Liberia: LTA Accounts Frozen

Mergers, Acquisitions and Financial Results

The Executive Mansion yesterday said President Ellen Johnson has ordered a full investigation into all standing contracts between the Ministry of Public Works and construction companies in the country, and directed all current and former officials of the Ministry of Public Works to cooperate fully with the investigation.

Aside ordering investigation into all contracts, President Sirleaf has frozen the accounts of the Liberia Telecommunications Authority (LTA), and suspended the US$1 million lease agreement between LTA and a Chinese company, Qinjian International, for a building it intends to secure as an office.

The decision which followed a meeting with Public Works officials is aimed at ensuring that Government gets the full value for money spent, the statement under the signature of Press Secretary Jerolinmek Piah said.

At the same time, President Sirleaf has accepted, with immediate effect, the resignation of Deputy Public Works Minister for Technical Services, Mr. Victor Smith., and has directed him to remain in country and cooperate fully with the investigation.Source: The New Republic Liberia