Published: November 9, 2026
MONROVIA -- The Central Bank of Liberia has barred Cititrust Savings and Loans Liberia Limited from taking new deposits or making new loans and has imposed restrictions on TipMe Liberia Limited, a payment company under the same ownership. The central bank acted amid concerns about whether Cititrust can meet its customers' withdrawal requests.
Cititrust also cannot sell or transfer any assets without the central bank's written approval. The bank said it had ordered the owners and management of both companies to put in more capital and liquidity but that they had not done so. "To date, these measures have not been implemented in a manner satisfactory to the CBL and sufficient to address the supervisory concerns identified," the bank said in a statement dated Saturday and signed by Executive Governor Henry F. Saamoi.
The bank said it found "similar supervisory concerns" at TipMe, a licensed payment service provider, and had imposed "appropriate supervisory restrictions." It did not say what those restrictions are.
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The central bank said its supervisors had identified "significant concerns regarding the financial condition, governance, and internal controls" of Cititrust. It placed the savings and loans company under enhanced supervision and sent resident supervisors to monitor its daily operations. The statement does not say when that began.
The bank has commissioned an independent forensic and special investigation into both companies. The investigation will establish their financial condition, check whether they have complied with the law and decide what regulatory action to take. Any violations found will be dealt with through "supervisory, administrative, civil, or other legal measures," the statement said. It did not name the investigator or give a timeline.
Depositors were given no assurance of repayment. The central bank said customers with concerns about their accounts or dealings with either company may submit information through official channels it will announce later. It added that doing so "should not be interpreted as confirmation of entitlement, validation of any claim, or a guarantee of repayment."
The statement does not say how many depositors Cititrust has, how much it holds in deposits or how much in withdrawals it has been unable to pay.
[Cititrust and TipMe response, or a line on the attempt to reach them]
The central bank said the restrictions are precautionary measures under the New Financial Institutions Act of 1999 and the National Payment Systems Act of 2014. They "should not be construed as a final determination regarding the financial condition of the institution or the outcome of any regulatory proceedings," the bank said.
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It urged depositors to pursue their concerns through lawful channels and to refrain from actions that could "endanger public safety, disrupt legitimate business operations, damage property, or compromise records and evidence."
The central bank said the problems are confined to the two companies. Other licensed banks, nonbank financial institutions and payment service providers "continue to operate normally," it said.
