-As President Boakai Suspends NOCAL CEO/Former Lawmaker
By Jerromie S. Walters
Monrovia – Liberia’s President Joseph Nyuma Boakai, Sr., on Saturday, February 8, 2025, suspended the President and Chief Executive Officer (CEO) of the National Oil Company of Liberia (NOCAL), Madam Rustolyn Suakoko Dennis, pending an investigation into unspecified allegations. The suspension took immediate effect, coming just a day after Madam Dennis marked her first anniversary at the helm of the national oil company.
The decision followed a resolution by the NOCAL Board of Directors, which recommended her suspension and called for a thorough investigation into the allegations. Madam Dennis has been directed to hand over all government properties in her possession to an interim leadership team headed by Mr. Fabian Michael Lai, NOCAL’s Vice President for Operations.
The Corruption Allegation
Rustolyn Suakoko Dennis, recently vehemently denied allegations of misusing public funds to purchase a luxury vehicle for US$75,000. The controversy erupted after leaked documents suggested that NOCAL authorized the withdrawal of US$75,000 for the purchase of an MG 2024 RX8 seven-seater SUV.
Dennis clarified that the vehicle in question was not acquired for the alleged amount. “The CEO is aware that the position is one of trust and carries sensitive information,” she said. “Therefore, a CEO will not ride in one car with her drivers, security, and staff. The CEO has a utility vehicle for errands and may use her official vehicle for official matters.”
She emphasized that all financial decisions at NOCAL are subject to rigorous scrutiny. “I do not sign cheques independently,” she stated. “All financial transactions are reviewed and approved by NOCAL’s Vice President of Finance. I will not cower to political pressure.”
Counterclaims
The scandal deepened when reports surfaced
that the vehicle was purchased for only US$45,000, raising questions about the missing US$30,000. Further investigations revealed troubling claims that Dennis allegedly sought a US$30,000 kickback from Cactus Motors, the dealership involved in the transaction. When the dealership reportedly refused, Dennis is said to have diverted a separate vehicle worth US$30,000, which was then registered under her private sanitation company, “Tanti.”
These allegations have drawn comparisons to a 2023 scandal involving former Commerce Minister Amin Modad, who resigned after being found guilty of misappropriating public funds for a personal vehicle purchase. Madam Dennis has expressed her willingness to undergo a full audit by Liberia’s General Auditing Commission (GAC) to investigate the circumstances surrounding the vehicle purchases. “I am committed to transparency and accountability,” she said. “I welcome any investigation to clear my name and restore public trust in NOCAL.” She was invited by the Liberia Anti-Corruption Commission days before her suspension.
Commitment to Transparency
The Government of Liberia has reiterated its commitment to transparency, accountability, and good governance, particularly in the management of the country’s natural resources. “The suspension is a necessary step to ensure that all allegations are thoroughly investigated,” a statement from the Executive Mansion read. “The government remains steadfast in upholding the highest standards of integrity in public service.”
A Political Resurgence Cut Short
Madam Dennis’ suspension marks a panoramic curve in her political and professional journey. A former Montserrado County District #4 Representative, she was defeated in the October 10, 2023, general elections by independent candidate Michael M. Thomas. Despite her electoral loss, she made a comeback when President Boakai appointed her as NOCAL’s CEO on February 7, 2024.
Her appointment was widely celebrated by women’s rights advocates and civil society organizations, who viewed it as a milestone for gender equality and women’s empowerment in Liberia. At the time, the Women NGOs Secretariat (WONGOSOL) praised President Boakai for recognizing Madam Dennis’ capabilities and for promoting women’s representation in leadership roles.
Legacy of Advocacy
During her tenure in the 54th Legislature, Madam Dennis earned a reputation as a fearless and vocal advocate. Known for her incisive debates on national budgets and critical issues, she was one of the few lawmakers who opposed the initial passage of the 2024 budget. Her outspoken nature and commitment to tough conversations made her a standout figure in Liberian politics.
However, her political career faced a setback when she lost her re-election bid, garnering 9,847 votes (17.74%) against her opponent’s 14,590 votes (26.28%). Despite this, her appointment to NOCAL was seen as evidence of he leadership qualities.
NOCAL: A Strategic National Asset
Established in April 2000 by an Act of the National Legislature, NOCAL is tasked with managing Liberia’s rights, titles, and interests in the country’s oil and gas resources. The company plays a pivotal role in facilitating the development of Liberia’s hydrocarbon sector, which has seen sporadic exploration activities over the past seven decades.
Liberia’s oil exploration history is divided into two eras: the legacy era, which included speculative and shelf-focused exploration, and the modern era, characterized by deep-water exploration and industry reform. To date, 17 wells have been drilled, primarily offshore in the Liberia Basin.
Interim Leadership and the Path Forward
With Mr. Fabian Michael Lai at the helm of NOCAL’s interim leadership, the focus will be on ensuring continuity in the company’s operations while the investigation into Madam Dennis’ conduct unfolds. The suspension has sparked widespread speculation about the nature of the allegations and their potential impact on Liberia’s oil sector.
The National Oil Company of Liberia (NOCAL) is responsible for managing Liberia’s hydrocarbon resources. Established in 2000, NOCAL oversees the exploration, development, and production of oil and gas in Liberia, aiming to harness these resources for national development.
