Monrovia – Senator Milton Teahjay has debunked reports that the Legislature authorized the Central Bank of Liberia to print extra Liberian dollar banknotes besides the authorized L$5 million printed in 2016.
Report by Henry Karmo, [email protected]
Teahjay, a ranking member of the Banking and Currency Committee of the Senate, said there’s no document that shows that the Legislature authorized the Central Bank to print extra banknotes either than the L$5 million.
“As a member of the Banking and Currency Committee of the Liberian Senate, I am only aware of authorization to for the Bank to print only the five billion dollars, the second approval was never granted,” Teahjay said.
The Sinoe County Lawmaker told newsmen that the CBL was instructed to meet specific benchmarks and report to the Legislature before the printing of additional money.
He further stated that the Legislature requested CBL to furnish the August body with the appropriate details of the volume and denomination of the replacing banknotes prior to the printing and the minting of coins.
Senator Teahjay averred that the alleged missing L$15 billion might be correct, but such was not granted by the Legislature.
“Who may have authorized the printing of the access amount? Have we to find out?” Teahjay asked rhetorically.
He said that if it is true that excess money was printed by the CBL without the consent of the Legislature, the former Governor of the Central Bank of Liberia, Milton Weeks needs to be brought to book.
“This current administration has no record of printing money,” he said.
Speaking about Monday’s protest in Monrovia, the Sinoe County lawmaker said, “I am asking myself a question as to whether or not the demonstration on Monday, September 24, 2018 was based on facts or speculations”.
According to him, while it is true that it is their right to demonstrate, such action should be guarded by facts, instead of speculations. He pointed out that he and other Liberians who organized and led demonstrations in the past did so with facts and no speculations.
He at the same time frowned on those Liberians who went on the streets calling on the international partners to impose economic sanction on the country.
“Why should the organizers of the demonstrations call for economic sanction when this government is just eight months in power, this is totally unfair and premature,” he stated.
According to him, he will meet with the Ambassador of the United States and other envoys to defuse the petition made on Monday.
Teahjay also warned against ill responsible collaborations, stating that “UP should not be used to take hot palm-nuts from the fire”.