Over the last several weeks, the airwaves in Liberia (radio), the traditional media (newspapers) and pages of the new media (Internet) have all been inundated with reports of the Liberian Government’s mishandling of US$8 or US$8.5 million bailout for the Sapelle International Bank Liberia Limited (SIBLL). The government’s critics some of whom are ardent and avowed supporters of the regime, have been critically criticizing the government’s handling of the revival of the bank.

The Ghanaian businessman, Dr. Paa Kwesi Ndoum’s SIBLL had gone into some legitimate deals with the Central Bank of Liberia so that depositors’ monies were saved, and that the nation’s financial sector is still recognized as being stable and alright. This deal was reached when SIBLL’s predecessor, First International Bank Liberia Limited (FIBLL), had run into some problems and was facing eminent closure.

The CBL, being the regulator with the statutory responsibility to oversee all banking institutions in the country, had to step in to save the sick bank and to make Liberians and world still having faith in the nation’s financial sector.

The politics surrounding this financial transaction was firstly brought to the public glare by former President George Manneh Weah when he addressed the nation through a press conference he held in July at his Coalition for Democratic Change (CDC) headquarters in Monrovia.

Amidst this controversy as to whom granted the US$8.5 million bailout of SIB Bank Liberia Limited, a leak document in the possession of this newspaper, tells how the bailout process began as far back in 2020, with the Administration of former President George Manneh Weah, but negotiations continued into the Administration of President Joseph Nyuma Boakai.

However, a communication to by the Central Bank of Liberia on the bailout unveils how President Boakai was fully briefed on how the negotiations started between the Central Bank of Liberia, SIBLL and the Executive Mansion on processes leading to the final bailout.

IPNEWS understands that lengthy discussions were held in Accra, Ghana, between President-elect Joseph Nyuma Boakai and Dr. Paa Kwesi Nduom, owner of SIB Bank in the presence of his soon-to-be counterpart Ghanaian President Nana Addo Dankwa Akufo-Addo, in late December 2023.

 IPNEWS also understands that a follow-up meeting was held with Liberia’s Vice President Jeremiah Kpan Koung and Dr. Paa Kwesi Nduom at the famous Nduom Resort in early February 2024.

When the former President spoke to the nation from his party headquarters, he played politics with the deal making it look like it was Boakai who started everything and that it didn’t begin with him.

We think that the process of governance should be done with truth-telling no matter what. Liberians should not have to be speculating when people who primarily live on their sweat and blood will be perambulating and be on showmanship and grandstanding at their detriment. You people should provide the bits and pieces of information and stop playing stupid politics with peoples’ lives. This needs to stop now.