CBL to Launch Intensive Awareness on New Currency in Gbarnga

By: Washington Tumany Watson -onewash9@gamil.com

MONROVIA-The Central Bank of Liberia has disclosed the launch of its intensive awareness on the infusion of the new Liberian currency.

Speaking about the launch of the awareness program in Gbarnga City, Bong County, over the weekend,  the Deputy head of Corporate Communication, Francis Willson and the Director for Banking, William Jlopleh said the event is intended to officially kick off the .

Mr. Jlopleh who is the Director for Banking at the CBL indicated that the strategy to infuse the new currency in the public will be through the commercial banks for accountability purposes.

“We already signed an MOU with the commercial banks and we have a technical working committee that staff of the commercial banks are also part off,” he said.

Mr. Jlopleh used the interview to encourage the public to open an account with various commercial banks.

“While it is true not everybody will want to open an account with the commercial banks but most people have mobile money accounts, so what we intend to do?  Is that, the commercial banks will have a window where walk-in customer can do their transaction, commercial banks are in agreement with that” he said.

He said the objective of using commercial banks including the use of mobile money is to prevent the rush for the new currency to the window inside the bank.

Mr. Jlopleh said the CBL is working with other financial institutions to ensure that the process is successful.

Also speaking, the Deputy Head of Corporate Communication, Francis Willson said the awareness activities on the effusion of the new Liberian currency will run up to seven months, commencing   September one 2022 to the end of march 2023.

“We will have active town hall meetings, radio talk shows, beyond that, there will be some kind of communication that will be turning down a little bite,” he said.

The two officials specified that the engagement with the public on the effusion of the new currency will last to 2024.

According to them, the CBL will not import any new bank currency in 2023 but indicated that there will be effusion taking place into the economy   2023.

The two officials told the public that the new currency has the same value as the old Liberian currency among others.