Published: April 27, 2026
MONROVIA -- The Liberian Senate has flatly denied allegations that a senior lawmaker solicited a financial inducement from Central Bank of Liberia and Finance Ministry officials during deliberations over a proposal to print approximately 79 billion Liberian dollars, calling the claims unsupported by evidence and dismissing them as speculation dressed up as fact.
The denial, issued Saturday by the Senate's Press and Public Affairs Department, came in response to media reports alleging that Lofa County Senator Cllr. Joseph K. Jallah, who chairs the Senate Banking and Currency Committee, had sought a bribe from government financial officials in connection with the currency printing request. The Senate said no such solicitation occurred at any point during or after the public hearing on the matter.
"The claims are unfounded, misleading, and entirely unsupported by credible evidence," the Senate said in its release, describing the reporting as "speculative commentary rather than substantiated facts."
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The statement noted that public hearings of such significance are attended by media practitioners, civil society representatives and technical experts, making the concealment of any misconduct, the Senate argued, implausible.
Why the Committees Said No
Separate from the bribery denial, the Senate used Saturday's statement to explain the economic reasoning behind the Joint Committees on Banking and Currency and Public Accounts' decision not to recommend the CBL's printing request -- at least not yet.
The committees' central concern is inflation. Injecting 79 billion Liberian dollars into an economy already under pressure, lawmakers argued, risks expanding the money supply beyond what current economic conditions can absorb, thereby eroding the purchasing power of ordinary Liberians.
Currency stability is a related worry. The Liberian dollar is already losing ground against major foreign currencies, and the committees warned that authorizing a large-scale printing exercise without sufficient economic backing could accelerate that depreciation and further destabilize the exchange rate.
The committees have requested additional data from the CBL Governor before any recommendation goes to the plenary. Until that information is provided and reviewed, the request remains on hold.
A Warning to the Press
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The Senate's statement concluded with a pointed message to media institutions, urging them to prioritize accuracy and verified information in matters of national economic consequence.
"Public discourse must be anchored in verified facts rather than unsubstantiated claims," the statement read.
