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Mansion clarifies dissolution of LEC Board |
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Written by Wellington Geevon Smith
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Wednesday, 15 October 2008 |
The Executive Mansion has clarified what led to the dissolution of the Board of the Liberia Electricity Corporation and the removal of its non-statutory members.
Media reports had attributed the action of President Sirleaf to financial malpractices at the LEC.
The mansion clarified that the Board members were removed for failing to exercise effective oversight responsibility over operations at the LEC.
A statement issued by the mansion said this action resulted in the misapplication of the Revenue Accounts by the management of the corporation.
The amount in question is in the tune of nearly quarter of a million dollars, covering a six-month period between December 1, 2007 - May 23, 2008.
The revenue accounts are those into which all payments of electricity bills are deposited, in keeping with an understanding reached with partners supporting the Emergency Power Program.
Under the arrangement, withdrawals from the account were towards operations and maintenance costs, like fuel and spare parts.
The statement from the mansion said this was not the case, leaving the President with no choice but to dissolve the LEC Board and withdrew its non-statutory members.
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