Liberia’s banking sector is dominated by regional banks, mostly Nigerian-operated UBA, GT Bank, Global, Afriland of Cameroun and the most recent, GN Bank from Ghana. LIBERIA WILL FOREVER remain indebted to its regional neighbours for the roles they played in helping Liberia recovered from a protracted civil war. AS A RESULT, bank thefts and robberies are at an all-time high. THE UNITED BANK OF AFRICA (UBA) took three men to court for allegedly conspiring with a former bank employee to steal US$30,000. PERHAPS IF ONE OR TWO western banks are encouraged to enter the market with tighter financial control systems; the flood of regional banks will shape up and begin to take their control systems a lot more serious than they have been.

Source: Front Page Africa August 28, 2016 23:03 UTC