FrontPageAfrica

    Liberia: Tension Mounts as Political Actors Predict Vote-rigging and Threaten Dire Consequences

    Front Slider September 25, 2023

    …

    Liberia: Main Suspect in RIA Drug Bust Absconds on Asky Airlines

    Front Slider September 25, 2023

    …

    “I Will Lead Liberia To Lasting Prosperity” – Female Presidential Candidate Sara Beysolow Nyanti Promises

    September 25, 2023

    Liberia: Sen. Dillon Pressures NEC For Final Voter Roll

    September 25, 2023
    Facebook Twitter Instagram
    Trending
    • Liberia: Tension Mounts as Political Actors Predict Vote-rigging and Threaten Dire Consequences
    • Liberia: Main Suspect in RIA Drug Bust Absconds on Asky Airlines
    • “I Will Lead Liberia To Lasting Prosperity” – Female Presidential Candidate Sara Beysolow Nyanti Promises
    • Liberia: Sen. Dillon Pressures NEC For Final Voter Roll
    • Liberia: Cllr. Charlyne M. Brumskine and Mrs. Cummings Lead ANC Campaign Activities in the County
    • Liberia: “Inconsistent Electoral Procedure,” EFFL CIC Gonqueh, Throws Jabs At ECOWAS, Others For Being “Tight-lipped”
    • Federation of Liberian Youth Expresses Deep Concerns over Recent Statements Threatening Peace Ahead of General and Presidential Elections
    • Stakeholders Validate Good Neighbor Policy for Sapo Park, Endorse Liberia’s Conservation Strategy
    Facebook Twitter Instagram
    FrontPageAfricaFrontPageAfrica
    • Home
    • Business
      • Made in Liberia
    • News
      • Videonews
      • People & Innovation
      • Cartoon
    • Politics
    • Sports
    • Op-Ed
      • Press Release
      • Letter From Editor
    • Podcast
    • County News
    • War Crimes
    • Diaspora
    • More
      • Interview
      • Health
      • Editorial
      • Obituary
    FrontPageAfrica
    Home»Opinion»Letters & Comments»Central Bank Regulation: Another Extortion Scheme

    Central Bank Regulation: Another Extortion Scheme

    FPA Staff ReporterBy FPA Staff ReporterDecember 7, 2016 Letters & Comments No Comments2 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email

    The Editor,

    Isn’t the Central Bank’s new regulation another government extortion scheme?

    Under the Central Bank’s regulation# CBL/RSD/004/2016, recipients of foreign remittances (from the USA) are forcedto accept 25 percent of their money in worthless Liberian Dollars and 75 percent in U.S Dollars.

    (Re-“Central Bank of Liberia Issues New Regulation on Money Transfers”)

    But the new regulation for doesn’t apply to people with bank accounts.

    That means beneficiaries of foreign remittances with local bank accounts will receive all of their money in U.S Dollars! How sweet.

    On the other hand, Poor Joe Blow, without a bank account (unbanked), is screwed! He has no choice, but to bend over and hold his ankles! Why?  

    Because if you’re unbanked and you don’t want their worthless money, you’re forced to take it (Liberian money)!

    And the reason they’re forcing you to take it, is because nobody, including the CBL, wants worthless Liberian Dollars!

    Look. It’s the same as someone putting gun to your head and taking your good money (U.S. Dollars), and giving you their play-play money (Liberian Dollar) in return.

    But don’t you think that’s extortion? I do.

    Using the force of law (government regulation) to extort ordinary citizens of their money is a despicable criminal act. 

    The CBL Governor (Weeks) should be arrested for attempted extortion in the first degree!

    Good luck behind bars, chief! Raw rice and Palm wine will be waiting there for you!

    Martin Scott,
    Atlanta, Georgia,
    Remitter U.S Dollars to Free Loading Family in Liberia

    Martin Scott
    FPA Staff Reporter
    • Website

    Keep Reading

    Four Injured in UP, CDC Clash as Venue for Political Activities Conflict

    2023 ELECTIONS: OPEN LETTER TO ALL LIBERIAN POLITICIANS

    OPEN LETTER OF REQUEST TO OUR LEADERS

    “Rep. Rustonlyn Suacoco Dennis’ Open Letter to the US Ambassador Mr. Michael MCcathy – Part 1

    Liberia: Sen. Prince Johnson Warns Pres. Weah against Dismissing Nimbaians from Government

    Liberia: An Open Letter To President George Manneh Weah From Lofa County

    Loading...
    Recent Posts
    • Liberia: Tension Mounts as Political Actors Predict Vote-rigging and Threaten Dire Consequences
    • Liberia: Main Suspect in RIA Drug Bust Absconds on Asky Airlines
    • “I Will Lead Liberia To Lasting Prosperity” – Female Presidential Candidate Sara Beysolow Nyanti Promises
    • Liberia: Sen. Dillon Pressures NEC For Final Voter Roll
    • Liberia: Cllr. Charlyne M. Brumskine and Mrs. Cummings Lead ANC Campaign Activities in the County
    FrontPageAfrica
    Facebook Twitter Instagram Pinterest
    © 2023 FrontPageAfrica Online. Designed by FrontPageAfricaOnline.

    Type above and press Enter to search. Press Esc to cancel.