Monrovia, Liberia – Hon. Edwin Melvin Snowe, a prominent opposition figure, has publicly predicted that the ruling Unity Party (UP) administration, led by President Joseph Nyuma Boakai, will be limited to a single term. In a statement on January 29, 2025, Snowe made this assertion while addressing Henry Saamoi, the newly appointed Governor-designate of the Central Bank of Liberia (CBL). “From all indications, the UP government is a one-term government,” Snowe stated, underscoring his belief that the current leadership is on a path that will not extend beyond its current term.
The senator’s remarks were a pointed commentary on the state of Liberia’s governance, especially concerning the recent developments surrounding the CBL. Snowe questioned how Saamoi would respond to a hypothetical situation in which a future government took actions similar to those faced by former CBL Governor Aloysius Tarlue, who was suspended by President Boakai in July 2024. The suspension followed an audit revealing major financial mismanagement, including unauthorized loans and contracts issued without the proper approvals.
Tarlue’s suspension was part of a broader effort to address accountability issues at the CBL, but it has become a highly contentious issue. The audit revealed that the central bank had extended $83 million in loans to the government without the necessary authorizations and had awarded $11 million in contracts without competitive bidding. These actions prompted widespread concern over the CBL’s financial practices and raised questions about the oversight of Liberia’s monetary system.
Following his suspension, Tarlue contested the decision, arguing that it was politically motivated and unlawful. He filed a petition for a writ of prohibition in an attempt to reverse his removal. However, the legal battle took an unexpected turn when Tarlue and the government reached a settlement. In exchange for withdrawing his lawsuit, Tarlue reportedly received a financial settlement of $375,000. The settlement effectively ended the legal dispute and closed the case without imposing costs on either party.