Monthly Archives: June 2018

President Weah Submits Bill For African Export-Import Bank

The Plenary of the House of Representatives has mandated its Committee on Banking and Currency and Judiciary to scrutinize a legislation seeking the establishment of the African Export-Import Bank (AFREXIMBANK) in Liberia. “I am pleased to resubmit to your Honorable Body for ratification a bill titled: An Act ratifying the agreement for the establishment of the African Export-Import Bank (AFREXIMBANK),

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CBL Places Five ‘Troubled’ Insurance Companies On Radar

The Central Bank of Liberia (CBL) has placed five insurance companies under provisional administration. The companies, according to CBL assessments, have significant capital deficits and have consistently fallen below the capital requirements for licensed insurance companies since the first quarter of 2017. The CBL named the affected insurance companies as African Insurance Corporation of Liberia (AICOL), Capital Express Assurance Company

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Legislative Joint Budget Committee Ends Budget Hearing

Members of the joint budget committee today adjourned the budget and expenditures hearing of ministries and agencies. The budget and expenditures hearing is intended for government institutions to explain and defend additional funding allotment in the last and current budget year. According to the chairman of the Joint Budget Committee, District # 5 Rep. Thomas Fallah, most government institutions heads

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NaFAA Gets Tough, Levies US$50,000 Fine On Fishing Company For Unauthorized Importation

The National Fisheries and Aquaculture Authority (NaFAA) has levied a fine of US$50,000 on the Management of Africa Zhong Sheng Hai Fishing Company for smuggling a whole consignment of fish on the Liberian Market. According to NaFAA press release, the operators of the Africa Zhong Sheng Hai fishing Company on June 8, 2018, secretly offloaded huge consignments of fisheries products

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Ex-Employees Demand Removal of LRA Commissioner General

Some aggrieved former employees of the Liberia Revenue Authority (LRA) early yesterday assembled in front of the Foreign Ministry on Capitol Hill in Monrovia, calling for the replacement of LRA Commissioner General, Madam Elfreda S. Tamba. The Foreign Ministry plays host to the offices of President George Manneh Weah. According to the head of the group, Samuel Richard Harmon, the

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