Capitol Hill, Monrovia – Rep. Dixon W. Seboe (CDC, Montserrado District #16) has alarmed that “uninformed and baseless” comments by his fellow lawmaker, Rep. Yekeh Kolubah (NPP, Montserrado District #10) is posing an unprecedented security risk to the banking sector in Liberia.
Rep. Seboe, who chairs the Banking and Currency Committee of the House, in a communication to plenary last week alleged that Rep. Kolubah stated on a local radio station that he has proof that the Government of Liberia has printed Liberian currency and imported via Kenya Airways, and that the government, along with some members of the Legislature was involved in money laundering.
Hon. Kolubah has denied the allegation and said he was misquoted by his colleague.
The Montserrado County District #16, furthered that Rep. Kolubah’s statement does not only pose a security risk on the banking sector as customers will be expecting to get Liberian dollars which have been in short supply on the market in recent times, but it poses a “political risk on the entire country.”
Seboe noted that “considering how porous the Liberian society is in terms of information dissemination, Rep. Kolubah’s statement has the propensity to creating a serious stir in the market which could cause political unrest going into the festive season if people are not able to get their money that he has presumed to have been printed and brought into the country.”
Excerpt of Rep. Seboe’s Communication: “… the statement of our colleague is grave and I plead that necessary action from plenary be taken to bring this situation under control. As leaders, we must be careful and responsible when we make statements that are tantamount to putting our entire country at a political and security risk.”
Giving further explanation following the reading of his communication, he added every commercial bank has corresponding backing relationship with other commercial banks outside Liberia.
And since the CBL has the sole authority of printing and importing money into the country, these commercial banks contacted the CBL to facilitate the process of importing a consignment of money worth several million United States Dollars their sister banks.
“It is a normal banking operation. For one of our colleagues who is a national leader to go on national radio while we are still discussing the approval to make the assertions that monies have already been printed, this does not just denigrate us, the 54th Legislature, but has immense propensity to cause stir as we go toward this festive season,” he asserted.
Meanwhile, when given the opportunity to respond to his colleague’s allegations by Speaker Bhofal Chambers following the reading of Rep. Seboe’s communication by Chief Clerk Mildred Sayon, Rep. Kolubah immediately denied the allegation and said he was misconstrued.
According to Rep. Kolubah, he was informed by a source that a huge sum of money believed to be newly printed currency had arrived at the Roberts International Airport via Kenya Airway and was headed to the Central Bank of Liberia (CBL).
Based on the information, he explained that after he was called up by the presenter on OK FM, he warned that if the information that the government has imported newly printed currency without legislative approval, the action would be illegal and tantamount to money laundering.
“I said if it is true that money is printed and entered here without the Legislature consent, then that is money laundering. I said it and I stand by my statements,” he responded.
He further noted that if his statement was offensive enough to warrant prosecution by his colleagues, then they should go on with it. “But he was elected to speak for his people and no amount of threats will stop him from speaking out against the ills of this government.”
Following a brief deliberation on what the way forward, Speaker Chambers ceased the argument and noted that since there was no evidence, video or audio to implicate Rep. Kolubah, the matter should be laid to rest.
He said they have been called to discuss important issues on national concerns and there was no need for distraction.
He, however, cautioned his colleagues to stop making ‘angry and long speeches of unjustifiable accusations’ against the Government.
“I would caution all of us against angry long speeches of accusation that may be unjustifiable. We as leaders of this country must desist from those acts,” the Speaker advised.