Central Bank Ordered Investigated for Scarcity of Smaller Banknotes 

The House Plenary has   mandated its Committee on Banking and Currency to investigate the Central Bank of Liberia (CBL) over coins not being meted and smaller denominations not printed before the bigger banknotes.

The House took the decision on Tuesday, June 21, 2022 during its 32nd Day Sitting following a Communication from Richard Nagbe Koon, Representative, Electoral District #11, Montserrado County, seeking the indulgence of the House to invite before its Plenary the Executive Governor of the Central Bank of Liberia (CBL) and his technical team to explain why coins are not being meted and smaller denominations not printed before the bigger bills.

According to Representative Koon’s communication, read on the floor, it is sad to know that the general citizenry goes through turbulent times and often gets frustrated when transacting with cash on the markets due to the shortages of smaller denomination of the Liberian banknotes. 

He further stated that on many occasions either buyer or seller will unsatisfactorily leave petit cash with the other party during transactions, which he terms as bad and uncivilized.

Following the reading of the communication, a brief debate ensued as a motion was proffered by Representative Isaac Roland for the communication to be forwarded to the Banking Currency Committee to conduct an investigation with authorities of the CBL and report to Plenary within two weeks.

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