Wednesday, October 17, 2018
Advertisement

US probes missing $100m in Liberia

US probes missing $100m in Liberia
October 11
00:27 2018
Advertisement

The US embassy in Liberia says it has asked forensic investigators to carry out a preliminary probe into the possible disappearance of $100 million in newly printed notes in the country.

The currency scandal has sparked outrage and confusion in Liberia, where the central bank has denied a report by the information minister that the cash – equivalent to about 5 percent of gross domestic product – went missing over the past year.

In late September, the government said it had sought US help in investigating the whereabouts of the cash.

Washington has worked with the Liberian government on fiscal transparency and governance issues in the past.

In a statement, the US embassy said it had asked firms specialising in forensic investigations to establish the basic facts of the case and determine if a broader mission was needed.

“Such a report would be the most credible and effective means to quickly determine the scale of the problem,” it said, adding that the results of the investigation would be made public.

“We urge all Liberians to remain patient.”

The scandal has saddled President George Weah with his biggest political crisis since he took office in January.

Weah has ordered an investigation and more than 30 former bank officials were barred from leaving the country.

Earlier in October, the central bank governor, Nathaniel Patray, said an internal audit found that all the notes shipped from the Swedish printer between 2016 and 2018 were properly accounted for and stored in the bank’s reserve vaults.

RECEIVE ALERTS FROM THECABLE

BBM CHANNEL C0038F78B
WHATSAPP 08113975334
TWITTER @thecableng
Copyright 2018 TheCable. All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from TheCable.
Advertisement

Social Comments

0 Comments

No Comments Yet!

Let me tell You a sad story ! There are no comments yet, but You can be first one to comment this article.

Write a comment

Write a Comment

Your email address will not be published.
Required fields are marked *

*

Advertisement
Advertisement

Exchange Rates

October 15, 2018USDGBPEUR
INTERBANK360.45480.18420.32
LAGOS360485425
KANO361483423
PH362482423
ABUJA362481423
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
Advertisement
Advertisement