Liberia: CBL explains - US 20m Cash Consignment Transit Not Illegal

29 August 2024
The New Dawn (Monrovia)

[Monrovia, August 29, 2024] — The Central Bank of Liberia (CBL) clarifies media reports that a US$20M cash importation consigned to the Bank of Ghana (BoG) destined for Liberia is a legitimate transaction.

The importation of United States dollars is part of the Bank's normal function, which is required to meet the needs of the economy, including the USD withdrawal demands and needs of the Government of Liberia and the commercial banks.

CBL and the Bank of Ghana (BoG) have a long-standing Cash Custody Agreement executed for the BoG to provide overnight custody for CBL imported cash when shipped from London by Travelex Currency, an international currency shipment company.

These cash shipments by flights are cleared through Ghana and Liberia Customs, validating their legitimate sources.

The CBL once again emphasizes its commitment to transparency and accountability and encourages the media to always contact the Bank to verify any information about the Bank's operations before publication.

Read the original article on New Dawn.

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