The unusual flow of new Liberian banknotes, the lawmakers said, is happening at a time when there is speculation about the illegal printing of additional money awaiting legislative approval for infusion into the market. Controversies over the alleged introduction of new banknotes on the Liberian market are overshadowing the ongoing special sessions of the House of Representatives. The latest debate is about the infusion of additional pieces of 500 banknotes at commercial banks that is allegedly being served to only lawmakers; something the lawmakers said is unusual and needs investigation. Contrary to said scarcity of Liberian dollars banknotes, we have observed over the last two days that commercial banks have begun [dispensing] new banknotes to depositors,” the lawmakers wrote their colleagues. Before plenary’s decision, Rep. Dixon W. Seboe, Chairman of the House Committee on Banking and Currency, suggested that the CBL officials be queried in open session.

Source: Daily Observer December 13, 2019 02:26 UTC