The tough-talking Bong County lawmaker and National Patriotic Party (NPP) Vice Chairman said he has received credible information that the Executive Mansion has ordered the Central Bank of Liberia to print new banknotes in the amount of over one billion dollars.
Addressing a news conference at his Capitol Building office Wednesday, June 1, 2016, Representative Mulbah said the lower house received a letter from President Johnson-Sirelaf asking the National Legislature to allow the Central Bank of Liberia to print new banknotes, but the letter was tabled due to some sticky issues that needed to be cleared.
He said although the request has not gotten the House’s blessing, they have received reliable information that the Executive is contemplating on printing over One Billion Liberian Dollars instead of L$51 million dollars as was earlier suggested by the new Central Bank Governor, Milton Weeks.
Representative Mulbah said the constitution provides that the printing of banknotes in the country must meet the approval of the National Legislature.
The Bong County lawmaker also threatened to sponsor a legal bill to impeach the Liberian Executive if she goes ahead and prints the new banknotes without the acquiescence of the National Legislature.
It is not yet known how many Liberian banknotes are in the country, how many in circulations, how many have been declared mutilated and how many in the various banks in the country.
According to a source at the Central Bank of Liberia it will be difficult for the CBL to determine the volume of Liberian banknotes in circulation due to unspecified amount of Liberian banknotes printed by the Mills Jones administration in 2008.
When contacted, Presidential Press Secretary Jerolinmek Mathews Piah told this paper that the assertion by Representative Mulbah does not deserve his response because it is not an issue. “Needless to be responded to; it is not an issue,” Piah said.