Monrovia — Government's legal team has been mandated by the Justice in Chamber, Yusuf Kaba, to submit its response to a petition filed by suspended Central Bank of Liberia (CBL) Governor, Aloysius Tarlue, following a delay in doing so.
The Justice in Chambers acknowledged the petitioner's petition and ordered the adverse party, the government, to file their response for the Justice in-chambers to listen to both parties before issuing the pre-emptory writ or stay order.
As it stands, there has been no stay order issued yet on President Joseph Nyumah Boakai's decision to suspend Governor Tarlue.
Tarlue was recently suspended by President Boakai and an acting governor was named.
In response to his suspension, Tarlue, through his legal counsel from Gongloe & Associates, Inc., filed a petition for a Writ of Prohibition. The petitioner argued that the President's action was illegal and unconstitutional, asserting that the removal of the Executive Governor of the CBL could only occur through impeachment by the National Legislature.
The petitioner cited Section 13.1 of the Amended and Restated Act Establishing the Central Bank of Liberia (1999), which states that the appointment of the Non-Executive Governors, Executive Governor, and Deputy Governors shall be from among persons in good standing and of unimpeachable character, from the business and academic community, with experience and expertise in banking, finance, economics, law, or management, by the President of the Republic of Liberia, subject to confirmation by the Liberian Senate for a term of five years.
Before his suspension, FrontPageAfrica was reliably informed that Tarlue demanded $1.3 million to resign, but his request did not go through.
This breakdown in the negotiation reportedly led President Boakai to suspend him, according to Executive Mansion sources, forcing Tarlue to challenge his suspension, arguing that the President's action was illegal and unconstitutional.
More resignations
Meanwhile, in a letter addressed to President Boakai, Nyemadi Pearson, on January 31 resigned as Deputy Governor of Operations of the CBL, citing decision she had with the president's advisors and mutual agreements regarding the payment of her benefits, which include pension, severance, and compensation for my unexpired tenure.
She said her time at the CBL led to significant reforms in the country's banking operations, guided by the International Monetary Fund (IMF) safeguard assessment and drawing from prior audits and the recommendations outlined in the Kroll Report of 2018.
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These reforms, she added, greatly improved internal control, vault management procedures, and overall financial discipline, resulting in visible positive changes within the bank.
"Moreover, in 2020, we successfully executed the National Legislature's mandate to print new family banknotes and the minting of coins during the fiscal yeárs 2021, 2022, and 2024. The successful implementation of this currency changeover exercise stands as a testament to our collective efforts," she said.
"While serving my country, my patriotism has never wavered. This experience has been immensely rewarding, affording me the opportunity to learn and grow. I am grateful to have been a part of CBL, and I am confident that the skills I have acquired will serve me and my country well in my future endeavors."
"I am profoundly grateful for the privilege of serving in your government over the past seven months. Your Excellency, I am willing to stay on for up to 30 days after my effective date of resignation to assist with the transition if it meets your overall objectives."
