
Financial analyst Ambulah Mammey commented, “This move needs no explanation, it speaks volumes about the intention behind the deal.”
Phase 2: A Post-Election Cash Grab (December 2023)
On November 17, 2023, the National Elections Commission (NEC) announced President Weah’s defeat in the presidential run-off. That same evening, Weah conceded and issued a directive to limit all government spending to US$10,000 without prior approval.
According to documentations, just weeks later, on December 15, 2023, NOCAL issued an addendum to the BMC contract, increasing the value by US$1,592,518 for the addition of a sixth floor.
This brought the total contract value to US$4,506,375, an increase of over 54.6%.
That day, two more large checks were issued:
Check: US$496,259.38
Check: US$300,000.00
Total Day’s Payment: US$796,259.38
As with the first disbursement, the money was immediately withdrawn in cash- again raising alarms about the urgency and secrecy surrounding these payments during a lame-duck period.
The “50% Scheme”: A Pattern of Corruption
By Inauguration Day 2024, total payments to BMC had reached US$2,253,188.22, exactly 50% of the new, inflated contract value.
This emerging pattern, signing a contract, immediately disbursing 50%, inflating the contract, and paying another 50%, has been dubbed the “50% Scheme” by analysts. It suggests a calculated effort to use NOCAL as a vehicle for large-scale embezzlement.
With no visible progress on the building and no legal justification for the payments, the scheme appears more financial sabotage than infrastructure development.
According to internal sources and documentation, neither the Ministry of Justice nor the Ministry of Finance and Development Planning approved the disbursements-a direct violation of the PFM Law.
“This wasn’t just mismanagement-it was deliberate, organized theft,” said analyst Ambulah Mammey. “The contractor withdrew every cent in cash. That tells you all you need to know.”
Even more troubling are reports that the Liberia Anti-Corruption Commission (LACC) has taken no visible action. Whistleblowers say the case is “before the LACC,” but no findings have been released, allegedly due to efforts to shield allies of the previous regime.
Current Status: A Ghost Building, a Real Burden
Today, the NOCAL headquarters site remains largely untouched.
“That building doesn’t look like a $4.5 million project,” said a source within the agency. “But we’re still paying, because most of the first 50% went to enrich officials in the Weah administration.”
The Liberian public is now left footing the bill for a building that exists only on paper.
The timeline paints a damning picture: In its final months, the Weah administration appears to have weaponized NOCAL to funnel public money into private pockets, ignoring every safeguard meant to protect Liberia’s finances.
The Liberian people must demand:
A full, independent investigation by the LACC
Criminal prosecution of all those involved
Complete recovery of the stolen funds
As Maimey put it:
“You don’t need anyone to tell you what happened. The facts are loud. This wasn’t governance-it was a heist.”
