Liberian NewsUncategorised

Liberia Central Bank did not get Legislative approval to print additional LD$10Bn

(Last Updated On: )

-Sen Marshall Dennis reveals

-As US Embassy confirms receiving request from Liberia to help probe missing billions saga

By Augustine Octavius
The man who headed the Senate Ways, Means and Finance Committee in Liberia’s 53rd Legislature told state on Monday morning that the Central Bank of Liberia (CDL) did not get Legislative approval to print an additional ten billion Liberian dollar in 2017.
Senator Marshall Dennis of Grand Gedeh County told ELBC live phone-in talk show that the only amount the CBL was given was to print five billion Liberian dollars banknotes in 2016.
Sen. Dennis described as “unconstitutional” the action of former CBL Governor Milton Weeks and the Bank’s Board to print an additional ten billion Liberian dollars.
He said the 54th Legislature, which is currently on recess, is convening an emergency session in mid-October to deliberate on this and the ongoing missing billions saga.
Meanwhile, the United States Embassy in Monrovia has confirmed that the Liberian government has formally requested for assistance aimed at investigating the disappearance of the billions.
According the United States Embassy, the request of the Liberian government has been forwarded to Washington for consideration.

Hundreds of people have protest in Monrovia against the disappearance of 15 billion Liberian Dollars printed for the Central Bank of Liberia.
The “Bring Back Our Money” protesters on Monday presented to the United States, the European Union and the United Nations office  near the Liberian Capital.
In their statement presented to diplomatic missions, the spokesmen of the group, Emmanuel Gonqueh and Martin Kollie called on the international community to halt all assistance to the Liberian government.
They also prevailed on the diplomatic missions to pressurize the CDC-led government to conduct an investigation into the disappearance of the 15 billion Liberian Dollars and bring the culprits to justice.
The demonstration, which was conducted peacefully under the heavy down poir of rain,  saw protesters march through the streets of Monrovia under police protection.
But reacting to the demonstration, the Coalition for Democratic Change (CDC) said the plans by the three collaborating opposition political parties to destabilize the CDC –led government has failed.
CDC National Chairman, Mulbah Morlu claimed that the leaders Liberty Party, the Unity Party and the Alternative National Congress were seen leading the demonstration.
According to him, the three opposition political parties want to obtain what they could achieve at the ballot box.
In a nationwide address shortly before his departure for the UN in New York over the weekend, President George Weah appealed to the public to exercise patience as efforts are underway to investigate the missing billions.

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