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





For further details contact:



Cyrus Wleh Badio

Head of Communications

Central Bank of Liberia

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