MONROVIA: Following the suspension of Aloysious Tarlue, the executive governor of the Central Bank of Liberia, and the subsequent appointment of an acting Executive Governor by President Joseph N. Boakai, ERANEWS investigation has uncovered that President Boakai’s decision is in 𝘃𝗶𝗼𝗹𝗮𝘁ion of the Act establishing the Liberian Central Bank.
It can be recalled on Tuesday, July 30, Information Minister Jerolinmek Piah at a press briefing disclosed that President Joseph Boakai has suspended the central bank governor as a result of the GAC’s recent audit report.
But this station has uncovered that according to Section 22 of the Central Bank of Liberia Act, the executive governor, non-executive governors, or deputy governors of the CBL shall be removed by the Liberian Senate following a bill of impeachment by the House of Representatives.
Besides, the law states that the Governor and Deputy Governor have the option to resign from their position by providing written notice to the President.
Accordingly, in our investigation, if any of these positions are vacant due to death, resignation, or other reasons before the expiry of the term, a suitable replacement will be appointed by the prescribed procedures outlined in the CBL Act.
Sadly, Section 22 of the Act establishing the Liberian Central was not followed by the President.