Liberia News: BSE Enforces Presidential Mandate
On Asset Declaration, Suspends Non-Compliant SOE Officials
Monrovia-The Bureau of State Enterprises (BSE) has begun the strict enforcement of President Joseph Boakai’s mandate requiring state-owned enterprise (SOE) officials to declare their assets with the Liberia Anti-Corruption Commission (LACC).
By Jamesetta D Williams
Monrovia-The Bureau of State Enterprises (BSE) has begun the strict enforcement of President Joseph Boakai’s mandate requiring state-owned enterprise (SOE) officials to declare their assets with the Liberia Anti-Corruption Commission (LACC).
The directive, aimed at increasing transparency and accountability in public institutions, has led to the suspension of 127 SOE officials who failed to comply.
Speaking at a press briefing held at the Ministry of Information, Cultural Affairs, and Tourism, Arthur Siaka Massaquoi, Director General of the BSE, emphasized the administration’s determination to uphold good governance principles and combat corruption.
In adherence to the President’s mandate, the BSE has formally instructed SOE heads to withhold the salaries and benefits of all non-compliant officials starting February 2025. These funds will be deposited into the government’s Consolidated Revenue Account, with transaction records submitted for verification,” Hon. Massaquoi stated.
Following an extensive compliance review conducted in partnership with the World Bank, the BSE identified 316 officials across 27 SOEs who were required to declare their assets. Among them, 189 officials complied, while 127 failed to do so and are now subject to suspension.
Some SOEs demonstrated full compliance, including the Liberia Maritime Authority (LMA) and the National Lottery Authority (NLA). However, others, such as the Liberia Electricity Corporation (LEC) and National Social Security & Welfare Corporation (NASSCORP), had a large number of non-compliant officials.
A breakdown of non-compliance in key SOEs includes Liberia Electricity Corporation (LEC): 6 compliant, 24 non-compliant National Social Security & Welfare Corporation (NASSCORP): 14 compliant, 23 non-compliant
National Port Authority (NPA): 6 compliant, 10 non-compliant Liberia Petroleum Refining Company (LPRC): 9 compliant, 4 non-compliant ,Liberia Telecommunications Corporation (LIBTELCO): 6 compliant, 9 non-compliant
Hon. Massaquoi issued a stern warning to all non-compliant officials, stressing that the government will not tolerate violations of the asset declaration mandate.
“The BSE will continue to monitor compliance and take necessary actions against defaulters. The President’s directive is clear—accountability is non-negotiable,” he warned.
He urged officials who have not yet declared their assets to do so immediately to avoid further penalties.
The enforcement of this mandate marks a significant step in Liberia’s fight against corruption. By holding public officials accountable, the government aims to foster a culture of transparency, integrity, and responsible governance within SOEs.
The BSE has assured the public that it will continue to provide updates on the compliance process and ensure that all SOEs strictly adhere to corporate governance regulations.
For now, the fate of the 127 suspended officials remains uncertain, as the government stands firm in its commitment to clean governance and accountability in Liberia.
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