Liberia: 'Ex-CBL Board Criminally Adopted Resolution to Print L$16b'

opinion

State witness claims

One of several state witnesses to testify into the ongoing missing L$16 billion dollar banknotes at the Central Bank of Liberia (CBL) has accused members of the board of criminally adopting a resolution to print the unauthorized L$10 billion of the L$16 billion.

Amos Gobe, a member of the Financial Intelligence Unit that participated in investigating the missing money, testified on Thursday, July 9, at Criminal Court 'C' that three of the board members, including David M Farhat, Elsie Dossen Badio and Kollie Tamba, signed the resolution without mentioning the date and the amount to be printed, though they did not get approval from the Legislature as provided for by the law.

"Farhat, Badio and Kollie played a criminal role when they signed a board resolution without a date and amount of the resolution," Goba quoted findings in his investigative report.

Farhat, together with Badio, Tamba and former Executive Governor Milton Weeks, is being tried for the alleged unauthorized printing of over L$10 billion banknotes and their failure to account for an excess of L$2.6 billion banknotes. They are facing charges that include misuse of public money, economic sabotage and theft of property, among other charges, which they have denied. Also, when he testified, Counselor Joseph K. Kollie, the former senior counsel of the bank, claimed that there was no joint resolution from both Houses for the bank to print the L$10 billion.

"I don't have any knowledge that the bank received authorization in the printing of the L$10 billion," Cllr. Kollie said. Cllr Kollie recounted that he drafted the resolution for the board to print the L$10 billion. He claimed that after drafting the resolution, he forwarded it through an email to then Executive Governor Weeks and also forwarded same to the Copy Secretary of the bank. "Sincerely, I didn't hear anymore from the Copy Secretary but to hear that the money was printed," Kollie alleged.

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