Liberia: Busted

Aug 4, 2014 | AllAfrica
View Original

Reviewing the books, financial records and transactions of the National Oil Company of Liberia (NOCAL), the country's supreme audit institution, the General Auditing Commission (GAC), has raised a number of questionable financial transactions between the oil company and TGS-NOPEC.

The Commission said it noted that with the exception of a revenue summary dated July 2008 to August 2011, NOCAL's management failed to provide documents on transactions that took place between it (NOCAL) and TGS, which therefore should be in the possession of NOCAL, as per the agreement.