The Speaker of the 55th Legislature, Cllr. J. Fonati Koffa, has made public his assets declaration as part of what he describes as his “unwavering stand for transparency and aversion to corruption and graft.”
The Speaker has since declared his assets to the Liberia Anti-Corruption Commission (LACC) on February 19, 2024.
The Speaker said in a statement on Wednesday, June 26, that his action is in fulfillment of his commitment to upholding the Constitution and laws of Liberia, in addition to his dedication to fostering a culture of accountability, integrity, and good governance.
By making his assets declaration publicly available, the head of the 55th Legislature said, he is setting a compelling example, emphasizing the importance of accountability and ethical leadership.
The Speaker added that his move underscores his transformative and reformed vision for the Legislature, where he intends to ensure that honesty and integrity form the bedrock of governance and where the principles of lawmaking and oversight are key to the nation’s progress.
As per the declared assets, Speaker Koffa’s net worth is US$3,900,729.47, plus L$76,568.15. He declared more than US$2.8 million in real property; securities worth US$281,000 with Wells Fargo and another US$400,000 cash in US-based banks; an annual income of US$204,600.00 and US$120,000 in cash. He also declared a US$500,000 loan from Guaranty Trust Bank with a 60-month term of payment and Vehicle obligations worth US$77,000.
The Speaker furthered that his decision to disclose his assets clearly demonstrates his belief in leading by example and his determination to demonstrate the highest standards of integrity.
The Speaker urged lawmakers from the 55th Legislature to emulate his example and make their assets public.
Full disclosure of the Speaker’s assets can be found on pages 6 and 7 of this edition.
