MONROVIA – President Joseph Nyuma Boakai has suspended the President/CEO of the National Oil Company of Liberia (NOCAL), Rostalyn Suakoko Dennis, amid explosive allegations of corruption involving an inflated $75,000 SUV purchase and misuse of public funds.
Madam Dennis has been directed to relinquish all government properties in her possession to an interim team led by Fabian Michael Lai, NOCAL’s Vice President for Operations, who will oversee the company’s operations until further notice. The move underscores the government’s pledge to uphold transparency, accountability, and good governance, especially in the management of the nation’s natural resources.
Allegations of Corruption Emerge
The suspension follows allegations that Dennis authorized the inflated purchase of an MG 2024 RX8 SUV for $75,000, despite dealership records showing a duty-paid price of $45,000. The $30,000 discrepancy has fueled accusations of financial mismanagement and abuse of public funds. Furthermore, Dennis is alleged to have arranged for a kickback from the transaction. When a direct cash payment was refused due to tax implications, she reportedly acquired a second vehicle, valued at $30,000, which was subsequently registered under her private company, “Tanti.”
The scandal also raised questions about the necessity of the purchase, as Dennis’ predecessor had reportedly procured a new vehicle for the CEO’s office in 2023, in compliance with Liberia’s three-year vehicle procurement regulation for government officials.
Adding to the controversy, Dennis reportedly replaced office furniture in her first months in office, despite the previous setup being recently updated under her predecessor. Critics have described these actions as wasteful and indicative of broader financial mismanagement at the state-owned enterprise.
Broader Implications and Investigation
Investigations suggest that other NOCAL officials may have been complicit in the fraudulent activities. Comptroller Richmond Jallah and Internal Auditor Markanue Dainsee are accused of colluding with Dennis in orchestrating and covering up the scandal. However, the Vice President for Finance, Emmanuel Azango, reportedly opposed the deal, while the Vice President for Administration, Boakai Jaleiba, was allegedly excluded from discussions.
These developments have drawn parallels to the resignation of former Commerce Minister Amin Modad, who stepped down in October 2024 over a similar vehicle procurement scandal. The recurring nature of such incidents has raised concerns about systemic corruption and the need for stricter oversight in Liberia’s public sector.
Political Fallout
Critics, including prominent activist Martin Kollie, have questioned Dennis’ initial appointment, citing her controversial legislative tenure and electoral defeat in 2023 as evidence of her unsuitability for the role. Kollie also alleged that Dennis misappropriated NOCAL’s Corporate Social Responsibility funds for personal political gain.
Dennis has denied the allegations, asserting that the accusations are politically motivated and pledging her full cooperation with any investigation. She has invited Liberia’s General Auditing Commission to conduct a comprehensive audit of NOCAL’s finances during her tenure.
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