A visiting team from Kroll & Associates, accompanied by a delegation from the United States Agency for International Development (USAID) has met with senior executives of the Central Bank of Liberia (CBL) to discuss issues of collaboration with the CBL as the Bank prepares to undertake the printing of a new family of Liberian dollar banknotes.
The head of the Kroll team, Paul Nash, expressed happiness to work with the CBL team and expressed hope that the team will build on the success of the previous collaboration between their respective institutions. Nash said his team is prepared to work along with CBL technicians to discuss all the technical details that would facilitate the process.
The head of USAID-Liberia Mission Director, Sara Walter, said her team is pleased to join the CBL in its effort to print a new family of Liberian dollar banknotes. “It is your show, we are just here to help you,” Madam Walter emphasized.
In response, CBL Executive Governor, J. Aloysius Tarlue, Jr. lauded Kroll Associates and the USAID Liberia team for the partnership. Governor Tarlue said the CBL welcomes the collaboration and is willing to continue on that path.
He expressed appreciation for the discussions, which he said, are intended to serve the interests of all sides.
Tuesday’s meeting was also attended by the Deputy Governor for Operations at the CBL, Madam Nyemadi D. Pearson who assured the visiting Kroll Associates and USAID Liberia Mission teams that CBL is prepared to work with their technicians in ensuring a smooth and transparent process.
Kroll & Associates, as part of an understanding between the CBL and USAID in December 2019, facilitated, advised, and monitored the processes involving the successful procurement, management and accounting for the L$4-billion, which were printed and infused into the banking sector of the country.
Kroll Associates with funding from the USAID conducted investigation into the L$16Billion missing banknotes saga in 2019 that uncover several discrepancies in the handling of the money by the CBL.
L$48.7billion to be printed
The Liberian Senate through a majority vote has given approval for the printing of L$48 billion after members of the House of Representatives have earlier voted despite suggestions from some political leaders for lawmakers here to pause the move and ensure that the executive fixes issues within the banking system so as to boost public confidence.
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