House of Representatives launched an investigation to probe Central Bank of Liberia Car Loan scheme.

February 21, 2018

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The House of Representatives has launched an investigation into alleged car loan scheme at the Central Bank of Liberia.

Montserrado district #8 Representative Acarous Gray on Tuesday wrote the plenary of the House informing them about the on going loan saga at the bank

which he noted is troubling for the Country.

According to his communication there are employees who are allegedly receiving between 90-300 thousands as car loan.

According to representative Gray plenary needs to intervene to safe the state especially when the time for the passage of the 2018/2019,fiscal budget into law

is drawing closer.

“such in his words unwholesome practices in the past undermines the developmental drive of Liberia and should be looked into promptly ” , he added.

The Bank of late has been into several controversies in the public ranging from the dramatic drop and subsequent increase in United States Dollars to that of the local currency on the market though it has since clarified that such was artificially done by unknown people.

Additionally the CBL has come under a major spotlight when President Weah pronounced that the Country is broke, a situation his Government inherited.

Currently Government officials mainly civil servants are yet to be paid according to credible information since December of 2017 as they therefore demanding for their salaries and benefits.

Meanwhile in a move to place urgency on the matter, the plenary has mandated two committees to Investigate the allegations

to include,

Banking and Finance and the judiciary

Committee respectively.

The two committees are expected to present reports to the plenary soon.

Photo Credit by:

Amos P. Korzawu.

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