Liberia: GAC Audit Reveals Nafaa Overspent U.S.$3.6 Million Beyond Approved Budget – but Management Denies Allegations

Monrovia — The National Fisheries and Aquaculture Authority (NaFAA) spent over US$3.6 million beyond its approved budget for the “Sustainable Management of Fisheries Project,” according to a recent audit by the General Auditing Commission (GAC).

The GAC report states, “During the audit, we observed that management expended US$3,628,386.32 in excess of its approved budget without evidence of a supplementary budget or a no objection from the Bank.” These findings are from the audit of the Liberia…