Monrovia, August 28, 2024: The Central Bank of Liberia (CBL) has clarified media reports and claims made by Ghanaian Parliamentarian Samuel Okudzeto Ablakwa, relating to a US$20M cash importation.
The Bank said the cash consigned to the Bank of Ghana (BoG) and destined for Liberia is a legitimate transaction as previously reported by Verity News initially based a staff source from CBL.
“The importation of United States dollars is part of the Bank’s normal function, which is required to meet the needs of the economy, including the USD withdrawal demands and needs of the Government of Liberia and the commercial banks,” CBL said.
The statement said, “CBL and the Bank of Ghana (BoG) have long standing Cash Custody Agreement executed for the BoG to provide overnight custody for CBL imported cash when shipped from London by Travelex Currency, which is an international currency shipment company.”
The Bank said these cash shipments by flights are cleared through both the Ghana and Liberia Customs, thus validating their legitimate sources.
The CBL however emphasized its commitment to transparency and accountability and encouraged the media to always reach out to the Bank to verify any information about the Bank`s operations before publication.
