CBL Refutes Car Loan Allegation

MONROVIA – February 19, 2018: On February 15, 2018, the New Dawn Newspaper wrote an erroneous

 

story under the caption “US$300,000 for Each Governor at CBL”, alleging that the Central Bank of

 

Liberia, in December 2017, gave US$300,000 to each of its Governors as car loans.

 

 

The Management of the CBL denies this story and classifies it as unfounded, misleading and a

 

calculated attempt by the New Dawn Newspaper and its associates to tarnish the reputation of the CBL

 

and its Governors.

 

 

The Central Bank of Liberia has in place a car loan scheme/policy that began in 2013 for its senior staff

 

to buy their own cars with repayment over a maximum five-year period. This has been a cost-effective

 

measure to mitigate the high maintenance cost of assigned bank vehicles.

 

 

The Central Bank of Liberia challenges the New Dawn Newspaper to produce evidence to support its

 

wild and fictitious claim while cautioning news houses to ascertain facts and avoid publishing

 

falsehoods.

 

 

For further details contact:

 

 

Cyrus Wleh Badio

Head of Communications

Central Bank of Liberia

Email: cwbadio@cbl.org.lr/wlehbad@gmail.com