Monrovia, May 19, 2026: Former Liberian Ambassador to the United Nations, Nathaniel Barnes, has rejected allegations in a recent Sentry report that named him as Chairman of the Board of Directors of Pan African Real Estate Company (PAREC)—the firm reportedly managing Pan African Plaza, currently occupied by the United Nations in Monrovia.
The Sentry’s report claims that Barnes, who served as Liberia’s Finance Minister in 2002 under the Charles Taylor regime, appears on PAREC’s corporate documents as chairman.
However, following the report’s publication on Friday, May 15, Barnes told this paper he had no involvement with PAREC or the Pan African Plaza.
“I have zero interaction. I don’t recall signing any paper as chairman in my capacity as Minister of Finance in 2002. I never went around that building,” Barnes stated.
He further denied the Sentry’s claim that he was contacted but did not respond, saying, “No one from Sentry ever contacted me.” Barnes also refuted the report’s assertion that he is on any economic crime list, insisting, “I am not on any economic crime list.”
Barnes clarified that his only interaction with Libyan representatives was during negotiations over the Ducor Hotel, and this was solely in his capacity as Finance Minister at the time.
The Sentry, an organization that tracks Libyan assets, claims in its latest report that more than US$50 million has been paid over nearly two decades to a company whose ownership and legal status remain unclear.
The Pan African Plaza is an office building reportedly constructed in the 1980s with Libyan funding. In 2004, the United Nations Mission in Liberia negotiated a lease for the property at an annual rent of about US$2.8 million.
By December 2023, total payments had reportedly exceeded US$50 million, though it remains unknown who ultimately benefited from the funds.
According to the Sentry report, rent was paid to PAREC, despite the Libyan Liberian Holding Company (LLHC) being listed as the apparent owner.
The LLHC was dissolved by the Liberian Government in 2015, raising further uncertainty over the building’s ownership.
Additional concerns stem from irregularities in PAREC’s corporate records: while the company’s business registration certificate was reportedly issued in 1982, the LLHC had been formed by decree four years earlier, and PAREC’s articles of incorporation were restated in 2000—creating further questions regarding the firm’s authority.
The Sentry also notes that PAREC appeared on LAICO’s investment list until mid-February 2026, suggesting ongoing Libyan connections. Writes Othello B. Garblah
