The Financial Intelligence Agency (FIA) has issued a 72-hour ultimatum to Metech Scientific here regarding the company’s failure to provide necessary operational information.
Despite questioning the FIA’s authority to request such information earlier, Metech Scientific has recently acknowledged the Agency’s legitimacy. However, the company remains hesitant to comply with the FIA’s demands.
This likely standoff has prompted the FIA to issue a 72-hour ultimatum, demanding that Metech justifies its failure to submit critical documents and data related to its operations in Liberia for the year 2024
According to a release from the Financial Intelligence Agency (FIA), Metech Scientific failed to meet the December 13, 2024, deadline to provide crucial information and documents regarding its operations in Liberia from January to December 2024.
The release notes that Metech Scientific also refused to honor a January 7, 2025, deadline, as outlined in the FIA’s communication to the company on December 18, 2024. This continued non-compliance has prompted the FIA to take a firmer stance, issuing a 72-hour ultimatum for the company to provide the requested information or face potential sanctions.
Meanwhile, the FIA has described the company’s actions as a defiant and willful disregard of its statutory powers, specifically referencing Section 67, Subsection 3.1 of the Financial Intelligence Act of 2021.
This section grants the FIA the authority to request and receive information to fulfill its functions. The Agency views Metech Scientific’s failure to comply with these requests as a violation of this legal framework, prompting the ultimatum for the company to justify its non-compliance.
The release, issued on January 15, 2025, and signed by Officer-In-Charge Mohammed A. Nasser, states: “You are hereby given 72 hours from the receipt of this communication to provide your response justifying why you should not be sanctioned. Failure to adhere to this communication, the FIA will exercise the most stringent administrative sanctions available per Section 15.3.29 of the Act of 2021.”
This ultimatum underscores the severity of the situation and the potential consequences for Metech Scientific if they do not comply.
On the other hand, several business groups in Liberia have criticized the 1.2% third-party engagement charge on imported commodities, imposed by Metech Scientific, calling it unfair and an additional financial burden.
These groups, including the Fula Business Association and the National Customs Brokers Association of Liberia, have expressed concerns about the negative impact this charge has on the cost of doing business in the country.
Meanwhile, a 10-year contract signed between the Coalition for Democratic Change (CDC)-led government of former President George Manneh Weah and Metech Scientific Liberia Limited has been criticized for gross violations of Liberia’s Public Procurement and Concession Commission (PPCC) and Public Financial Management (PFM) Laws. These violations are alleged to have led to the unofficial diversion of the country’s share of funds that should have been collected under the agreement, raising concerns about transparency and legality of the deal with the former administration.
