-Admits giving car loan, but fails to state value
As some Liberian lawmakers was calling for Central Bank Governor Milton Weeks’ appearance to clarify newspaper report, the CBL has denied a NEW DAWN report that the Bank had given US$300,000 to each Governor as car loans.
On February 15, 2018, the New Dawn Newspaper wrote what the Central Bank described as an erroneous story under the caption “US$300,000 for Each Governor at CBL”, alleging that the Central Bank of Liberia, in December 2017, gave US$300,000 to each of its Governors as car loans.
The news report then sparked serious debates in many quarters, claiming the attention of some lawmakers on Capitol Hill but the Bank has rubbished the claims.
“The Management of the CBL denies this story and classifies it as unfounded, misleading and a calculated attempt by the New Dawn Newspaper and its associates to tarnish the reputation of the CBL and its Governors,” according to a CBL press release issued on Monday.
The Central Bank of Liberia clarified that it has in place a car loan scheme/policy, which began in 2013, for its senior staff to buy their own cars with repayment over a maximum five-year period.
It said “this has been a cost-effective measure to mitigate the high maintenance cost of assigned bank vehicles,” but the CBL release did not state the value of its car loan.
Meanwhile, the Central Bank of Liberia is challenging the New Dawn Newspaper to produce evidence to support its wild and fictitious claim while cautioning news houses to ascertain facts and avoid publishing falsehoods.