Capitol Building, Monrovia, February 23, 2026: River Cess County Senator Bill T. Twehway has introduced a landmark piece of legislation in the Liberian Senate, titled the "Gold Reserve and Currency Stabilization Act of 2026," aimed at strengthening the country's economy through structured gold reserve management.
Reading the senator's legislation on Thursday, February 19, 2026, J. Nanborlor F. Singbeh, Sr. Secretary of the Liberian Senate, said that the proposed measure is designed to stabilize the Liberian dollar, curb inflation, and build national financial resilience by leveraging Liberia's gold resources.
Under the legislation, the National Gold Purchase Program enables the Central Bank of Liberia (CBL) to establish a Program, granting the bank the "Right of First Refusal" to purchase a percentage of all gold mined in Liberia.
The proposed legislation outlines several key provisions, including: A 1% in-kind gold royalty for medium- and large-scale mining operations, payable in physical gold. The use of accumulated gold reserves helps back the Liberian dollar, reduces inflationary pressure, and enhances national creditworthiness.
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Furthermore, the legislation aims to establish a National Gold Refinery and to provide incentives to promote domestic gold refining.
A requirement that, within 36 months of the Act's passage, a refining surcharge be imposed on all raw gold exported from Liberia that has not been processed locally to at least 95% purity.
The bill, which imposes strict penalties for gold smuggling and the falsification of production records, also establishes a Gold Reserve Oversight Committee to oversee the program's implementation. The committee would include representatives from the Ministry of Finance and Development Planning, the Central Bank of Liberia, the Ministry of Mines and Energy, and the Liberia Chamber of Commerce.
If enacted, the Act would take effect immediately and could represent a major shift in Liberia's monetary policy framework, positioning gold reserves as a central pillar of currency stabilization.
The Senate plenary has reserved the bill for a second reading, during which Senator Twehway will have two minutes to further explain its provisions before it is forwarded to the relevant committee for detailed review and reporting.
