Liberia: US$20M Sent to Ghana a ‘Regular Banking Procedure’, Says Central Bank Source

FrontPage Africa has been reliably informed that the US$20 million in question is being imported by the Central Bank of Liberia, and it is a regular banking procedure. The source says the CBL imports new banknotes from federal reserve and exports mutilated bank notes to federal reserve as well. This practice is a regular banking procedure.

This clarity comes amid report that a Ghanaian Parliamentarian Samuel Okudzeto Ablakwa, who represents North Tongu Constituency and serves as Committee Chairman on Assurances, has expressed serious concern over the alleged movement of some US$20M that was exported from London to Ghana via KIA.

Parliamentarian Ablakwa claims that the cash in question has allegedly been cleared by the Bank of Ghana and will be re-exported to Liberia whenever there’s an available flight based on information from the Ghanaian government. This paper could not independently verify his claim.

Ablakwa said other intercepted documents including the air waybill indicate that the huge cash belongs to the Bank of Ghana as consignee and not the Central Bank of Liberia. He is demanding explanations from the Bank of Ghana on why supporting documents are not consistent with the content of its August 21, 2024 letter to customs and air officials which sought to clear the uncirculated banknotes.

The Parliamentarian claims that he and his international partners are tracking the movement of the US$20M from London to confirm if it will be transferred to Liberia and when will this transfer be made.

While the CBL has not responded to an FPA inquiry, source says the money in question is part of the bank’s regular practice where it exchanges mutilated bank notes with new ones from the Federal Reserve of the United States.