HOR Defers CBL's Hearing to Banking Committee

Capitol Hill: Members of the House of Representatives voted Thursday for the Transitional Team and the Central Bank of Liberia (CBL) to be subjected to an investigation of the Banking and Currency Committee to address information regarding the data of US$20.5m which President Joseph N. Boakai announced during the January 29's State of the Nation Address (SONA).

According to the motion proffered by Montserrado County District #16 Representative Dixon Seboe, the House's Banking and Currency Committee should probe the Central Bank of Liberia, including the Governor of the Central Bank of Liberia, J. Aloysius Tarlue and his deputies, Dr. Musa Dukuly, Deputy Governor for Economic Policy, and Madam Nyemadi D. Pearson, Deputy Governor for Operations as well as the Transition Team to ascertain which "data" were submitted to the President to have said that the report of US $40 million as the GoL’s consolidated account balance as of January 19, 2024, is not supported by the fact.

The New Kru Town Lawmaker, in his motion said from the testimonies of the Central Bank of Liberia, indicated that as of January 19, there were over L$2.4b in the Consolidated Account as well as more than US$27m; and as per the approved prevailing rate of US$1 to L$188.36; that means the total amount in the Consolidated Account on January 19 was about US$40.4m.

The motion said the Banking and Currency Committee will report to the August Body on Tuesday, February 6.

Plenary's decision on Thursday was triggered following testimonies from CBL Governor Tarlue and Deputy CBL Governor Pearson on clarity of bank balances on December 31, 2023 and January 19, 2024 respectively.