Liberian President Joseph Boakai has suspended the Governor of the Central Bank, Aloysius Tarlue, following an audit of the Apex by the General Auditing Commission.

According to information minister, Jerolinmek Piah, this decision comes after the release of an audit report which detailed significant financial irregularities at the Bank from January 1, 2018, to December 31, 2023.

The findings by the Auditing Commission show that the management of the Central Bank of Liberia exceeded approved expenditure limits from Fiscal Year 2018 to 2022 by approximately 19.31 million dollars.

Additionally, the audit found that approved budget expenditure projections consistently surpassed revenue projections, indicating a pattern of deficit financing.

Here is Information Minister Piah addressing the press on Tuesday.