House Summons CBL Governor over US$40 Million Dollars’Consolidated Account’ Saga

By: Jeremiah Sackie Cooper

Capitol Hill: The Plenary of the House of Representatives has unanimously agreed to summon the authorities of the Central Bank of Liberia to provide clarity on controversies surrounding US$40 Million claimed to be left behind by the George Weah-led government.

Authorities of the Central Bank of Liberia are expected to appear before the plenary of the House of Representatives on Thursday 1st February 2023.

The plenary’s decision is based on a communication filed by Margibi County District #2 Representative Hon Ivar K. Jones.

Representative Jones, in his communication, stated that there are contradictions in the total amount of Money left in the government’s account by the George Weah led government which was emphasized by Pres. Joseph Boakai during his first state of the nation address.

On 21 January 2024, former president Georege Weah in his farewell speech bragged that his government is leaving behind the amount of US$40,375.90 Million in the Government’s consolidated accounts.

The former Liberian leader noted that the amount (US$40,375.90 Million) is ten times bigger than what his government inherited from former President Ellen Johnson Sirleaf.

“I am handing over to the next administration net international reserve position of Two Hundred Twenty-Two Million, Seven Hundred Thousand United States dollars. The total cảsh balance in the Government’s Consolidated Accounts is United States Forty Million, Forty-Four Thousand, Three
Hundred Sixty-Five Dollars and Ninety Cent.This can not be compared to the US$7 Million that I received from the Madam Sirleaf regime”, he added.

But, the former Liberian President’s statement has landed into controversy as President Joseph Boakai disputed said statements.

President Boakai, while delivering his first State of the Nation Address on Monday 29 January 2024, told members of the Legislature that there is no US$40 Million passed to his government by the Weah’s regime.

“The report of US$40 Million at the Government’s consolidated account balance as at January 19, 2024 is not supported by the fact. The balance reported by the Central Bank of Liberia as of the same date was US$20.5 million, highly encumbered, not US$40 Million”, President Boakai clarified.

The claim and counterclaim has left Liberians in doubt, with many hoping to know the fact.

They are hoping that the appearance of authorities of the Central Bank of Liberia before the plenary of the House of Representatives will provide answers to their many questions.

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