Monrovia – Former Central Bank Governor Milton Weeks says the Legislature consulted and instructed CBL to replace mutilated banknotes during his tenure at the Central Bank of Liberia and that only L$10 billon was printed and not L$15 billion as alleged by state prosecutors. Weeks testified that the L$5 billion printed was inadequate to fully replace all of the mutilated banknotes. The former CBL Governor continued that the previous printer of the Liberian banknotes was a French Company. At that point, the CBL contacted two other reputable banknotes printing companies – Rue and Crane Currency – and based on the price and delivery options the CBL chose Crane Currency. By 2017, Weeks added that the CBL officials were summoned on numerous occasions to explain to the Legislature what the CBL was doing to correct this situation.

Source: Front Page Africa August 05, 2020 06:45 UTC