Former CBL Governor ‘Vindicates’ Legislature In Missing 16 Billion Saga


With the atmosphere still being calm as the foreign investigators probe the infamous missing 16 billion saga, former Central Bank (CBL) Governor, Milton Weeks has revealed that the Legislature was not communicated to following the decision to print an additional ten billion Liberian dollar bank notes which were intended to replace mutilated notes that were in circulation into the country’s local economy.

Before this statement was made by the former CBL Boss, he had been on record of repeatedly stating that he had affirmation from the Legislature and from former President Ellen Johnson-Sirleaf to go ahead in printing an additional 10 billion on the already 5 billion bank notes that were earlier agreed upon.

Mr. Weeks stalling revelation was made on Thursday, November 8, 2018 in the joint chambers of the legislature upon invitation from the House of Representatives.

According to the former Governor, the Board of Directors having received authorization from the Legislature and being acknowledged by former President Sirleaf to print L$ 5 billion banknotes, used the opportunity through a documented Board Resolution to print an additional 10 billion Legacy notes (Liberian bank notes).

He said though the Legislature was not informed about the CBL Board decision, the intent for the additional printing was not done for criminal purpose.

Mr. Weeks who is also under probe by the foreign investigators who were hired by the American Embassy near Monrovia, intoned that all of the monies that were printed including the L$5 billion and the additional L$10 billion which was brought into the country between 2017 & 2018, were deposited in the vault of the CBL.

“As head of the CBL by then, the Board of Directors of the Institution reached a resolution to print an additional billion dollars banknotes in the hope that we were going to address the prevailing challenges at the time. Yes, we did not seek permission from the legislature but it was done with a good intent,” he averred.

This statement of the former CBL governor created serious outburst among Lawmakers who were in the joint chambers with many recommending that he be jailed for his action because it was highly criminal.

Howbeit, the former CBL Boss maintains that his action was not taken alone and that it was a “Board Decision.”

Meanwhile, following the cross-examination of the CBL Governor by Lawmakers, members of the House of Representatives unanimously agreed to reschedule Mr. Week’s appearance for Monday, November 12, 2018.

Also, the House of Representatives has invited former Board Members and Deputy Governors of the CBL as well as past and current Finance and Development Planning Ministers to respond to queries coming from their respective constituencies concerning the missing billions saga.

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