Home Governance Boakai Worth US$970,000… Finally Publishes His Declared Assets

Boakai Worth US$970,000… Finally Publishes His Declared Assets

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By: Varney Dukuly, From Ghana

MONROVIA: President Joseph Nyuma Boakai has publicly declared and published his income, assets, and liabilities following months of vehement calls by citizens, civil society and pro-Transparency groups and the media across the country.

This ‘unprecedented move’ by President Boakai, commentators said, marks a significant milestone in Liberia’s history, as previous presidents of the country have often failed to disclose their assets and liabilities upon assuming office.

“I, Joseph Nyuma Boakai Sr., solemnly declare that all information I have provided herein is true, complete, and correct to the best of my knowledge,” Boakai stated in his oath of asset declaration to the Liberia Anti-Corruption Commission (LACC).

The LACC, an anti-graft institution, is responsible for investigating allegations of corruption in public offices and has the power to prosecute suspected corrupt officials. LACC stated that this July is the last month for all public officials to declare their assets, according to the laws of Liberia.

According to his asset declaration form, Boakai assumed the Liberian Presidency with a net worth of US$970,419.60.

The former vice president, now President of Liberia, could potentially become a millionaire by his next asset declaration in three years.
Before becoming president, Boakai served as vice president of Liberia for twelve consecutive years, receiving annual budgetary allotments.

During his tenure as vice president, then, his budget increased from one million to just over two million dollars per year, according to budget records.

In the 2016/2017 budget year, the last year Boakai served as Vice President, he earned a mouthwatering US$2.4 million.

Since leaving the vice-presidential office, Boakai has amassed significant income from his gross salary, rental properties, and co-ownership in various assets.

As of January 2024, Boakai’s total annual income was US$43,400.47, less than his net worth.

His public assets declaration, released on Friday, June 21, 2024, revealed that his total real property assets in cash, valued US$766,391.07, with the bulk of the money coming from commercial and residential properties.

The Liberian government allocated over US$9m for the President’s office in the 2024 fiscal budget, managed by the Ministry of State for Presidential Affairs.

This budget is intended to address issues the President may encounter in the discharge of his duties.

Minutes after the President published his assets, the Executive Mansion indicated that the move was part of President Boakai’s unwavering commitment to transparency and his aversion (dislike) for corruption and graft.

“Transparency not only strengthens public trust but also underscores unyielding dedication to rooting out corruption and fostering a climate of openness and accountability,” the Liberian Chief Executive declared.

The President hoped that by continuing to champion transparency and ethical conduct, his actions would serve as a beacon of hope and inspiration for all Liberians.

He emphasized that this new era of responsible and conscientious leadership is committed to the nation’s well-being.

Boakai stated that his action fulfills his commitment to upholding the Constitution and laws of Liberia and his dedication to fostering a culture of accountability, integrity, and good governance.

He believes that by making his asset declaration public, he sets a compelling example for public officials and citizens alike, highlighting the importance of accountability and ethical leadership.

Following the President’s example, Vice President Jeremiah Koung also published his assets, stating: “In pursuance of the President’s lead, I’m publishing my assets declared to the Liberia Anti-Corruption Commission on February 23, 2024.”

The Vice President emphasized that this effort supports the President’s agenda to restore the rule of law, captured in the ARREST agenda for national development.

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