Cuffy said CBL did not abide by international best practice for selecting Crane Currency to print both the authorized and unauthorized new Liberian banknotes. “In 2016, the total amount of L$5,146,250 new banknotes printed by Crane Currency was received by the CBL. The amount of L$146,250,000 Liberian dollar banknotes were printed in excess of the L$5,000,000,000 authorized by the Legislature and contracted by CBL,” Mr. Cuffy said. “In 2017 and 2018, L$10,359, 750, 000 Liberian dollar banknotes were printed and shipped by the Crane Currency and was received by CBL. The amount of L$359,750,000 Liberian dollar banknotes was printed in excess of the L$10,000,000,000 Liberian dollar banknotes contracted for by the CBL,” Cuffy said.

Source: Daily Observer March 01, 2019 02:48 UTC