MONROVIA: The Board of Governors and Management of the Central Bank of Liberia (CBL) have refuted a local radio SPOON FM Live Talk Show claim on August 31, 2023, alleging unauthorized withdrawal of funds from the Central Bank.
The CBL said the allegations are untrue. The Central Bank outlines the following steps in the encashment of checks, as part of its procedures, processes and controls to avert unauthorized disbursement: Ensures the availability of funds, Verify signature, Seek confirmation from issuer, Approval by authorized signature, Encashment of checks.
According to the CBL, “Given these steps, under no condition or circumstances can a single individual authorize the encashment of checks or withdrawal of any funds outside the aforementioned procedures.”
“Secondly, the bank is apolitical and does not subscribe to the abnormal practices as insinuated by the SPOON TALK SHOW,” a press statement, issued by the CBL said.
“Thirdly, Liberia is under the IMF program and the Fund requests daily data in addition to the CBL`s internal and external auditors who vet and validate transactions to ensure that CBL operates within the confines of international best practice,” the statement added.
“CBL therefore, condemns the allegations spurted out as they have no iota of truth and are part of a grand design orchestrated to bring the CBL into public disrepute,” the statement indicated.
The CBL once again assures the Liberian people of its unflinching commitment to building a strong and credible financial system.
