The Central Bank of Liberia (CBL) has responded to a complaint from a Portuguese national, Joao Miquel Amaro Correia, regarding an alleged failure to transfer US$10,000,000 for a real estate project in Liberia.
Correia, On June 26, 2024, sent a letter of complaint to several government officials within the Executive and Legislative Branches of government, and civil society organizations, requesting an investigation into two senior CBL officials. He alleged that these officials failed to finalize the fund transfer and undermined the agreement in question.
However, the CBL said in a statement on Sunday that, after reviewing Correia's claims, it identified inconsistencies and falsehoods in the allegations against its officials. The bank said its policy does not permit payments based on private agreements and highlighted that the individuals named by Mr. Correia as CBL secretaries were not employed by the Bank.
Correia, in his complaint, named two individuals who allegedly work as secretaries to the CBL officials he alleged to have interacted with.
The Portuguese also failed to name the Liberian company (ies) or institutions that he was transacting with and, as such, the CBL indicated that the absence of specific details, such as the names of the Liberian institutions involved in the project, raised doubts about the credibility of the allegations. The bank also noted that the two people Correia named are not within the employ of the Bank.
"In a lengthy email pasted to the letter of complaint, Mr. Correia also made wide-ranging assertions that do not establish any foundation for a logical conclusion in support of his allegations," the CBL statement indicated. "Contrary to Mr. Correia's claims, the CBL clarifies that its policy does not allow the Bank to make payments based on agreements reached between private parties or businesses."
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The bank added, "The two individuals named by Mr. Correia as secretaries to the CBL officials he alleged to have interacted with him are not within the employ of the Bank, thereby making it appear that he was apparently misled into believing that he was doing business with staff of the CBL."
"Mr. Correia also failed to name the Liberian institutions that he reached an agreement with for a real estate project in Liberia. The CBL believes that the inconsistencies raise significant questions about the credibility of Mr. Correia's allegations."
The CBL reaffirmed its commitment to ensuring secure financial transactions in compliance with Liberian laws. The CBL, therefore, advised the public to be cautious of potential scams and refrain from misrepresenting themselves as conducting business on behalf of the Bank.
