Monrovia, Liberia- The Deputy Governor for Operations at the Central Bank of Liberia, Charles Sirleaf, has told legislators that the CBL received authorization from former President Sirleaf and Pro-tempt Armah Jallah for the printing of L$10.5 billion.
Mr. Sirleaf made the statement on Monday when he appeared before the House of Representatives . He added that the Central Bank Board of Governors communicated through a resolution to the former stakeholders on behalf of the bank.
The Central Bank Deputy Governor further stated that the bank communicated with the two stakeholders in a letter dated May 24, 2017, and signed by Dr. Mounir Siaplay, Deputy Governor for Economic Policy.
“The Management of the Central Bank wrote a letter to both the President and the Legislature, requesting the printing of L$10 billion banknotes. In response to the two communications,we received two replies; one from the President, and another from the Legislature. Both communications basically said the same thing. You are authorized to print, however, please provide the details of the denominations of money to be printed,” Mr. Sirleaf said.
In the meantime, Mr. Sirleaf informed legislators that no money had gone missing despite reports of missing banknotes which has initiated investigations and series of protests.
The head of Internal Audit at the Central Bank of Liberia, Mr. Joseph Dennis, supported Mr. Sirleaf’s claim that no money went missing.
“Our role as internal auditor when it comes to shipping and receiving of printed materials; usually it starts when the banking department inform us that a consignment of printed materials will be arriving tomorrow or the next day.”
“And so, we should assign auditor with the team that will be going to the port or RIA to receive the consignment. We go there as auditors to observe, firstly to see, if it is a container, whether it is sealed, then when it is brought to the bank, the seal is broken and opened, and the contents of the container are checked. As per all our reports, we received L$15.5 billion,” Mr. Dennis Said.