Sinoe County Senator, J. Milton Teahjay has dismissed reports that the Legislature authorized former Central Bank of Liberia (CBL) Governor Milton Weeks to print L$10billion banknotes that been at the center of a national debate since news L$15billion allegedly went missing in a container and bags brought in through the Freeport of Monrovia and the Roberts International Airport.
Speaking to legislative reporters yesterday, Senator Teahjay said, from 53rd up to the 54th the Legislature “the only approval of that has given CBL has been to print five billion dollars, which in writing or resolution that we authorized as the legislature of this country”.
Senator Teahjay who is a member of the Senate’s Committee on Banking and Currency said that “the second attempt to get to us to grant an approval for the second printing was never granted. The approval was received and we, as legislators, debated the issues in both chambers and then came up to a conclusion that the CBL needed to perform certain actions that will lead us to grant the approval and so the secretaries of both chambers were authorized to inform the CBL to do certain things.”
Senator Teahjay said as a precondition for the approval of the Executive’s request for the printing of additional banknotes, the Legislature in a joint statement wrote the CBL to furnish the body with the appropriate details of the volume and the denominations of the replacing banknotes prior to the printing and the minting of the coins, a directive he said, the bank failed to honor.