By By The People news| Investigative Desk
Monrovia, Liberia – A widening debt scandal involving some of Liberia’s most prominent business owners and foreign nationals has come to light, with leaked court documents revealing that more than $2 million USD in unpaid loans is now under legal pursuit. The debt is connected to Guaranty Trust Bank (GT Bank) Liberia, but the bank has remained noticeably silent on the matter, even as the names of defaulters’ surface and court enforcement measures escalate.
According to the leaked documents obtained through unnamed sources, the individuals involved span sectors from fitness and electronics to timber, trade, and hardware imports. The records now in circulation indicate that legal orders have been issued for the arrest of several debtors should they be found anywhere within Liberian jurisdiction.
Topping the list is Hussein Elhadjali, promoter of Ultimate Fitness and Mega Choice, who is reported to owe US$399,191.81. Both businesses have reportedly gone inactive, and Elhadjali has remained out of reach for years. There are no signs of recent repayments, and all contact with the promoter appears to have ceased.
Robert Baines, associated with R.B. Group, is listed with an unpaid exposure of US$413,875.48. His company, formerly involved in trading activities, has made no visible effort to honor the debt, and his current location is unknown, the documents state.
The highest single default comes from Bamidele Ariyd Oluyewa, linked to Geotess and Tropical Timber, with a staggering US$552,160.66 owed. Despite what appears to be multiple restructuring attempts, no payments have been recorded, and the companies have since shut down operations.
Also named is Nelson D. Ononye of Manex Limited, with an outstanding amount of US$287,205.84. Once engaged in hardware imports, the business is now reportedly dormant, and its financial obligations have gone unfulfilled.
Rounding out the top five is Gillet Pascal, promoter of Elite Ventures Liberia Limited, who reportedly owes US$177,164.36. His business, previously registered in general trade, appears to have been struck from the commercial registry, with legal enforcement now pending.
In total, these five individuals account for US$2,029,597.15 in defaulted obligations. The court documents suggest that legal steps are actively being taken, with a clear intent to seize assets and compel repayment through judicial means.
What stands out most in this unfolding saga is the deafening silence from GT Bank Liberia itself. Despite being at the center of these multimillion-dollar defaults, the bank has neither acknowledged the contents of the court filings nor responded to inquiries regarding the enforcement of the debt.
The origins of the leaked court documents remain unclear, but their authenticity has been corroborated through multiple independent legal sources familiar with the cases.
Observers note that the situation raises serious questions not only about the state of non-performing loans in Liberia’s financial sector, but also about the capacity—or willingness—of institutions to publicly confront powerful or well-connected defaulters.
“This is just the tip of the iceberg,” one legal analyst told The People News, requesting anonymity due to the sensitivity of the matter. “There are more names tied to these cases—names that carry political weight and economic influence.”
Indeed, additional reports suggest that a second wave of high-profile defaulters is expected to be revealed in the coming weeks, with several politicians and prominent business figures reportedly owing substantial sums to the bank as well.
Enforcement on the Move
The court documents indicate that judicial authorities have authorized active recovery measures, including nationwide arrest orders for the named defaulters. Legal observers say this may be one of the most serious tests yet of Liberia’s ability to enforce banking laws without political interference.
Financial analysts warn that the impact of these defaults could ripple across the banking sector, affecting liquidity, creditworthiness, and investor confidence.
As the court cases proceed and enforcement efforts accelerate, attention will likely shift to regulatory oversight bodies, and whether they will act decisively to restore confidence in Liberia’s credit and legal systems.
For now, GT Bank remains publicly unresponsive, and the debtors named in the leaked documents remain at large—some in hiding, others living openly, yet ignoring repayment obligations that could destabilize the financial system if left unaddressed.
