The Central Bank of Liberia (CBL) has confirmed ownership of a whooping US$20 million which is temporarily being stored in the Bank of Ghana (BoG) vault, stating that the money is destined for Liberia.
The Bank also clarified that said transaction is part of its regular operations to ensure sufficient currency circulation within Liberia, catering to both government needs and commercial bank withdrawal demands.
However, the CBL clarification was triggered by one Samuel Okudzeto Ablakwa, who publicly questioned the nature of the US$20 million shipment on social media platforms, including Facebook and X (formerly Twitter).
Ablakwa referenced a letter written by Mr. Evans Okeyre-Addo of the Currency Management Department at the Bank of Ghana, addressed to the Assistant Commissioner of the Ghana Revenue Authority’s Customs Division.
The letter, according to the ‘Liberian Investigator online,’ requested clearance for the uncirculated banknotes, which had arrived at Kotoka International Airport (KIA) on August 27, 2024, aboard an Emirates flight from London.
In his posts, Ablakwa pointed out discrepancies between the letter and other documents related to the shipment, particularly questioning why the airway bill lists the Bank of Ghana as the consignee rather than the CBL.
But in reaction to his assertion, the CBL further explained that they have a long-standing Cash Custody Agreement with the BoG, allowing for the secure overnight custody of imported cash, which is typically shipped from London by Travelex Currency, an international currency shipment company.
The Central Bank reassured the public that all such shipments undergo rigorous clearance procedures by customs in both Ghana and Liberia, confirming the legitimacy of the funds’ sources.
