Monrovia, May 21 -- President Joseph Nyuma Boakai has directed the Central Bank of Liberia (CBL) and the Liberia Revenue Authority (LRA) to investigate and assume control of a purported 20% stake in Lonestar Cell MTN Mobile Money, allegedly held in trust for the Liberian people.

The President made the surprising revelation during his monthly cabinet meeting on Monday, disclosing that an investor, reportedly linked to the company, informed him in Accra, Ghana that 20% of the company's shares rightfully belong to the government or citizens of Liberia.

According to President Boakai, the investor's claim suggested that although Lonestar Cell MTN Mobile Money has recognized the existence of the shareholding arrangement, it has failed to dis...