Monrovia — The Central Bank of Liberia (CBL) clarifies that Henry F. Saamoi, CBL's Acting Executive Governor and former CEO of the International Bank Limited (IBLL), remained in his role beyond his authorized tenure with CBL's approval. The CBL emphasized that Saamoi's tenure extension, consistent with previous extensions granted to other CEOs and Board members of commercial banks, was approved in line with the CBL's Corporate Governance Regulation and Fit and Proper Guidelines.

To ensure continuity in IBLL's leadership and maintain the bank's stability, CBL approved the extension at the request of IBLL's Board of Directors. This decision followed the unanticipated resignation of the General Manager designated to replace Mr. Saamoi, who stepped down due to personal obligations.

The CBL underscored its commitment to upholding regulatory standards and assured the public that executive tenures within financial institutions are managed in strict compliance with its regulatory oversight of Liberia's banking sector.