-Amid U.S. sanction
In a startling turn of events, Monie Captan, the CEO and Board Chair of the Liberia Electricity Corporation (LEC), finds himself at the center of a growing controversy. Captan, a prominent figure in Liberia’s energy sector, is facing increasing calls for direct US sanctions following revelations about a controversial business deal with Nathaniel McGill, a figure sanctioned by the United States on August 15, 2022.
Captan, responsible for steering LEC through challenges in Liberia’s electricity sector, has come under scrutiny for knowingly entering into a joint venture business agreement with McGill’s LIBENERGY for Liberia’s Southeastern Power Grid Asset Management Agreement in April 2023.
The LEC Asset Management Contract Agreement was approved by Mr. Captain as the single authority to do so in the capacity of both CEO and Board Chairman. There were 4 companies that entered into a competitive bidding process (JV of Alpha TND Limited and Jungle Energy Power, PATCO Engineering & General Contractors Inc, JV of Integrated Service & Equipment Inc and Eya Bantu and JV of Quality Group of Construction Companies and Albédo) and the contract, awarded to McGill’s company for Maryland and Grand Gedeh Counties.
Bid documents reveal that a Liberian owned and operated company JV of Integrated Service & Equipment Inc and Eya Bantu had a better proposal and solutions to invest in the Southeastern Grid Network that would have led to a major economic transformation and job creation for the citizens in Southeastern Liberia.
The decision to grant LIB ENERGY the Asset Management Contract has raised eyebrows and sparked a heated debate on the ethical implications of such dealings.As the CEO and Chairman of the Board of LEC, Captan holds a pivotal role in the World Bank-funded Liberia Accelerated Electricity Expansion Project (LACEEP), also as the Project Director aimed at addressing critical issues within the electricity sector, including limited generation capacity and financial constraints.
Critics argue that the LEC CEO & Board Chairman and World Bank LACEEP Project Director very knowingly associated with a sanctioned individual like Nathaniel McGill and entered into a Joint Business Agreement to seek financial benefits not only jeopardizes the reputation of LEC but also raises questions about the responsible use of World Bank funds.
With the United States being the largest shareholder in the World Bank, concerns have been voiced over the allocation of USA taxpayer money to entities (LIB ENERGY) connected to individuals under US sanctions, namely Mr. Nathaniel McGill.The U.S. Congress approved the Foreign Extortion Prevention Act (or FEPA) The FEPA LAW would make it a crime for a foreign official—including any employee of a foreign government or any current or former senior official of a foreign government’s executive, legislative, judicial, or military branches or any immediate family member or close associate thereof—to demand or accept a bribe from an American or American company, or from any person while in the territory of the United States, in connection with obtaining or retaining business.
The controversy surrounding Mr. Monie Captan’s “Single Person Leadership” at the Liberia Electricity Corporation (LEC) as the CEO, Board Chairman and World Bank LACEEP Project Director and his questionable business dealings with Nathaniel McGill underscores the delicate intersection of international sanctions, corporate governance, and development funding and his intent to benefit from this “Business Agreement” between the LEC and LIB Energy. As demands for US sanctions on Mr. Monie Captan intensify, the future of LEC’s leadership and its partnership with international financial institutions remains uncertain.