LEITI REACTS TO RECENT GLOBAL WITNESS REPORT
May 12, 2017
The Multi-Stakeholder Steering Group (MSG) of the Liberia Extractive Industries Transparency Initiative (LEITI) has reacted to a recent Global Witness report alleging illegality of all large contracts in the forestry sector and violation of other laws including the LEITI Act.
The recent Global Witness report on Liberia titled Holding The Line, is built on LEITI’s Beneficial Ownership Disclosure report as well as previous LEITI Reconciliation reports and alleges, among others, the existence of additional names behind the ownership of some forestry companies operating in Liberia which were not disclosed to the LEITI during the preparation of the Beneficial Ownership Disclosure report.
It can be recalled that LEITI released a Beneficial Ownership Report in December 2015 containing the names and particulars of beneficial owners (true owners) or people who have at least five percent shares in companies operating in the mining, oil, forestry and agriculture sectors of Liberia. The Multi-stakeholders Steering Group (MSG) of the LEITI considers these allegations contained in the Global Witness’ report that some companies in the forestry sector have made false declarations about their beneficial owners as serious and grave.
The report further declares that some companies operating logging concessions have persistently failed to pay the taxes they owe the government, in some cases, for eight years. “Companies currently owe Liberia a total of US$ 25 million – nearly five percent of the country’s entire budget.” The report alleges.
Owing to the gravity of the allegations as proffered by the Global Witness report, the MSG has drawn the attention of the President, H.E. Madam Ellen Johnson-Sirleaf, to the report and called on the Government, through the presidency, to take appropriate actions aimed at addressing the issues and allegations made by Global Witness.
The oversight body of the LEITI, which comprises civil society, the private sector and supervisory ministries and agencies, therefore, encourages the international watchdog group and other relevant partners to support efforts of the government to strengthen integrity in the management of the country’s natural resources.
About LEITI
The Liberia Extractive Industries Transparency Initiative (LEITI) is a part of the Extractive Industries Transparency Initiative (EITI) - the global Standard that promotes revenue transparency in the extractive sectors in resource rich countries. It strives to ensure transparency over payments made to and revenues received by the Government from companies in the forestry, agriculture, mining and oil and gas sectors. Back to home page
The recent Global Witness report on Liberia titled Holding The Line, is built on LEITI’s Beneficial Ownership Disclosure report as well as previous LEITI Reconciliation reports and alleges, among others, the existence of additional names behind the ownership of some forestry companies operating in Liberia which were not disclosed to the LEITI during the preparation of the Beneficial Ownership Disclosure report.
It can be recalled that LEITI released a Beneficial Ownership Report in December 2015 containing the names and particulars of beneficial owners (true owners) or people who have at least five percent shares in companies operating in the mining, oil, forestry and agriculture sectors of Liberia. The Multi-stakeholders Steering Group (MSG) of the LEITI considers these allegations contained in the Global Witness’ report that some companies in the forestry sector have made false declarations about their beneficial owners as serious and grave.
The report further declares that some companies operating logging concessions have persistently failed to pay the taxes they owe the government, in some cases, for eight years. “Companies currently owe Liberia a total of US$ 25 million – nearly five percent of the country’s entire budget.” The report alleges.
Owing to the gravity of the allegations as proffered by the Global Witness report, the MSG has drawn the attention of the President, H.E. Madam Ellen Johnson-Sirleaf, to the report and called on the Government, through the presidency, to take appropriate actions aimed at addressing the issues and allegations made by Global Witness.
The oversight body of the LEITI, which comprises civil society, the private sector and supervisory ministries and agencies, therefore, encourages the international watchdog group and other relevant partners to support efforts of the government to strengthen integrity in the management of the country’s natural resources.
About LEITI
The Liberia Extractive Industries Transparency Initiative (LEITI) is a part of the Extractive Industries Transparency Initiative (EITI) - the global Standard that promotes revenue transparency in the extractive sectors in resource rich countries. It strives to ensure transparency over payments made to and revenues received by the Government from companies in the forestry, agriculture, mining and oil and gas sectors. Back to home page
