By Bill W. Cooper
President Joseph Boakai’s recent appointment of James B. Wilfred as Acting Deputy Governor for Operations at the Central Bank of Liberia (CBL) seems to put a daunt on his quest for accountability and transparency in government.
There are already mixed reactions regarding his handling of the corruption fight and to appoint Mr. Wilfred to replace Nyemadi Pearson who resigned her position Deputy Governor recently is even more troubling.
Wilfred, is on records for owing the CBL over US$90,000 in loan balances, despite the findings of a recent audit report by the General Auditing Commission (GAC), he was appointed by the President on August 12, 2024 to that top position.
The GAC audit report, which was released this year, highlighted several irregularities and financial mismanagement at the CBL which leading to the suspension of its Executive governor, Aloysius J. Tarlue and resignation of Madam Pearson as well.
Among the findings was the revelation that Wilfred, Senior Director for Operations, Research, Policy and Planning Department of the bank, had failed to repay a substantial loan amounting to over US$90,933.24.
But despite this glaring issue, President Boakai saw fit to appoint Wilfred to a senior position within the bank, raising questions about his commitment to holding officials accountable for their actions.
However, critics have pointed to the potential conflict of interest and lack of transparency in the decision-making process with Mr. Wilfred serving as the bank Deputy Governor for Operations.
They also argued that appointing someone with outstanding debts to a key position within the CBL sends the wrong message about the government’s commitment to upholding financial integrity and accountability.
According to them, they are unconvinced that the country under President Boakai is serious about the fight against corruption, which has plagued the Liberian society for decades.
They are calling for greater transparency in the appointment process and have urged the government to take action to address the issues raised in the GAC audit report holistically.
Meanwhile, the controversy surrounding CBL since the release of the damning GAC audit report that revealed significant compliance failures at the CBL from 2018-2023.
The Inquirer Newspaper has so gathered that some high-ranking officials and allies of President Boakai is planning to shield the CBL former Deputy Governor, Pearson, and other special-interest board members from accountability.
Their decision comes amidst the damaging GAC audit report of allegations of massive corruption, financial improprieties, and noncompliance including a US$178 Million dish-out in excess cash over CBL’s counter and an US$11.8 Million award in Contracts without bidding.
They also alleged that the government is planning to dish-out a huge cash to Madam Pearson as a resignation package for her service to country through the banking sector over the years.
