While quoting the CBL, the Kroll report noted that the US dollar mop-up Exercise involved CBL Banking Department representatives undertaking the physical purchase of Liberian banknotes with new US Dollar banknotes. Information by the CBL, according to the Kroll report, could not be accompanied by documentation setting out how the Mop-up exercise was structured or implemented, or which organizations were targeted by authorities at the CBL. According to the CBL analysis, Kroll identified that Liberian Dollar banknotes totaling L$2.3 billion (US$15 million) were purchased for the US Dollar Mop-up exercise between July, 2018, and October, 2018. The reports also investigated the mop-up exercise by the Liberian government through the Central Bank of Liberia. However, the PIT report said the mop-up exercise created the platform for illegal business dealers to clean their illegal money.

Source: Daily Observer March 05, 2019 02:26 UTC