The Central Bank of Liberia (CBL) has clarified media reports regarding a $20 million cash importation consigned to the Bank of Ghana (BoG) and destined for Liberia, stating that it is a legitimate transaction.
The importation of United States dollars is part of the bank’s normal function, which is required to meet the needs of the economy, including the USD withdrawal demands and needs of the Government of Liberia and the commercial banks, the CBL explained.
The CBL and the BoG have a long-standing Cash Custody Agreement, which allows the BoG to provide overnight custody for CBL’s imported cash when shipped from London by Travelex Currency, an international currency shipment company.
The cash shipments by flights are cleared through both the Ghana and Liberia Customs, validating their legitimate sources, the CBL stated.
The central bank emphasized its commitment to transparency and accountability, and encouraged the media to always reach out to the bank to verify any information about its operations before publication.
