CBL New Governor Nominated

By Alex Yomah
President George Weah has nominated Mr. Jolue Aloysius Tarlue as Executive Governor of the Central Bank of Liberia (CBL) pending Senate confirmation.Mr. Tarlue replaces Mr. Nathaniel R. Patray, III who was reportedly forced to resign following reports of corruptions linking the entire Presidential Technical Economic Management Team headed by Finance, Development Planning Minister, Samuel Tweah.
President George Weah nominated the new Executive Governor of the CBL on November 8, 2019 following a comprehensive vetting process by a team of experts that he had set-up few months ago.
Mr. Tarlue is expected to lead a team of other governors in restructuring the Central Bank of Liberia to tackle Liberia’s challenging economy.
The Executive Governor designate had worked with a plethora of important banks and other financial institutions in the United States of America including J.P. Morgan Chase, BNY Mellon N.A., Deutsche Bank, Merrill Lynch and HSBC Bank N.A. amongst many other executive level financial establishments.
Mr. Tarlue holds MPA (specializing in Public Policy) from Kean University, New Jersey (USA) and BA in Political Science from the King University in Bristol, Tennessee (USA).
Prior to his preferment by President Weah, Mr. Tarlue, Jr., was Chairman, Board of Commissioners of the Liberia Electricity Renewable Commission.
Mr. Patray’s retirement just two years to his five-year tenure without vivid explanation from the Executive leaves political pundits to insinuate that he [Patray] was used as a scapegoat to save Minister Samuel Tweah who was also being accused as major player in the reported misused U$25m saga.
It can be recalled that government infused US$25m intended to mop-up extra liquidity aimed at controlling the hiking of Foreign Exchange rate but according to recognized audit reports, the Presidential Technical Economic Management Team allegedly used unrecognized financial pattern.
Last week, Presidential Press Secretary, Solo Kelgbeh said President George Weah asked Mr. Patray to resign following the international audit and the local Audit reports within three months.
Mr. Patray’s short stay at the CBL was marred with lots of controversies ranging from reported missing LR$ 16 billion coupled with reported misappropriated $25million United States dollars.
Although the two audit reports weren’t definite as to whether Patray and his team at the Central Bank of Liberia were culpable of the audit reports but the bank which is responsible for monetary policy was blemished due to what is termed as “ unorthodox practices” reportedly carried out during the mopping exercises here.
Unconfirmed reports have it that Mr. Nathaniel Patray who resigned was given half a million United States dollars as retirement package in this struggling economy.
But responding to the accusation, Solo Kelgbeh denied said report permeating in the Liberian media. He said at no time government paid Mr. Patray said amount.