19 September 2018

Liberia: Weeks Under 'Probe'

As investigation into 'missing billions' of Liberian dollars intensified, former Executive Governor of the Central Bank of Liberia (CBL) Milton Weeks is said to be under investigation in connection to the money; Information Minister Lenn Eugene Nagbe has disclosed.

Speaking Tuesday when he appeared on LBS Super Morning Show in Paynesville, near Monrovia, Minister Nagbe said the former governor and others at the bank have been spoken to regarding the 'missing' money.

He also disclosed that Finance and Development Planning Minister Samuel Tweah has also been spoken to relative to the money.

Minister Nagbe said the investigating team is speaking with several other persons as well. The Information Minister said the government is determined to establish facts surrounding the money.

He explained that those who are being investigated including Mr. Weeks are cooperating with the investigating team.

Minister Nagbe said there will be no sacred cow in this investigation, as anyone found culpable will be prosecuted.

The Information Minister clarified that government has not said billions of Liberian banknotes were missing, noting that only the investigation will determine same.

He admitted that huge quantity of Liberian banknotes was brought into the country between November 2017 and August 2018 through the Roberts International Airport and the Freeport of Monrovia.

However, he said President George Manneh Weah was never in the know of the money being brought into the country, something, he said, is very strange.

Minister Nagbe said it is unusual for the CBL to bring in new banknotes without the knowledge of the president.

The Information Minister said when the president got tipoff of the money, he immediately commissioned investigation.

He said investigation is currently at an advanced stage as relevant information is being gathered.

Minister Nagbe said investigation will establish how much in total was brought into the country and quantity in circulation.

He further said the investigation will also establish whether the money is in the custody of CBL or not.

Minister Nagbe said it is believed that about L$16 billion was brought into the country between the mentioned period.

He said it has been established that the money was printed in Sweden, Lebanon and China, something he said is unusual.

The Information Minister said the investigating team is getting the cooperation from some of the printing companies.

Meanwhile, Minister Nagbe said there is no intention to investigate former president Ellen Johnson-Sirleaf in connection to the money.

Liberia

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