- Search Results
 
 
Senator Cooper Blames NOCAL Ordeal.....
Date Uploaded: Sep 10, 2015

 Margibi County Senator Oscar Cooper 

 

 

Senator Cooper Blames NOCAL Ordeal On Govt., Legislature
By Wilfred Gortor, LINA

MONROVIA, September 9 (LINA) - Margibi County Senator Oscar Cooper has said the financial crisis at the National Oil Company of Liberia (NOCAL) should be the “collective responsibility” of the entire government, including the National Legislature.

“We ourselves must also take the responsibility,” he said during the second day Extraordinary Sitting of the Fourth Session of the 53rd Legislature at the Capitol Building Tuesday.

According to Cooper, the National Legislature has oversight responsibility to ensure check and balance within all state-owned public corporations for transparency and accountability in their operations.

He regretted that this was, however, not the case with NOCAL, thereby resulting to the financial crisis that adversely led the oil rich entity to bankruptcy.

He then suggested that a fiscal impact analysis be conducted by the Ministry of Finance and Development Planning (MFDP) to unveil what financial impact it will have on the government, if it provides funding for NOCAL.

For his part, Grand Gedeh County Senator Alphonso Gaye suggested that the government, through the Ministry of Finance, should provide funding for NOCAL so that it can continue operating.

The Grand Gedeh Senator’s statement was in support of a senate committee’s recommendation calling for the Finance Ministry to provide financial aid to NOCAL amidst the company’s current financial crisis.

Gaye maintained that NOCAL’s liabilities can only be paid by government since it is government-owned.

“MOF should render financial assistance to NOCAL, the company is a government entity; therefore it is the responsibility of the government to pay the company’s liabilities,” Gaye stressed.
LINA WSG/JGT/TSS/PTK

latest headlines
Judge Kaba Reserves Ruling In E.J. Roye Building Case
Judge Yussuf D. Kaba of the Civil Law Court has reserved ruling in a motion for Declaratory Judgment filed by some individuals calling themselves ...more
CENTAL Raises Eyebrow About Political Parties Spending
The Center for Transparency and Accountability in Liberia (CENTAL) has expressed concern over the expenditure of political parties on fleets of n ...more
LTA, Partners End Int’l Internet Workshop
The Liberia Telecommunications Authority (LTA) and partners have ended a two-day international workshop on ICANN (the Internet Cooperation for As ...more
Liberia To Host GIABA Plenary, Ministerial Meetings
Liberia will host the Intergovernmental Action Group against Money Laundering in West Africa (GIABA) 27th Technical Commission/Plenary and 17th M ...more
GOL, Sweden Sign US$21.6m Accord On Feeder Roads In 7 Counties
The Governments of Liberia and Sweden have signed a US$21.6 million agreement to support the third phase of the Liberia-Swedish Feeder Roads Proj ...more
Defense Ministry Relaxes Camp Ramrod Eviction
The Ministry of Defense has with immediate effect put on hold its notice of eviction to inhabitants of the 72nd Camp Ramrod Barracks in Paynesvil ...more
 
All rights reserved © 2013 - 2014
Liberia News Agency