The Management of Sapelle International Bank (SIB) has responded publicly to a recent default judgment handed down by the Ministry of Labor, neither declaring the ruling as neither final nor binding.
The Bank emphasized that the allegations brought forward were solely those of Ms. Miatta Sonia Jarry, its former Treasurer and Risk Manager.
In a formal statement SIB confirmed that it has filed legal documentation to vacate the Ministry’s decision, contending that it holds “valid legal grounds” to contest the judgment.
The controversy stems from a June 2025 ruling in which the Ministry of Labor found SIB liable in a case of alleged wrongful dismissal.
According to Ministry findings, Ms. Jarry were reportedly terminated with “malice, prejudice, and administrative errors,” primarily by foreign administrators identified as Ghanaian nationals.
Ms. Jarry, a prominent figure in Liberia’s financial sector, is described in official Ministry records as a “Seasoned Banker and Integrity Icon.” Prior to joining SIB, she served seven years at the Central Bank of Liberia.
Her dismissal, according to the ruling, followed repeated internal reports she made concerning unauthorized loans allegedly issued by SIB without the approval of its Board of Directors.
SIB’s statement reiterated that the Ministry’s decision was based on unchallenged claims and stressed that the Bank’s legal response is aimed at ensuring that due process is followed.
“We maintain that the Default Judgment does not reflect a final legal outcome,” the Bank noted.
As the legal battle unfolds, the case has attracted significant public and media attention, raising broader concerns about governance, transparency, and foreign influence within Liberia’s banking sector.
The Ministry of Labor has not yet issued a comment on SIB’s motion to vacate the ruling.