Monrovia – As the investigation into the alleged L$16 billion continues, some members of the 54th Legislature are calling for the appearance of former Liberian President, Ellen Johnson Sirleaf before that august body to provide clarity on who authorized her administration to print additional extra 10 billion Liberian dollars.
Report by Gerald C. Koinyeneh, [email protected]
There have been series of ‘blame shifting’ between members of the erstwhile 53rd Legislature and Ex-President Sirleaf over who authorized the printing of L$10 billion between 2016 and 2017, something many believe is the catalyst behind the crippling economy and the root cause of the current missing money debacle.
Madam Sirleaf, angrily responding to Information Minister Lenn Eugene Nagbe’s assertions that the Weah-led government was investigating an alleged missing L$16 billion, and that President Weah was never kept apprised with the new printed bank notes by the past administration, said no money printed during her administration ever got missing and that all actions taken to print money during her tenure was legitimate.
She also maintained that the 53rd Legislature was aware of the printing of the additional L$10 billion banknotes to replace the legacy banknotes (Liberty) printed during the Charles Taylor’s administration.
But Montserrado County District #8 Representative, Acarous M. Gray debunked Madam Sirleaf’s statements and said that the 53rd Legislature did not sanction the printing of the additional ten billion Liberian dollars, something he said the former President needs to be questioned for.
“I want to say to you that President Sirleaf is not off the hook from facing the Legislature. We will serve a communication to that effect. I can assure you and guarantee you that I will lead the process. We will also lead a process wherein all line ministries and agencies of government including NOCAL where President Sirleaf took full responsibility of the mess there to be audited,” he said.
At a press conference on Sunday, September 23, Gray presented series of documents claiming that former President Sirleaf and the former Central Bank Governor, Milton Weeks printed the excess banknotes without the consent of the 53rd Legislature.
He contended that the Legislature – both Houses of Senate and Representatives in 2016 carved a resolution instructing the Ellen Johnson Sirleaf-led administration to print five billion Liberian dollars to augment the existing legacy notes.
The resolution, he said called on the CBL to print five denominations including 500 (2 million pieces totaling L$1 billion), 100 (26,250,000 pieces totaling L$2.625 billion) 50 (20 million pieces equaling L$1 billion) 20 (Ten million pieces totaling L$200 million), 10 (I million pieces totaling L$100 million) and 5 (15 million pieces equaling L$75 million).
Meanwhile, in a communication displayed by Rep. Gray during the press conference and dated July 19, 2017, a copy in the possession of this paper, the Legislature authorized the Central Bank of Liberia, “to replace the legacy notes completely with the newly printed banknotes so that there will be a single type of Liberian currency, thus facilitating proper control of the money supply.”
The Legislature, in the document also authorized the CBL to introduce coins in lower denomination into the economy to allow fractional transaction which could help to minimize inflation.
The Lawmakers, in the communication, did not mention a specific volume to be printed by the CBL but mandated the Central Bank “to furnish the Legislature with the appropriate details of the volume and denominations of the replacing bank notes prior to the printing and the minting of coins.”
But Gray, in his argument, contended that the CBL did not keep the Legislature appraised with the amount of money printed, rather colluded with then President Sirleaf and printed an unspecified amount, thus violating the Constitution of Liberia.
Rep. Gray: “What is disgusting is that former Governor Weeks said that the Central Bank’s Board of Governors carved a resolution to print the additional banknotes. How would the CBL’s Board carve a resolution? It is the National Legislature that should carve a resolution and not the Board of Governors. But these things were done clandestinely without the acquiescence of the Plenary of the 53rd Legislature.”
“So, for President Sirleaf to get on the BBC and argue that the Legislature gave that authority which she affixed her signature to Governor Weeks, is not only disgusting but is disingenuous. It is a black lie and is extremely dangerous to the forward match of our country,” he vented.
Another lawmaker of the 54th Legislature, Rep. Marvin Cole (Bong Dist. 3), earlier called for the appearance of the ex-Liberian leader before the plenary of the House of Representatives at the eminent self-recalled session of the Legislature.
Rep. Cole told a group of reporters over the weekend that he has already forwarded a communication to the House’s Plenary through House Speaker Bhofal Chambers to invite the former President to give clarity on the printing of the additional 10 billion Liberian dollars banknotes.
“To go beyond that without the approval of the Legislature, no President has the authority, not even Ambassador George Weah who is the sitting President does not have such authority to print a single banknote of this Republic without the approval of the Legislature. We are trying to prevent bad precedent being set,” he said.
Meanwhile, this paper has reliably learned that in order to aid the ongoing investigation surrounding the alleged missing L$ billion saga, there are plans by the Liberian National Police and other agencies involved with the investigation to invited former President Ellen Johnson Sirleaf for questioning.
According to higher-ups in Government, findings from the ongoing investigation so far show that President Sirleaf was knowledgeable about the printing of excess ten billion Liberian dollars banknotes – twice the five billion mandate given by the Legislature to the Central Bank of Liberia (CBL) through a resolution.
