The Central Bank of Liberia (CBL) has announced an ongoing engagement with 209 of its contractors and consultants whose employment contracts are set to end following the near successful completion of the Currency Reform project mandated by the 54th National Legislature in May 2021.
According to the CBL, the currency reform exercise, which was initiated in 2021, has largely ended with the project goals achieved and its objectives relatively met. As a result, the contracts with the staff, as per the definite term employment agreements, are coming to an end on their stipulated dates.
In a meeting with the end-of-contract separated contractors and consultants on August 27, 2024, Acting Executive Governor, Henry F. Saamoi, acknowledged the dedicated contributions of the staff, stating that the CBL management is committed to the payment of the unexpired contractual period and providing a token to all the contractors, as well as holding an appreciation ceremony to certificate staff for their invaluable contributions.
Saamoi also announced a scholarship for those of the contractors who are high school graduates to return to school, stating that “it’s a difficult task, but whenever faced with difficult decisions, consider the country first.”
The CBL management has assured that while the Currency Reform project has come to an end, they remain committed to exploring future opportunities for the end-of-contract separated contractors and consultants to participate in a competitive recruitment exercise at the Bank where their skills and expertise may be applied.
The bank has emphasized its dedication to ensuring transparency in this exercise, with the aim of treating all contract staff with respect and dignity during these periods.
The CBL has also stated that the successful implementation of this transparent and objective separation process will streamline its workforce, optimize resources, and maintain the integrity of its operations, securing the future financial viability and operational effectiveness of the Bank.
