Amidst the economic hardship and extreme poverty overwhelming the country, the Minister of Commerce and Industry in the Boakai administration, Amin Modad, is allegedly championing the waste of public resources and showcasing financial indiscipline, bragging that he has been a successful businessman for more than 25 years who has owned boats, beautiful homes and luxury cars for decades before becoming a minister of government.
In the wake of justifying the purchase of a 2024 Chevy Suburban, reportedly valued at over US$100,000 from funds allocated by the Liberia Revenue Authority (LRA) for the Ministry of Commerce through the Customs Capacity Building Fund under the Destination Inspection (DI) Contract held with MEDTECH Scientific Limited (MTS), Modad claimed that all documentation linked to the vehicle [bought to support the revenue generating functions of the ministry] bares the name of the Ministry of Commerce & Industry, and owned by the Government of Liberia (GOL).
However, the minister felt short of revealing that he is the one driving the vehicle in question and, in fact, the funds used to purchase the vehicle was meant to buy several vehicles for use by the ministry’s revenue-generating arm of the ministry, and not only one vehicle for his use.
This information was confirmed by the clarification provided by the Liberia Revenue Authority (LRA), in which it confirms the approval of the MOCI’s request for US$96,000 from its Customs Capacity Building Fund under the Destination Inspection (DI) Contract held with MedTech Scientific Limited (MTS) for the purchase of vehicles to support the MOCI. “These vehicles are intended for trade-related activities in collaboration with customs. The specifications of the vehicles, as well as their deployment within MOCI, are determined by the MOCI, not the LRA,” the LRA clarification noted.
In addition to the vehicle allegation, Modad also reportedly purchased a yatch (boat). According to sources, the motor vessel is already in active use, after Modad paid the required duties to release it from the Freeport of Monrovia.
The LRA also confirmed Modad bringing in the yacht (boat) in July 2024, but clarified that they did not grant him duty-free clearance; instead, he paid all the funds required for its release.
Margibi County’s Senator, Nathaniel F. McGill, accused Minister Modad, who served as a board member of the First International Bank (FIB), of failing to settle a debt of US$400,000 owed the former FIB (now SIB), allegedly contributing to the bank’s bankruptcy. According to Senator McGill, Modad was able to acquire a yacht comparable in cost to the one purchased by former President William V.S. Tubman.
Senator McGill vowed that, on Tuesday, September 24, 2024 he would submit a formal communication to the Senate plenary for the Liberia Anti-Corruption Commission (LACC) to launch an immediate investigation into allegations of fraud, abuse of power, and corruption involving the Minister of Commerce.
However, instead of showing remose, Modad said his integrity is intact and his commitment is unwavering, claiming that “despite the false narratives and deceptive posts from few who survive on discord, crisis and the distress of others, some people in our society just enjoy badnews and to see others fall”.
But the Economic Freedom Fighters of Liberia (EFFL) has called for the immediate investigation into the purchase of the luxury vehicle by Minister Amin Modad, stating that public corruption must stop immediately.
“This acquisition raises serious questions, and the EFFL condemns the on-going abuse of power and influence within certain leadership circles. The sacrifices and collective struggles of the Liberian people cannot continue to be manipulated for personal gain by individuals in positions of influence,” the EFFL stated in a press statement.