By Patrick Stephen Tokpah
Gbarnga, Bong County-The Government of Liberia through the Central Bank of Liberia (CBL) has dedicated the newly the constructed US$400, 000 worth of the CBLregional cash hub in Gbarnga, Bong County.
Speaking at dedicatory ceremony on December 10, 2021 in Gbarnga, Governor, Aloysius J. Tarlue said the idea behind the construction of the new regional cash hub is to create access to cash in other to alleviate the difficulties citizens have been facing when it comes to bank’s transaction in the County.
The Central Bank of Liberia Executive Governor also disclosed that since 1975 it’s first of it kind for the bank to established a branch outside of Monrovia.
He said CBL regional cash hub will strengthen the movement of cash in the region, where those from neighboring counties will not have to travel to Monrovia to transact with the CBL.
He further said the hub will help the government in collecting revenue in the Country.
The CBL Governor said over the years citizens in the region have been hugely challenged in obtaining cash from various commercial Banks especially classroom teachers and Health workers in the region.
Additionally, Governor Tarlue revealed that other sub branches of the CBL will be constructed in different parts of the Country, maintaining that the one in Gbarnga is the second biggest next to the one in Monrovia.
Also speaking at the dedicatory ceremony of the CBL regional cash hub in the County, Finance and Development Planning Minister Samuel D. Tweah Jr. extended commendation to the leadership of the CBL for their farsightedness in constructing the CBL regional cash hub in Bong County that will help to alleviate the financial difficulties citizens from the region have been facing in the County.
The Liberian Finance and Development Planning Minister called on citizens of the region to invest in the CBL bill, noting that the reason why the exchange of the Country will be stable is when they invest in the CBL bill in the Country.
Minister Tweah said quite recently the board of CBL has kept the policy rate at 20% and the rate of inflation is around 7%, adding that at 20% of CBL rate mean that when they invest one million Liberian Dollars they will be earning two hundred thousand Liberian Dollars a year.
In remake, the Bong County Legislative Caucus Chair and Representative of Electoral District#7, Joseph Papa Kolleh extended commendation to the CBL for selecting Bong County for the construction of the regional cash hub.
The Bong County Electoral District#7 Representative said the construction of the CBL regional cash hub will be helpful to teachers who have been waking up as early as 3:00AM just to get their salaries from the LBDI in the County.
The Bong County Legislative Caucus, CPP, and the ALP Caucuses chairman assured the government of Liberia that citizens of the County will not do any act that will be counterproductive to the successful operation of CBL regional cash hub.
For his part, President George M. Weah described the dedicatory ceremony of the CBL first regional cash hub in the County as way of decentralizing his government in Liberia.
The Liberian leader said he was delighted that under his regime citizens of the center region of the Country can have accessed to CBL outside of Monrovia.
The Liberia chief executive said the CBL regional cash hub; it will help in minimizing the stuffing citizens have been going through in the central region when it comes to accessing their own cash from various banking institutions in the region.
President Weah at the same time assured citizens of region that his government will continue to undertake the needed development that will improve their living conditions in the Country.
The dedicatory ceremony of the CBL regional cash hub was attended by cross section of citizens including the Minister of State for Presidential Affairs Nathaniel McGill, Internal Affairs Minister Varney A. Sirleaf, Minister Samuel D. Tweah, members of the Bong County Legislative Caucus, local leaders from region, International partners among others.