Ex-officials of the Central Bank of Liberia on trial for the alleged unauthorized printing of Liberian dollar banknotesMonrovia – Indicted former board member of the Central Bank of Liberia (CBL) Board of Governors, Kollie S. Tamba says the Legislature authorized the printing of Liberian banknotes to replace legacy banknotes in the economy. Co-defendant Tamba made the testimony on Tuesday at the Criminal Court ‘C’ when he took the witness stand. The members of the Board of Directors understood this document to be full authorization to the CBL to proceed with replacing completely all legacy currencies. “The CBL is authorized to introduce coins in lower denominations into the economy to allow fraction transaction which could help to minimize inflation. Weeks, David Farhat and Elsie Dossen Badio for the illegal printing of the alleged missing L$16 Billion Liberian bank notes intended to replace legacy bank notes.

Source: Front Page Africa August 12, 2020 07:38 UTC