MONROVIA, LIBERIA-The Central Bank of Liberia (CBL) has announced the completion of a technical validation process, after the arrival of the second batch of four-billion Liberian Dollars into the Country.
CBL Director of Banking William Jlopleh said:” The validation carried out by Internal Audit was aimed at detecting any defect among the banknotes printed.”
Mr. Jlopleh added that the exercise is part of the currency reform program of the CBL, which he said is well on course.
Also speaking on ELBC Money Matter program on Wednesday, March 30, 2022, the Currency Committee Head, Musa Kamara, said the one-hundred dollar denomination will shortly be infused into the economy.
The Senior Technical Advisor to the Executive Governor of the Bank also said that as part of the infusion process, commercial banks will receive the new money against their balances at the CBL.
Mr. Kamara said:” Such exercise will help to increase the visibility of the new money in the economy, ahead of the mass exchange exercise in the second half of this year.”
By: Naway Gumeh