By Bill W. Cooper
The General Auditing Commission (GAC) recently released audit report has revealed several concerning findings regarding the management of the National Roads Fund of Liberia (NRFL).
One of the most alarming discoveries, contained in the report covering the years 2018-2020, was the revelation that the NRFL opened multiple bank accounts at the Central Bank of Liberia (CBL) and other commercial banks, some without proper authorization.
According to the audit report, the NRFL, responsible for financing the construction and maintenance of the country’s road infrastructure action further highlighted the several financial and governance issues that have engulfed the entity over the period.
The action, the audit report said it was a total violation for small institution like the NRFL Office to have had multiple illegal bank accounts, thus raising serious questions about the transparency and accountability of the fund’s financial management.
The NRFL act was enacted, on December 12, 2016, and was later published January 26, 2017, as it is responsible for the day to day management and administration of the National Road Fund and headed by the National Road Fund Manager, Liberia.
The audit report revealed that as for unsupported payments, over US$86,000 was paid in 2019 without proper documentation such as payment vouchers and receipts, while over US$17,000 paid to consultants who were not recruited through a competitive process.
In terms of governance and Internal Control Issues, the report identified significant governance failures, including the lack of approved policy documents, absence of quarterly and annual reports, no organizational chart, no established audit committee, and no procurement committee minutes.
“As for Withheld Funds, the government withheld US$7 million from petroleum levy fees meant for the National Road Fund, redirecting it to the national budget,” the audit report highlighted.
The GAC report added that in terms of uncollected Debts, importers owed over US$22 million to the National Road Fund, with no penalties or enforcement measures in place for those delaying payments of road user charges.
Meanwhile, the revelations in the GAC audit report have sparked widespread outrage and calls for accountability, with many expressing their frustration and disappointment at the mismanagement of the NRFL, which plays a crucial role in the country’s development and economic growth.
They so narrated that the GAC audit report serves as a stark reminder of the importance of transparency and accountability in the management of public funds by all public officials.
They added that the report also highlights the need for government institutions to adhere to established procedures and guidelines to ensure that taxpayer money is used effectively and efficiently for the benefit of all Liberians.