MONROVIA – Grand Kru District 2 Representative, J. Fonati Koffa, strongly believes that his unique skill set of experience and competence would greatly help in accelerating the legislative rebranding which was promised at the beginning of the 54^th Legislature in 2018, if he is elected Deputy Speaker.

Rep. Koffa who is yet to announce his bid for the post says he is consulting with his colleagues in the House of Representatives and will weigh the pros and cons from the consultations before coming up with an official announcement.

“I decided to enter into consultations with my colleagues because I believe I bring a unique skill set of experience and competence into the upper echelon of the house to compliment the leadership so as to steer the acceleration of legislative rebranding which was proffered at the onset of the 54th. Before I enter my name into nomination, it is important that I undergo the consultative process with those who will actually be electing the deputy speaker,” he said.

Hon. Cllr. Koffa chairs the House Judiciary Committee and by ranking, he is considered as the fifth in command at the Legislature.

Though Cllr. Koffa wouldn’t confirm or deny, sources close to him informed FrontPageAfrica that he is being backed by 25 of his colleagues so far, who have consulted him to contest the seat.

The Deputy Speaker post was made vacant by the election of Rep. Prince Moye to the Liberian Senate.

“I decided to enter into consultations with my colleagues because I believe I bring a unique skill set of experience and competence into the upper echelon of the house to compliment the leadership so as to steer the acceleration of legislative rebranding which was proffered at the onset of the 54th. Before I enter my name into nomination, it is important that I undergo the consultative process with those who will actually be electing the deputy speaker.”

Rep. J. Fonati Koffa, Chairman, Judiciary Committee. Grand Kru County District 2

One of his colleagues who strongly believes that Cllr. Koffa is best suited for the post told FrontPageAfrica on the basis of anonymity, “Hon. Koffa is a man of very good comportment. He has earned the respect of all his colleagues in the House. And I hope our colleagues in the House will see reason to have him elected as Deputy Speaker. His experience and character would enhance the quality of leadership of the Legislature.”

Another lawmaker from Lofa County proffered, “What we need at the leadership of the House of Representatives is quality leadership and characters that earn respect of others and stakeholders. Rep. Koffa represents just that, that is why I would support him.”

Last week, Rep. Vincent Willie was the first to announce support for an aspirant for the post.  For him, Rep. Koffa is well-matched for the leadership post. He made the pronouncement on a local radio station.

Who Is Rep. Koffa?

Cllr. Koffa is a graduate of the University of North Carolina School of Law at Chapel Hill, where he obtained a Juris Doctorate (JD) degree in Law. His educational pursuit took him to Raleigh, North Carolina State University, where he obtained a Master of Public Administration (MPA) and a Bachelor of Public Administration (Cum Laude) with concentration in Urban Planning, from Shaw University, Raleigh, North Carolina, USA. 

Hon. Koffa began his legal career in the United States in 1998 in private practice and then moved to Liberia in 2009 and became a founder and Managing Partner of the International Law Group (ILG), now one of the emerging corporate and government firms in Liberia. He was admitted to the Supreme Court Bar of Liberia as valedictorian of its Class of 2014.

Prior to his election as Representative he served as Minister of State without Portfolio and Legal Advisor to former President Ellen Johnson Sirleaf from 2014 to 2016.

He began his entry into politics as a founding member of the Liberty Party, the third leading opposition party in Liberia where he was eventually elected as Chairman from 2011 to 2014. During his time as Chairman, he oversaw the growth and expansion of the party including the increase of seats the party held in the National Legislature. He resigned from the Liberty Party in 2018 and joined the Coalition for Democratic Change where he serves as a member of the Executive Council.

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Cestos City, Rivercess County- A polling staff identified as Rancy Fanciah, assigned in Rivercess County has admitted that over 40 valid votes belonging to senatorial candidate Steve Tequah were counted invalid.

Mr. Tequah, who came second in the race behind former Superintendent Wellington Gevon Smith, the declared winner, had complained that several votes cast in his favor were marked invalid at several polling places in the county.

Fanciah, who served as a presiding officer at the Wruah Town voting precinct, is heard telling the Election Magistrate of Rivercess County in an audio recording that the polling staff were forced to declare Mr. Tequah’s votes invalid because of pressure from some of Mr. Smith’s supporters.

According to him, because of the absent of security personnel at his center and for fear of his and staff’s lives, he decided to place the votes as invalid and later informed the candidate of the situation.

“Following the close of the voting process, we decided to do sorting and counting at which time we called the attention of the parties’ agents. When we started the counting, there were ballots that some voters marked the candidate’s face or logo and I told the agents that said ballots should be counted as valid but some of them insisted that it was invalid and because they were more than us and we had no security at the center, we had to count it as invalid,” Fanciah was heard explaining in the audio.

In the wake of Fanciah’s revelation, Mr. Tequah immediately filed a complaint to NEC’s local office in Rivercess but was denied audience by the Election Magistrate in the area, David Logan on grounds that the document was not filed within the statutory period.

Tequah, then filed a Bill of Exception before the Hearing Officer at the National Elections Commission’s office in Monrovia, claiming irregularities in the counting process and requesting a recount at the Wruah Town Voting Precinct.

According to the NEC, Tequah came second in the county’s senatorial race behind declared winner Wellington Gevon Smith with 116 votes.

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Monrovia – UNHCR, the UN Refugee Agency’s Regional Bureau Director for West and Central Africa, Madam Millicent Mutuli has completed a humanitarian assessment mission of refugees arriving from Côte d’Ivoire into Liberia, especially concentrated in the areas of Nimba and Grand Gedeh counties.

She was accompanied by the Executive Director of the Liberia Refugee Repatriation Resettlement Commission (LRRRC) Hon. Rev. Festus R. B. Logan and UNHCR Liberia Country Representative, Madam Roseline Okoro between Friday 4 December – Sunday 6 December 2020.

The UNHCR Regional Director also had the honor of the UN Resident Coordinator, Mr. Kingsley Opoku Amaning to accompany her during her visit to Behwalay in Nimba County. The field mission was part of the UNHCR Regional Director’s visit to Liberia where she held meetings with various line ministries.  

Speaking to refugees in the two counties especially in Saclepea, Behwalay and Dubuzon in Nimba County, as well as B’hai border village in Grand Gedeh County, Executive Director Logan said the purpose of the UNHCR Regional Director’s visit is to assess the humanitarian situation of the Persons of Concern (POCs), listen to their stories which will form the basis of government and interagency interventions to be made in areas including protection, food, shelter, health, water, sanitation and hygiene.

He assured the new arrivals that the Government of Liberia will remain committed to international conventions and protocols (1951 Refugee Convention and its 1967 Protocol, 1969 OAU Convention) and will provide international protection and work closely with UNHCR to find durable solution for their plight.

Expressing their concern, a cross section of the refugees attributed their coming to Liberia as the result of post-elections fear.  The refugees appealed for assistance in areas including food, shelter, water, sanitation and hygiene, education and healthcare amongst others.

Responding, UNHCR’s Regional Bureau Director for West and Central Africa, Madam Millicent Mutuli said, with the opportunity to meet Ivorians seeking refuge in Liberia and having listened to their concerns, she would share the messages from Ivoirians in Liberia and the situation on the ground with authorities in Côte d’Ivoire and do her best to convey and find ways to facilitate pathways for eventual safe return. 

As part of the UNHCR Regional Director’s tour to Nimba County, the delegation visited the 93 newly constructed durable shelters, built to support the integration of Ivorian refugees in Bahn city. It is expected that on Wednesday 30 December 2020, the Hon. Minister of Internal Affairs will lead a delegation to inspect and handover these houses to the community.

As at 21 December 2020, the LRRRC along with UNHCR, the UN Refugee Agency has recorded about 21,519 Ivorian new arrivals in Liberia specifically in Grand Gedeh, Maryland, Nimba and River Gee counties. This is in addition to 8,270 individuals belonging to the existing refugee caseload (including nationals from different countries) amounting to a total of 29,789 Ivorian refugee population in Liberia.

The LRRRC is appealing to Liberians, philanthropists and humanitarian organizations to join the Government to assist in meeting the needs of the most vulnerable including the elderly, pregnant women, and unaccompanied children.

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Paynesville – The Government of Liberia, with support from the European Union and the Swedish Embassy has presented laptops and other digital learning equipment to 78 TVET instructors at public vocational institutions across Liberia.

The support is geared at strengthening teachers’ capacities from a manual system of preparing for classroom activities to a modern system.

The teachers had used sheets and pens for preparing their curriculum, which sometimes poses challenges for them, but with a computer system, they will be able to make corrections and setup their curriculum correctly.

Assistant Youth and Sports Minster for TVET, Malias Z. Sheriff told FrontPageAfrica Wednesday that the training is a five-year project targeting TVET teachers in some counties across Liberia.

The five counties include, Montserrado, Margibi, Sinoe, Maryland, Bong, Grand Cape Mount and Grand Gedeh Counties, among others.

He said the project is valued at 20 million Euros and intended to improve infrastructure development, strengthen teachers capacities and empower them.

“These teachers will leave Liberia and when they come back, they will have an opportunity to work for government for about four years,” Minister Sheriff said.

“They have already been placed on government payroll and will be given stipend in the respective countries.”

He said the teachers were to leave since last June, but due to COVID-19 crisis, their trip was delayed.

Minister Sheriff, however, attributed the program to the endeavor of President George Manneh Weah, during his visit to European, when he just took over.

For his part, the Acting Ambassador of the European Union, Theodorus Kaspers said that youth are exposed to high level of unemployment and underemployment, while most are working in unskilled or low skilled jobs sectors, only to survive.

According to Mr. Kaspers, because over half of Liberia’s population is youthful, he sees it important to strengthen their capacities in development activities.

“I am gratified to TVET teachers who made it through the vetting process and will have the opportunity to travel to Kenya or Zambia for studies,” Kaspers averred.

According to him, though government recognizes that increased access to relevant, high quality technical and vocational education and training is key to changing youth challenges, significant investment is needed to make this becomes reality.

He further explained that when the EU first visited most TVET public schools, it was enough to highlight the challenges, not only in terms of facilities, but also pointing to modern equipment and vocational curriculum and capacities building of TVET teachers.

Kaspers added, that those trained by LAMCO and Bong Mining Company are already old and most have retired.

In an effort to address some of these challenges, he said that the EU signed a total of 20 Million Euro financial agreement with the government of Liberia in 2018 to support technical and vocational training education in five counties.

Additionally, in 2020 Kaspers said EU signed another financial agreement of 12 million Euros of which 6 million will be added to the Youth Rising Project, implemented by UNIDO and support to private sector TVET implemented by GIZ.

“We hope that you can serve upon return as instructors in TVET schools and as master trainers for vocational instructor training that will be established with support from programmed at BWI and other campuses,” Kaspers said.

Meanwhile, while Kasper noted that EU will cover all related expenses for the training. He believes it will be essential for those who are successful on the training to make personal commitments to remain in the school system for certain period after their return.

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Monrovia – Christmas is around and ordinary Liberians are complaining “there is no money” in the country. Despite this, few places still have small crowds who are trading. Mechlin Street in Monrovia is one of those places where buyers, onlookers and thieves have gathered.

It seems the sellers are far more than the buyers. Sellers such as value boys, auction goods sellers, wheel barrow sellers and other petit traders have spread their goods on the motor roads and preventing vehicles, including kehkeh (tricycles) and motorbikes from plying.

No Money in Liberia

Florence Washington, a petit trader, who sells used book bags, is standing under the scorching sun while calling out to passersby to come and buy book bags for their kids. She sees no sign of anybody coming to ask nor to buy any; she reluctantly sits and wipes the sweat dripping down her face.  

Out of frustration, she vented her anger on the government: “Just imagine school is about to open and parents are not even buying book bags for their children. At least during Ma Ellen time, when government employees used to take pay, we used to see it because money was everywhere, but now when government workers take pay we do not even feel anything because they can’t get their own money from the banks or from the ATM machines, so where are we heading?” she asked.

“Therefore, let the government postpone the Christmas because we do not know where our money has gone. Guinea, Ivory Coast and Ghana are not using our money, so where is our money going? There is no US dollars in the banks and nothing is on the market, much to talk about the Liberian dollars, besides torn bank notes. So, let the government do something to improve the economy. I voted this government into power since 2005 and 2011.”

She thinks the Liberian currency is not circulating but is only in the hands of one group of people, who are the big government ministers while the ordinary citizens are suffering.

“President [George] Weah has to stop listening to Samuel Tweah and Nathaniel McGill, because they keep lying to him and spoiling our government. Why should one group of people just be eating the country’s money and we the common people who voted Weah into power for our lives to change be suffering?” She reminded the President that he had said during his inaugural address that Liberians won’t be spectators in their own economy. She added sadly, “But we are more than spectators in our own economy. I am really disappointed in this government. I used to stand in the store and pay for three or four bails of dongar flag (used clothes) book bags, during Ma. Ellen time. But right now, I am at the bottom of poverty; I cannot even afford to buy one bail of cloth to sell,” she said.

 She added that President Weah promised to bring better changes instead he has changed the country from “worse to ridiculous.”

“I want to tell Weah to change some people in his government. He told us players were on the bench to replace others, but it is over three years and we can’t see those players. Sad to say, but  Ma Ellen time, was far better than President George Oppong Weah administration. We used to receive our money from the bank and even when we used to be jammed and ask our friends to borrow,  they used to do lend us money, but this time, everybody is crying because no money. No money in the banks and no money in the ATM machines, can you imagine?” she stated.

Recently, the US Embassy put out an alert to US citizens traveling to Liberia to come with at least US$7,000 because there is no money in the banks and ATMs in the country do not have money to pay.  

Hawa Konneh selling children’s clothes, complained about business being very slow. She opined that sellers were more than buyers.

She spends nearly L$1000 to and fro her home daily in New Georgia to  come to Waterside in Monrovia, the trading center, to sell.

“Sometimes when I sell two children’s shirts and take out transportation, nothing is left with me to carry home. I come from a poor background; my parents do not have money to support me so I had to drop from school to sell because I do not have any help coming from anywhere. We need our President’s support. He needs to help us youths to do business,” she said

 Cebell Kotell, who had come to buy told this newspaper that all of the things she had planned on purchasing for the holidays can’t be gotten now as the banks told her they don’t have enough money to give her the amount she needs.

“It is not good for your country to not have money. Therefore the Government should try to put things into place regarding this money business, so bankers can get their money from banks and ATM machines,” she said.

Stephen Massaquoi, a forex exchanger on Broad Street, said when the exchange rate drops or goes up, it does not affect him, because the country’s economy is determined by the Fulani and Lebanese businessmen.

He accused these foreign businessmen of sometimes holding onto the Liberian dollars.

He thinks the money isn’t circulating because these big business people are keeping the money in their various homes instead of the banks. “They prefer to keep their own money so they determine the rate. When they want the rate to drop, they hold fast to their money but as the season is coming now, they have put out the Liberian dollars because they are now buying the US dollars from the market to buy their goods. So, we cannot blame the government but the foreign business owners.”

He disclosed that more and more people are coming to them to use their mobile money service because they (people) are unable to get their money from the banks.

The post Liberia: “Ivory Coast, Guinea or Ghana not Using Our Money, So Where Is Our Money Gone?” – Traders’ Wahala No Christmas Money appeared first on FrontPageAfrica.

SALAYEA, Lofa County – Rural towns and villages are now using ForestLink, a new app, to track illicit forest operations and deforestation across Liberia, including illegal logging and mining, and poaching in their communities. The tool also makes it possible for them to store and share information on mobile phones in a short period of time from the places those unlawful activities are reported.

By Varney Kamara with New Narratives

“This is one better way that we can improve the forest sector management and governance process,” says Samuel Kwenah, the contact person for the extractive industry and human rights at Save My Future Foundation (SAMFU. “This is a very good system that will help to ensure transparency and accountability in the forest sector. We are going to support it to the fullest.”

Developed by Rainforest Foundation (RFUK) in 2015, ForestLink is part of the group’s goal of strengthening community oversight in managing their forest resources. The technology forms part of growing international efforts aimed at ending illegal timber sales across West Africa’s tropical rainforest. Liberia is one of the latest countries where the app is being used. It has been in use in Cameroon, Democratic Republic of Congo, Ghana and Peru.

The app is a breakthrough for communities affected by logging concessions, who struggled over the years to keep companies and government in check, and intruders out of their forests. User-friendly, it asks the yes or no questions and can record details such as the diameter of trees. It has room for report on violations of forest laws and regulations.

“We are very excited and upbeat that the technology would make a significant difference. Tracking violations in the past proved to be difficult as volunteer would manually collect information from the field, come to Monrovia before preparing their reports,” says Roland Harris, the head of Independent Forest Monitors (IFM), the civil society group that is training community volunteers to use the app. “This took a lot of time, resources, and energy. By then, it was difficult to validate whether or not these reports were scientific or evidence-based.” 

Since its introduction in Africa three years ago, the technology has made important inventions in helping Cameroonian and Peruvian authorities halt several instances of illegal forest operations and timber sales there. That is starting to happen in Liberia, too. Several violations have also been tracked in Lofa, Nimba, Grand Gedeh, Sinoe, and Gbapolu counties in the last 10 months, community volunteers say.

“According to reports that we have in our possession, logging companies are seriously operating out of their concession areas,” says Washington Kpawulu, a volunteer from the Mulbah Willie Village, situated four kilometers northeast of the Salayea District.

Kpawulu did not say what logging companies were involved and where the irregularities were recorded. However, Harris announced that that information on the violation would be released in the group’s first major report on the new technology in the first quarter of next year. Harris and team had planned to launch the report at the end of last month but did not meet deadline.

Challenges

But Harris says there are resource and logistical constraints, a need for mass awareness on the system across communities, and more volunteers. However, 22 local monitors have trained to operate the mobile technology in 12 forest communities, according to him.  

“We have over 100 forest communities that we have to reach with this technology,” Harris says. “At the end of this November, we are going to engage in mass community awareness to tell our people about the potential benefits of this new system.”

Hope

Liberia has a bloody history with illegal logging, which is still an issue today.

During the country’s civil war (1989 – 2003) rebel factions used proceeds from illegal timber or “logs of war” to fund their wars. The United Nations imposed sanctions on Liberia’s timber in 2003 in an effort to stop the practice. Liberia rewrote its forestry law and placed communities at the core of the new era. A transparent process was put in place using barcodes to track logs from harvest to export. The codes are monitored by Société Générale de Surveillance (SGS), an independent Swiss firm. It was an integral part of the country’s forestry reform that led to the UN lifting of the sanctions in 2006.

The 2006 National Forestry Reform Law of Liberia gives communities the right to participate  and benefit from their forest resources. However, implementation of the statute has been a problem. A widespread of abuse of logging contracts led to a scandal in 2013, the biggest since the end of the country’s civil conflict. Eight officials of the Forestry Development Authority (FDA), including Moses Wogbeh, its managing director were indicted. A report by Global Witness—an international NGO that helped steer Liberia’s forestry reform—last year found that logging companies were exploiting community forestry.

Kpawulu of Mulbah Willie Village, which falls within Alpha Logging and Wood Processing Company’s concession area, says the app is already breaking  barriers and offers hope.

“I am happy that the arrival of this app has increased company compliance with community social development contracts,” he tells FrontPage Africa in an interview against the foggy, 119,240-hectare woodland between Gbapolu and Lofa counties. “Since the arrival of the technology, we can see that our market roads are being rehabilitated for the smooth movement of our people and transportation of goods.”

This story was in collaboration with New Narratives as part of our Land Rights and Climate Change Reporting Project. Funding is provided by the American World Jewish Service. The funder had no say in the story’s content.

The post Liberia: Communities Use New App to Track Illegal Logging appeared first on FrontPageAfrica.

MONROVIA – A joint fisheries enforcement and compliance team has begun touring fishing communities across Liberia with the aim of ensuring the collection of the remaining 2020 license fees and at the same time creating massive awareness for the payment of the 2021 fishing license fees.

The fisheries enforcement and compliance team comprising NaFAA, the Liberia National Coast Guard, Liberia Immigration Services, and the Liberia National Police is touring coastal beaches and also conducting sea patrols.

The tour is taking place in the nine coastal counties namely Montserrado, Bomi, Grand Cape Mount, Margibi, Grand Bassa, River Cess, Sinoe, Grand Kru and Maryland.

Currently a southeastern team is touring fishing communities in Grand Bassa County following its initial tour of fishing communities at Bassa Point fishing communities through Marshall City Margibi County.

Speaking upon the arrival of the fisheries enforcement and compliance team on the beaches of little Bassa Tuesday December 23, 2020, the Deputy Director General for Technical Services William Y. Boeh urged the local fishermen to cooperate with the CDC led-government by paying their 2020 fishing license fees.

Mr. Boeh who was accompanied by some technicians including Associate Directors Patrick Davies and Anthony Yokie stressed that no fishermen will go fishing without making full payment of their 2020 fishing license fees.

Mr. Boeh stated that the fishing fee is pivotal to NaFAA’s contribution to the national budget which impacts continuous development projects by the CDC-led government across Liberia.

Boeh further warned all fishermen who have not paid their 2020 license fees since January 2020 to immediately begin payment as their inaction is in complete violation of the 2019 Fisheries Law and Regulations of Liberia.

As a matter of enforcement, the NaFAA Deputy Director for Technical Services pointed out that “no fisherman will be allowed to go fishing beginning now until they make full payment of their 2020 fishing license fees to NaFAA staff in the counties or the Co-Management Association”.

More than 80 fishermen in little Bassa, and Bassa point fishing communities were ordered not to go fishing until they pay their 2020 fishing license fees.

Meanwhile, the joint fisheries enforcement and compliance team has a 24-day mandate from Director-General Madam Emma Metieh Glassco to tour of all fishing communities across Liberia to ensure the collection of the remaining 2020 fishing license fees and at the same time raise increased awareness for the collection of the 2021 fishing license fees.

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MONROVIA – For providing quality banking service to the Executive Protection Service, United Bank for Africa Liberia Limited has be honored by the Country’s elite Security Service.

The Certificate which read, “in recognition of your invaluable services to the Executive Protection Services, Republic of Liberia, under the leadership of Madam Nkechi Arizor, as managing Director of UBA, proved worthy our sincere appreciation and award you this certificate. Your honor and courage to duty brings credit upon yourself and the professional men and women of the entire UBA”.

The Executive Director of the EPS Trokon Roberts further placed the spotlight on activities of the bank that led to the recognition.

According to him, the timely handling of his entity’s payroll, the availability of numerous digital products which serves as an alternative to physically coming to the bank, and the great customer service were among the several reasons for said honor.

Director Roberts furthered that he was pleased with how happy and satisfied his entire staff are, with the selection of UBA as their banking institution.

Receiving the honor on behalf of the bank, UBA Liberia MD/CEO Madam Nkechi Arizor firstly commended her staff, saying “you all are the reason we are having all these great things.”

She pointed out that UBA is opened to continuously do business with both customers and prospects, while contributing to the growth and development of Liberia.

She called on Liberians and the business community in general to make use of several products been offered by the bank including, loans with lowest interest rates, investment banking among others.

United Bank for Africa is a pan African Bank with presence in twenty-three African Countries, London, Paris and the United States.

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Monrovia – The Central Bank of Liberia (CBL) has attributed the shortage of Liberian and United States dollar banknotes on the Liberian market to the reluctance of the Legislature to grant its request of printing the amount of L$7.5 billion and the COVID-19 pandemic that is ravaging the world.

The CBL statement comes in the wake of a warning from the United States Embassy in Monrovia to its citizens and permanent residents visiting Liberia of the difficulties in getting cash in the country.

The Embassy, in an alert to would-be travelers, noted that the banking sector in the country has been experiencing cash shortage over the last several months. It also noted that ATM machines often do not dispense money.

“As a consequence, it is difficult to obtain adequate cash supplies from ATMs and banks.  There are no ATM facilities for public use at the U.S. Embassy,” the Embassy stated.

As per regulation, travelers would have to declare cash amount of US$10,000 and above upon arrival in Liberia. Passenger may, however, be allowed to enter with US$7,500 or less.

In a statement release on Tuesday, the CBL acknowledged that that it is aware of the shortage of money in the banking system, particularly the limited supply of Liberian dollars, noting that it is unusual and can be attributed to the increased demand for Liberian dollars overtime, which has been exacerbated by COVID-19.  

“The Central Bank of Liberia (CBL) is fully aware of the current liquidity pressure in the banking system, particularly the limited supply of Liberian dollars. It is, however, worth noting that the pressure on the Liberian dollar this year is unusual and can be attributed to the increased demand for Liberian dollars overtime, which has been exacerbated by COVID-19,” the CBL said it the statement.

It continues: “In its effort to preempt this seasonal pressure, the CBL in 2019 forecast L$7.5 billion based on its analysis but was authorized to print only L$4.0 billion. This amount which was brought into the country in July this year, was inadequate to replace the current amount of mutilated banknotes and at the same meet the liquidity demand in the banking system. In spite of this constraint, the CBL has been strategically infusing the L$4.0 billion through the commercial banks with substantial amount already infused into circulation.”

As additional measure, the CBL revealed that it has been working with all key stakeholders, both in the private and public sectors, to mitigate the high demand of money, adding that the Bank is currently engaged with commercial banks and mobile money operators (MNOs) to promote the use of mobile money and other electronic forms of payment in addition to withdrawal of cash.

“The CBL wants to re-assure the public that it is doing everything necessary to ensure the availability of both US and Liberian dollar liquidity for the festive season. The Bank has also put into place a Liquidity Monitoring Framework, including the establishment of an Internal Liquidity Management Team to respond to the prevailing liquidity challenge.”

However, the CBL said in order for it to be able to exercise full monetary authority, it will need full autonomy over the printing of currency like most other central banks across the world.

It noted that the recent amendment of the CBL Act to give a three-year latitude to the Bank to print without frequent Legislative approvals is a positive step in the right direction.

‘Missing L$16 Billion’ Saga Impacts Legislature’s Reluctance to Approve

For sometimes now, the George Weah’s administration and the CBL have been seeking Legislative approval to print additional banknotes to address the problem of money shortage in the banking sector. The CBL in 2019 forecast L$7.5 to be printed based on its analysis but was authorized by the Legislature to print only L$4 billion.

The Bank protested that the money was inadequate to replace the current amount of mutilated banknotes and at the same time meet the liquidity demand in the banking system, but the lawmakers, who have been hugely blamed for allowing the CBL under the Governorship of Milton Weeks to print L$16 billion that that did not have any significant impact on the Liberian economy amid report that the money went missing, were not willing to authorize such huge amount.

Since then, several communications from the President and efforts by the CBL to get additional money printed have been futile.

In 2019, a recommendation by the Senate Committee on Banking and Currency chaired by Senator Marshall Dennis (Grand Gedeh), urging the Senate plenary to authorize the printing of Liberian dollars banknotes in several denominations and minting of coins was quashed following staunch opposition from several Senators including Oscar Cooper (IND., Margibi), Darius Dillon (CPP, Montserrado) Varney Sherman (UP) and Peter Coleman (CDC).

In its seven-count recommendations, the Committee requested that the plenary of the Senate authorizes the printing of new banknotes to “completely replace the ones on the market; that the banknotes should be printed in a high grade and carries more and sophisticated security features to prevent counterfeiting, and the likes; that the CBL confines itself to the proposition document submitted to the Legislature for the printing of the currency, especially the mode of exchange enshrined in the document, as well as other monetary policies designed to avoid missteps and mistakes in the past.”

The Dennis-chaired committee further recommended that the CBL put stringent policies and control measures in place to prevent hoarding, and other forms of economic sabotage; that the Senate deals with the CBL proposal to print the total amount of L$35 billion in various denominations including L$20, L$50, L$100, L$500, L$1000; as well as and coins be minted in the denominations of L$1, L$5, and L$10 as proposed by the CBL.

Immediately after the reading, Margibi County Senator Oscar Cooper, sharply reacted to the Committee’s report, questioning why the CBL should request to print L$35 billion, when the money in circulation is L$21 billion that needs to be removed from the market.

“What becomes of the difference of L$14 billion, which was not properly answered by the Bank Governor,” he queried.

“After the L$16 billion saga with the Liberian people, this money will fall on them if not managed properly. We as committee members did not have due diligence to debate this within committee. If this Senate votes to approve this L$35 billion, we will put the Liberian people in serious, serious financial jeopardy, because many financial and economic questions have gone unanswered.”

Senator Darius Dillon added: “Whatever we are doing now must be done with due diligence so that posterity can be kind to us. So colleagues, please let the Committee take this report back, and bring it to us after our return in January.”

The Chairman of the Senate Committee on Judiciary, Senator Varney Sherman (UP, Grand Cape Mount County), out rightly said he will vote against the printing of L$1,000 bank notes and the minting of coins.

Senator Sherman accused members of the Committee of “some fundamental issues it did not consider, such as the suggestion to the production of coins, which he said that the cost for producing coin is more than the value of the coin.”

“I will vote against L$1000 banknotes and coins. How do we have control if we allow them to keep L$35 billion in their vault? I am afraid that the Liberian people will not judge us well when they look at our immediate past history, as to how we managed L$10 billion, and then we tell them that we want to print L$35 billion,” Senator Sherman warned.

Although the CBL said in spite of the constraint, it has been strategically infusing the L$4 billion through the commercial banks with substantial amount already infused into circulation, the strategy seems not to be yielding fruitful results as Liberians are finding difficult to access cash at various commercial banks or are often served mutilated bank notes.

The post Central Bank of Liberia Says It Needed to Have Printed L$7.5bn to Meet Demand for Liberian Dollars appeared first on FrontPageAfrica.

MONROVIA – Renowned Liberian humanitarian, Dr. Daniel E. Cassell has awarded scholarship opportunities to the two kids of the deceased former employee of the Liberia Revenue Authority (LRA), Gifty Asmah Lama and Sylvester Lama.

Dr. Cassell is the President/Chief Executive Officer (CEO) of the Dr. Cassell’s Foundation in Liberia.

He is also a Licensed Professional Counselor (LPC) in Pennsylvania, USA, a Licensed Clinical Drug and Alcohol Counselor (LCADC) in New Jersey and the President/Founder of the Kwenah Professional Health Services based in the United States.

It can be recalled that on Thursday, October 2, 2020, the lifeless bodies of the Assistant Commissioner for Internal Audit and acting Manager for Tax Payers of the Liberia Revenue Authority (LRA), Albert Peters and Gifty Asmah Lama, were found in a vehicle on Broad Street in Monrovia during the early morning hours.

Making the pronouncement, Dr. Cassell disclosed that the two kids between the ages of four to six will attend any school of their choice from kindergarten until the completion of high school.

He recounted the educational journey of the fallen LRA employee.

He pointed out that the gesture, particularly the awarding of the scholarship, was intended to keep the dream of the beneficiaries’ mother alive at this time.

 “On behalf of the Dr. Cassell’s Foundation, I will like to extend this token to the kids during this festive season. In addition to this token, we will also like to extend to the legacy of your wife for the kids to start school. We will like to extend our foundation’s scholarship to the two kids from grade school to high school”.

Dr. Cassell also presented toys, including bicycles and others to the kids to encourage them to amuse themselves and have a fine time during this festive season.

For his part, the beneficiaries, through their father, Mr. Sylvester Lama commended the Liberian philanthropist for the awarding of scholarships and the presentation of toys to his children.

He expressed confidence that God will recognize and bless Dr. Cassell and his foundation for the gesture.

“On behalf of my late wife and kids, we highly appreciate the Dr. Cassell’s Foundation. What you have done for my family, only God Almighty will reward you. We want to be grateful to you and your family”.

Joy and excitement were seen on the faces of the kids as they listened to the pronouncement made and received their toys from Dr. Cassell.

The post Liberian Humanitarian Dr. Daniel Cassell Awards Scholarships, Present Gifts To Kids Of Deceased Lra Employee Gifty Lama appeared first on FrontPageAfrica.