IPNews-Monrovia: The Governor of the Central Bank of Liberia, Nathaniel Patray has resigned.
According to the an Executive Mansion release, President of Liberia, H.E. Dr. George Manneh Weah, has accepted the resignation of Central Bank of Liberia (CBL) Governor, Nathaniel R. Patray, which was tendered in late yesterday, Thursday, October 24, 2019.
It may be recorded, the resignation of Patray followed President Weah’s recent pronouncement that he would restructure the Central Bank of Liberia towards tackling the Country’s economic challenges.
President George Manneh Weah, told a gathering of world leaders recently at the United Nations General Assembly in New York, United States of America, that his government is currently undertaking a restructuring of Central Bank to gain greater Investment confidence through a more comprehensive reform process.
President George Weah stated that reform process which underway is focuses on the correction of imbalances in the leadership of the Central Bank of Liberia.
It may also be recorded, Liberian President, George Weah, on May 29, 2019, stated in a nationwide speech that governor Nathaniel Patray, would retire honorably due to age.
President Weah: “The Executive Governor is scheduled for age-related mandatory retirement in the next three months. During that period, we will work to transition the Bank to a new management.
“This measure is intended to overhaul Central Bank of Liberia, and restore confidence in an institution that has been beset by scandals and is hampering efforts to deal with an economic crisis.”
The President’s comments came on the back of numerous scandals involving the Bank’s poor performance over the handling of the $25-million intended to revive the struggling economy with the mop-up of excess Liberian dollars liquidity.
The pronouncement by the Liberian leader now sets the stage for vetting of a new governor as indicated in the President’s My 29,2019 nation-wide address.
President Weah profoundly thanked Mr. Patray for his services to the Government and people of Liberia. He said Mr. Patray’s acceptance to serve as a Governor during the challenging times was remarkable. He wished the former CBL Governor well.
The Liberian Leader assured Mr. Patray that he can be called upon to serve his Country in other capacities when the need arises.
Meanwhile, the Liberian Leader has named Dr. Musa Dukuly as Officer-In-Charge of the Central Bank of Liberia pending the appointment and subsequent confirmation of a new Governor.
The Central Bank of Liberia previously called “National Bank of Liberia” was founded on 18 October 1999 by an act of national legislature and began operations in 2000. It is a member of the Alliance for Financial Inclusion.
