These are not our accusations. They are Liberia’s own findings.

$373.9 million in government revenue could not be traced

A GAC compliance audit covering 2018 to 2024 could not trace hundreds of millions of dollars between the Tax Administration System, transitory accounts, and the General Revenue Accounts. After reconciliation, $91.8 million and L$12.67 billion were still unresolved.

LRA, MFDP, and CBL initially called the variances "common," an explanation the Auditor General rejected as not applicable given the audit's post-period reconciliation. Finance Minister Ngafuan then formally accepted the findings on the government's behalf, calling the audit "an important milestone," and referred the report to the Ministry of Justice and the Liberia Anti-Corruption Commission for further investigation.

$1.2 million paid for irrigation systems with documented physical defects

A GAC management letter for SADFONS (Smallholder Agriculture Development for Food & Nutrition Security) found that auditors who physically visited four irrigation construction sites in May 2026, in River Gee, Maryland, and Grand Gedeh counties, documented damaged flood gates, canals built with block instead of the contracted stone pitching, and hectares far short of what was contracted, against $1,196,728 already paid.

All three irrigation contracts were signed December 29, 2023, originally due April 29, 2025, and were still incomplete at the May 2026 site visit after three extensions. The contractors’ performance guarantees had already expired by the time GAC checked, which GAC itself flags as a risk to recovering the money.

One bank flagged in three separate donor-funded project audits

CitiTrust Savings & Loans Liberia Limited shows up as an unresolved problem in three separate audit documents covering three unrelated projects. Under STAR-P, it was paid $36,768 in full for a digital lending platform GAC’s field visit found no evidence of. Under LIFT-P, it failed to remit a required $4,800 interest payment. Under RETRAP, it passed on only half of a $20,059.33 grant transfer, leaving $10,039.33 unaccounted for, and never remitted $3,660.54 owed for a warehouse project.

GAC’s recommendation in both the LIFT-P and RETRAP documents uses nearly identical wording: pursue recovery and consider discontinuing operations with CitiTrust.

Paid in full for a warehouse and a factory. Neither is finished

STAR-P, one of two projects the Liberian Senate ordered independently audited in November 2025, paid its contractor in full for both a warehouse and an oil palm processing factory. Neither was complete when GAC audited it.

The same management letter found competitive bidding rules bypassed on other purchases, fixed assets never entered into a formal register, and grantee equipment sitting idle and unverified.

38 percent of a $101 million road project still isn’t built

SECRAMP, a $101.2 million World Bank-funded road project, passed its financial statement audit. A separate GAC field verification found 38.48 percent of the contracted work still outstanding, five bridges unrepaired, and asphalt core samples up to 10.7 millimeters short of spec.

$712,482 in contractor claims could not be validated, and three villages near a project quarry are still waiting on resettlement payment flagged in a prior audit.

Two audits passed. Here’s what still got flagged

REALISE and FTHRP both received clean, unmodified audit opinions for 2025. REALISE’s Gender-Operational Account still closed the year $1,352,801 in the negative. FTHRP’s opinion literally reads “present fairly...except for:” and never states the exception.

Management attributes REALISE’s negative balance to transactions processed but not paid due to insufficient cash, not misuse.

LEC handed three counties’ power distribution to private operators. It can’t say what they owe

LEC has supplied electricity in Maryland, River Gee, and Grand Gedeh through a private operator, LIBENERGY, since March 2023, and Nimba and Bong through a second operator, JEP. GAC found no revenue meters installed at LIBENERGY’s input points and no evidence it has ever paid LEC a revenue share.

A JEP check meter has been damaged for three years. None of this revenue or any related receivables appear on LEC’s own financial statements.

A fisheries project overspent by $3.6 million. Then it paid its coordinator’s rent

NaFAA’s Liberia Sustainable Management of Fisheries Project (LSMFP) spent $3,628,386.32 more than its approved budget, with no supplementary approval or World Bank no-objection on file. $36,000 was paid directly to the Project Coordinator, recorded as “rent.”

A separate $16,272 in project funds went to private security guards at the NaFAA Director General’s residence, which GAC classified as ineligible and ordered repaid.

Liberia’s audit opinion improved. The 2023 books still show $96.1 million spent without approval

GAC’s opinion on the national Consolidated Fund moved from Adverse (FY2023) to Qualified (FY2024), per MFDP’s own August 2025 statement. The FY2023 management letter found $96,137,404.18 spent by ten agencies beyond their approved budgets.

The National Security Agency alone overspent by $56,103,109.50. The Ministry of Finance and Development Planning itself overspent its own approved budget by $28,042,516.18.

A new fisheries project passed its audit. $5,517 in payments still have no paperwork

LIFSSP, a new NaFAA program, got a clean opinion on its first partial-year financial statements. The management letter found four payments totaling $5,517 with no invoices, receipts, or delivery notes, including $3,175 to a shopping center with no description of what was purchased.

Management submitted documents after the audit; GAC’s position is that producing paperwork after the fact doesn’t establish the controls were working when the money went out.

NaFAA paid a global NGO $2 million upfront. Nothing was held back

NaFAA’s fisheries project paid Conservation International the full $2 million grant in one payment, with no performance guarantee, against the project’s own three-tranche disbursement rule.

A separate $40,000 unauthorized transfer inside the same grant was caught and reversed by NaFAA’s own team before this audit even happened.

Last year’s audit gave 55 recommendations. This year’s check found 42 untouched

GAC’s 2024 audit of NaFAA’s LSMFP issued 55 recommendations across 14 findings. This year’s follow-up found 5 fully implemented, 8 partially implemented, and 42 not implemented at all.

The same audit found $481,264.83 in new payments across 17 transactions with no adequate supporting documentation, the same gap flagged the year before, now larger.

A forestry project spent $894,659. More than half has no paperwork

TSFFAPA, a Forestry Development Authority project funded through the African Development Bank, spent $894,659 in the audited year. GAC found $511,662 of that, more than 57 percent, has no adequate supporting documentation.

The largest piece: 24 nearly identical $6,510 travel payments, $156,230 combined, with no travel settlement forms or trip reports ever filed.

Teachers were left unpaid, or paid only part of their salary

The Ministry of Finance said publicly that 2,000 teachers outside the Monrovia school system had account problems blocking payment, and that 200 teachers inside it received only 20% of their salary — the remaining 80% had not been posted by their bank.