Liberian President Joseph Boakai has suspended Rustonlyn Suacoco Dennis, the chief executive officer of the National Oil Company of Liberia (NOCAL), following corruption allegations.
In a statement released on Saturday, February 8, President Boakai announced that the decision was based on recommendations from NOCAL’s Board of Directors. He directed Dennis to hand over all government property in her possession to an interim team led by Fabian Michael Lai, the company’s Vice President for Operations.
Boakai emphasized that an official investigation has been launched, reaffirming his administration’s commitment to transparency, accountability, and good governance.
Allegations of Financial Misconduct
NOCAL, which is responsible for overseeing petroleum exploration, development, and production in Liberia, is at the center of the controversy.
Local media reports claim Dennis used company funds to acquire a vehicle but inflated its cost in financial records. Allegedly, the purchase price was recorded as $75,000, while the actual cost was only $45,000. Reports further suggest she attempted to persuade the dealership to adjust the price to match the inflated figure, but they refused.
Instead, it is alleged that Dennis used the excess $30,000 to purchase a second vehicle, which was registered under her private company, Tanti Group, a sanitation services business. This resulted in one vehicle being listed under NOCAL and the other under her personal enterprise.
Liberia’s Anti-Corruption Commission has begun an inquiry into these transactions, which reportedly took place between July and December 2024.
Further Investigations
On February 4, 2025, the Anti-Corruption Commission issued a summons to Dennis, citing additional allegations, including her role in awarding a $585,000 consultancy contract to West Africa Geo-Services (WAGS). She is accused of authorizing a $300,000 payment to WAGS without adhering to public financial management regulations.
Investigators are also examining claims that Dennis mismanaged corporate social responsibility (CSR) funds, allegedly using thousands of dollars from NOCAL’s budget to reward political supporters in her home district in Montserrado County.
Denial of Allegations
Liberian activist Martin Kollie recently brought these alleged financial irregularities to public attention. In response, Dennis took to social media on February 3 to deny the claims, stating that her official vehicle cost $42,000, not $75,000. She also defended the purchase of additional vehicles, arguing they were necessary for operational needs.
A former member of Liberia’s parliament, Dennis maintains that purchase approvals at NOCAL require multiple signatories, suggesting she did not act alone in financial transactions. Despite her denials, the investigation into her actions is ongoing.