HOUSE INSTRUCTS RELEVANT COMMITTEE TO PROBE INTO ALLEGATION SURROUNDING THE STATUS OF THE PAN AFRICA
- Konah Rufus
- Feb 16, 2022
- 2 min read

Rep. Richard Koon
Liberia
The Plenary of the House of Representatives has instructed its Committees on Contract and Monopoly and Judiciary to probe allegations surrounding the status of the Pan African Plaza since the departure of the United Nation Mission in Liberia (UNMIL).
Plenary decision was reached following a complaint raised by Rep. Richard Koon of Electoral District 11, Montserrado County.
In his communication, the lawmaker accused authorities managing the Pan African Plaza of not been in compliance of its real estate tax liability and mystery surrounding the ownership of the property.
According to Honorable Koon, UNMIL rented Pan African Plaza from the Pan African Real Estate Corporation (PAREC), a company registered under the laws of Liberia and the Liberian Government was a significant shareholder in PAREC.
“Honorable Speaker, Deputy Speaker and distinguished colleagues, with an annual income of US$2.8 million and total income of US$34.5 million in the 12 years ending December 2018, there appears to be shocking mystery regarding ownership, in terms of the identities of shareholders and corporate activities of Pan African Real Estate Corporation during this digital, computerized age of information technology”, Honorable Koon’s letter to the Plenary reads.
He also stated that “Assets: 8-storey Building in the City of Monrovia, Liberia, investment sector: real estate sector shareholders: 50% Libyan African Investment Company ( LAICO) Libyan government 50%, Liberian Government, the Libyan-Liberian Holding Company and six others state-owned Enterprises were dissolved by Legislation upon request dated June 5, 2015 by President Ellen Johnson Sirleaf on ground that “they are no more viable and significant to the (economy) of the country”, but Libyan-Liberian Holding Company (LIHC) was replaced by the Pan African Real Estate Corporation (PAREC)”.
Rep. Koon further appealed to his fellow lawmakers to summer the authorities of the property to provide clarity on the matter.
Following the reading of the communication, a motion was made by Representative Edward Karfiah to summon the entity but the motion was amended by Representative Ben A. Fofana of Margibi County to have the communication forwarded to the Committees on Contract and Monopoly and Judiciary to report to review and advise the august body within two weeks. http://about.me/konahrufus
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