IPNews-Monrovia: New evidences discovered by IPNews proves that a little over 15 billion Liberian bank notes were printed contrary to widely held perception that 16 billion was printed.
A classified version of the Kroll audit report obtained by IPNews, indicates that records provided by Crane AB and its logistics company provided a documentation trail for new banknotes totaling LRD 15.506 billion having been shipped by Crane AB.
Records also show that Private and Confidential records in which the CBL paid Crane AB for new banknotes totaling LRD 15.506 billion, yet, delivery notes provided by the CBL indicated that Crane AB printed and shipped a greater quantity of banknotes to Liberia.
The report also notes that the CBL ordered new currency totaling LRD 15.0 billion from Crane Currency in two tranches in 2016 and 2017.
Communications reviewed between the CBL and the Legislature indicates that there was no clear or consistent strategy driving the process to circulate new banknotes from inception to conclusion. As a result, this raised the risk of unintended negative economic effects, including high inflation and the rapid depreciation of the LRD.
Interestingly, the classified report notes that the Legislature granted approval to CBL for the printing of the new banknotes totaling LRD 5.0 billion May 17, 2016, whereas the CBL had already awarded Crane AB ( the LRD printer ) an initial contract on May 6, 2016 totaling LRD 5.0 billion, eleven days before the Legislature approval was granted.
The report further states that the Legislature approval was not granted in the same manner as 2016 for the CBL to print a second tranche of new banknotes totaling LRD 10.0 billion in 2017, yet the CBL violated its procedures and awarded Crane the second contract in June 2017 to print the remaining new banknotes totaling LRD 10.0 billion, four weeks before two officials from the Legislature requested that the CBL replace all legacy banknotes, against the CBL own internal tendering policies for procurement.
Contrary to the contract awarded Crane AB, the actual value of new banknotes printed by Crane AB to Liberia totaled LRD 15.506 billion, which violates earlier contract to print LRD 15.0 billion.
It may be recorded last month (September 2019), the independent Probe Newspaper quoted sources at Crane Currency Printing Company in Sweden Crane Currency has been excluded formal future money printing contracts with the government of Liberia following a scandal involving USD 150 million in illicitly printed bank notes, Finance Minister has told the Liberian Senate in an Executive Session.
Crane Currency was accused of receiving over 700,000 for printing additional Liberian dollar bank notes, over and above what had been contracted.
In a previous responds Crane Currency insisted it had ‘operated in full compliance with the law’, adding that it ‘rejects completely any allegation of wrongdoing’.
As part of the investigation into the alleged missing 16 billion Liberian Bank notes, the government of Liberia issued travel restrictions on thirty-five persons of interest over the disappearance of the sixteen billion Liberian dollars.
The travel restriction (NE EXEAT REPULICA) which was issued on September 27,2018, by the Monrovia city court, instructing the listed persons of interest not to travel.
Those named for the ‘NE EXEAT REPULICA’, are: Dr. Milton Weeks, former governor of the Central Bank of Liberia, Charles Sirleaf, Deputy Governor, Dorbor Hagba, Richard H. Walker, Adolphus Forkpah, Cyrus Badio, Amie N. Rogers, Michael B. Ogun, James Wilfred and Joseph K. Jallah.
Others named in the travel restriction are Supuwood T. Tarpeh, Mussa A. Kamara, Mustapha E. Sherman, Sylvia Tarkpah, Joyce J. Dolo, George Wilson, Miatta Oberly Kuteh, Marica E. Grigsby-Toe, Musulyn RB Jackson,Maaka Amnlard, Prince Bull, Solomon Jaykpah, Theodoria B. Jreh, Oldada Deshield, Ophelia Nyenpan, and Barquolleh Gabriel.
Additionally, the court order directed travel restrictions on Zinnah Davison,Lillie Ballah, Andrew Pabai, Edwina Edet, William Dargbeh, Stephen Nyenma, David M. Wilson and Lawrence Sirleaf.
The court order furthermore instructed all law enforcement officers to ensure and arrest all persons listed while attempting to leave the country while the investigation was ongoing
It may further be recorded, Journalist Philibert Brown was the first Journalist to unearth the disappearance of two billion Liberian dollars at the Freeport of Monrovia which has rocked the government sending it into what political observers terms as ‘crack within the government of President George M. Weah.
This article was brought to you by the project: “Transparency and Accountability in the Public Sector”, with focus: “Following the Money”, And support from OSIWA
