Executive Mansion, Monrovia - In an effort to restore credibility, accountability, and transparency in the governance process, H.E. President Joseph Nyuma Boakai has issued Executive Order #126, effective immediately, for the retrieval and recovery of national assets. 

The order establishes an Assets Recovery Task Force and an Office under the Minister of State for Special Services, mandated to put into place the necessary legal framework for the recovery of assets wrongfully acquired by current and former government officials. President Boakai stated that the order is issued with the intent to retrieve, recover, restore, and reinstate fixed and liquid assets from within and outside Liberia that have been converted to private use by unscrupulous government officials and employees who were placed in positions of trust. The decision aims to address the alarming trend of officials converting public assets to private use while in positions of power. 

The Task Force is authorized to retrieve wrongfully acquired government assets, identify and trace all stolen and suspicious assets within and outside Liberia, establish an investigative panel, and constitute an effective legal, research, and investigative team to procure tangible evidence. It is also required to initiate criminal prosecution and civil litigation on behalf of the Government, return confiscated assets to Liberia upon adjudication, and place travel and other restrictions on all individuals identified as suspects while undergoing investigation for stolen and suspicious assets. 

The Task Force is urged to employ diplomatic, and Interpol means to extradite individuals identified as suspects who are outside Liberia's jurisdiction and bring them under the investigative team's jurisdiction. 

President Boakai also emphasized that the Task Force should retrieve assets from private individuals who have illegally purchased government assets. 

The Ministry of Finance and Development Planning is mandated to allocate and disburse funds according to the budget presented for the full implementation of this exercise, effective immediately. 

The Executive Order states that the Task Force will consist of a chair and co-chair and have the full cooperation of the General Services Agency, the Ministry of Justice, and all security agencies. President Boakai stated that issuing the Executive Order is imperative to avoid the lengthy legislative process that could derail the asset restoration process, considering the gravity of the situation and the need to immediately restore lost assets to ensure economic viability and development.

 He emphasized that it is paramount that public assets illegally obtained and converted to private use be retrieved and returned to the Liberian people, and that the perpetrators be brought to justice by appropriate laws that provide for confiscation through criminal investigation and legal prosecution.

Executive Order #126 is the first Executive Order issued by the President since he assumed office on January 22, 2024,