Liberia: LBDI President Disassociates Itself From Recent List of Published Debtors


Monrovia – The Liberia Bank for Development and Investment (LBDI) has distanced itself from publications claiming that the bank has disclosed a list of borrowers, some of whom are high-profile individuals in the county.

The bank in a release signed by its President noted that the list is purported and does not represent the view of the institution.

By Willie N. Tokpah, [email protected]

LBDI in its statement expressed regrets, while some social media, radio

talk shows and other related platforms that thread on publishing said information of purported delinquent borrowers, without getting the reality from its management.

 “LBDI hereby disclaims and disassociates itself from the SAID LIST and asks that the public DISREGARD AND REFRAIN from attributing THE LIST TO LBDI,” the release issued by LBDI on Thursday, December 15 stated.

The bank’s statement comes a few days following a revelation made by its former President and CEO Deo Delaney, that there was a delinquent borrower who owed the bank.

Before stepping down, Delaney, appearing on a local radio station ruffled a few feathers of his own when he raised an alarm that some former officials at the bank were indebted to the institution.

Delaney named former Chief Executive Officers, Mr. Francis Dennis, Jr., and Mr. Elie Saleeby, the first Executive Governor of the Central Bank of Liberia. FrontPageAfrica has also gathered that while the CBL and the government are open to naming and shaming debtors to the LBDI, some high-profile names including Emmanuel Shaw, an advisor to President George Manneh Weah, who is said to be among those owing the bank, may make it difficult to recoup some of the funds owed. The late John Gbedze is also said to have been indebted to the bank of more than US$1 million at the time of his death.

Despite its former boss’s revelation, the LBDI released noted that it respects the confidentiality requirement of a financial institution and shall at

all times use appropriate legal remedies available under the laws of the Republic of

Liberia in pursuing defaulting borrowers.

 It furthered that the LBDI disapproved the dissemination of what it termed as a Fabricated list of defaulters, adding, that the Bank has at no time issued or caused to be issued such a list.

The Bank has further called on the public and media institutions as well as social media platforms not to accord the said list any relevance.

It stressed that doing so, has no association with the bank.

At the same time, LBDI has assured the public that the accounts and any account

information of its customers remain confidential at all times, subject only to the

Central Bank of Liberia and other legal requirements.

Meanwhile, the LBDI has issued a strong thread of taking legal action against any individual or media outlets, that it said will dare engage in the said mischievous act of associating the bank’s name with said publication.