Large-scale financial assets belonging to President Ellen Johnson Sirleaf and some family members are stationed in foreign banks than the country she has ruled for more than a decade.
According to the President’s declaration form filed with the Liberia Anti Corruption Commission in June this year, she has US$924,623 seated in banks in the United States of America compared to US$59,710.72 and a little over one million Liberia dollar deposited in Liberian bank.
For months there has been no explanation from the office of the President with respect to justification why the first family prefer saving income abroad than in home country after almost 12 years in power.
These people are seeking financial security of their assets after the collapse of their regime, Mambu James Kpargoi, a student of international criminal law based in the Netherlands said in a emailed statement.
“This is how Africa has been losing billions to the developed world. These people don’t have confidence in the country after leaving power. As seen in other African countries, they fear being prosecuted and and assets seized after they leave power.”
According to the presidency website the President had said the assets of family members on foreign soil are clear and subject to the stringent laws of the host country. Countries.
As declared with the LACC the President’s aggregate wealth is placed at US$1,707,279.64. The breakdown include: L$1,645,500 as gross salary and US$72,000 in allowances; US$49,933.76 in personal checking account at IB Bank, EJS Farm accoun at IB Bank has a balance of L$379,502.20 , EJS personal Account: L$630,363.31 and a saving account with a balance of US$9,777.72.
In foreign accounts, President Sirleaf has savings with Bank of America in Charlotte, North Carolina in the tone of US$153,006.00 and a UNFC account has a balance of US$7,300.
For treasury bills or investment in securities, President Sirleaf recorded having US$704,314.00 with Vanguard Mutual Funds in Valley Forge, Pennsylvania and US$61,003.00 with American Funds, Los Angeles in California.
Real estate, President Sirleaf valued her current residence – a one storey building with a swimming pool and a palavahut at US$164,100. She also owns a bungalow which contains a boys quarters, palavahut and an external kitchen at Corina Park, Congo Town, valued at US$117,300; a compound with two concrete buildings in Congo Town worth US$103,000.00; a vacant family plot on Broad Street worth US$50,000; a US$77,411 residential property in Caldwell, Bushrod Island; a structure on Benson Street valued at US$44, 016; a US$56,800 bungalow on Congo Town back road. A vacant 513 acres of land in Todee District which she valued at US$51,300 and four acres of vacant land in Paynesville city.