17/09/2025
-Mystery Surrounds Ownership of Pan African Plaza Amid Tax Controversy...
The ownership and management of Monrovia’s Pan African Plaza have become the center of a contentious investigation initiated by X-RayGlobal and affiliated media network.
X-Ray Global News has gathered information that the building, previously under the ownership of The Libyan-Liberian Holding Company (LLHC), is now purportedly managed by Pan African Real Estate Corporation (PAREC), yet uncertainty lingers over its shareholders and tax compliance.
In 2022, the House of Representatives launched a probe triggered by allegations from Representative Richard Nagbe Koon of Montserrado County’s District 11, who claimed that Pan African Plaza failed to fulfill its real estate tax obligations, despite reportedly collecting over US$34 million in rent from the defunct United Nations Mission in Liberia (UNMIL).
Despite the House’s efforts, their attempt to launch a comprehensive inquiry into the matter fell through, resulting in widespread speculation and public outcry.
Up to press time, the true ownership details of Pan African Plaza remain shrouded in mystery, intensifying concerns over substantial tax revenue in a country like Liberia, where such funds are vital for national development.
The Liberia Revenue Authority (LRA) has yet to disclose tax and financial activities related to Pan African Plaza’s ownership and shareholders, underscoring the urgent need for transparency and accountability in this complex and contentious issue.
Our sources also indicate that the lack of disclosure raises further questions about regulatory oversight and adherence to legal requirements regarding corporate governance and taxation in Liberia.
In an exclusive report by X-Ray Global Newspaper, three high-ranking government officials spoke anonymously about the issue.
One official expressed concern, stating, “The lack of transparency surrounding Pan African Plaza’s ownership and tax compliance is deeply troubling. We need urgent action to address this for the sake of public trust.”
Another official emphasized the importance of resolving the matter swiftly, stating, “This situation highlights serious governance challenges that must be addressed promptly to uphold accountability and transparency in our country.”
A third official underscored the impact on national development, stating, “The unresolved ownership and tax controversy surrounding Pan African Plaza have significant implications for Liberia’s ability to utilize tax revenue effectively for crucial development initiatives.”
Our source said the situation highlight broader challenges facing Liberia’s governance and regulatory framework, particularly in ensuring transparency and preventing potential misuse of public resources.
Stressing, “Efforts to resolve the ownership dispute and clarify tax obligations must prioritize the interests of the Liberian people and uphold principles of accountability and good governance.”
Investigation into this matter continues, and X-Ray Global News remains committed to reporting updates as they unfold.