https://frontpageafricaonline.com/opinion/press-release/liberia-nocal-ex-ceo-addresses-money-laundering-allegations-asserts-transparency-in-headquarters-construction-procurement/

Monrovia – The former Chief Executive Officer of the National Oil Comapany of Liberia (NOCAL), Cllr. Safaua Mai Gray, has responded to recent allegations of money laundering and corruption leveled against the organization, providing detailed insights into the procurement process that led to the disbursement of funds to BMC Group Inc. and subsequent deposit into Sapele International Bank (SIB) Liberia Limited.

Cllr. Gray clarified BMC Group Inc. company as payment for the ongoing construction of the seven-storey corporate headquarters of NOCAL.

According to her, the process leading to the awarding of the contract was legitimate and transparent. Gray emphasized that NOCAL’s 2023 budget, duly approved by the Board and in alignment with the Public Procurement and Concessions Commission (PPCC) guidelines, allocated funds for the purchase of land and the commencement of the headquarters’ construction.

The procurement plan, following approval by the PPCC, underwent meticulous scrutiny, culminating in the selection of BMC Group Inc. through an exhaustive process. The contract, signed on July 13th, 2023, preceded the issuance of the first check to BMC Group Inc. on the 17th of July, 2023. This timeline contradicts allegations that funds were disbursed without a contractual agreement in place.

Furthermore, the decision to advise BMC Group Inc. to open an account at SIB was rooted in prudent financial planning. The organization was negotiating with the bank for a potential loan to safeguard against any financial constraints that might arise during the project’s execution. Contrary to accusations of illicit money laundering, the funds deposited into the SIB account were intended for legitimate project expenses associated with the construction of NOCAL’s headquarters.

Timothy Kudar Jarry, Chairman of NOCAL, reaffirmed the adherence to established protocols and the transparency of the procurement process. He underscored the significance of the project in advancing NOCAL’s operations and emphasized the progress made, with the headquarters’ construction nearing 40% completion.

The former administration has expressed readiness to cooperate fully with the Liberia Anti-Corruption Commission (LACC) investigation.