The Central Bank of Liberia has announced the safe arrival of the first L$4 billion new 100 Liberian dollar banknotes, commencing the introduction of the L$48.734 billion new families of Liberian dollar currency.
The new banknotes, according to a CBL release, were safely secured in the vaults of the CBL headquarters on Friday, November 26.
The arrival of the new banknotes at the Roberts International Airport was witnessed by the Chairs of the House and Senate committees on Banking and Currency, the International Monetary Fund Resident Representative to Liberia, representatives of the United States Agency for International Development, and Dr Patrick Conteh, Resident Advisor to the CBL.
At the point of arrival at the RIA, the IMF, USAID representatives and the legislators, together with CBL governors, verified that the number of boxes containing the money was consistent with the number shared by the manufacturer of the banknotes and uploaded to the aircraft.
The international partners, together with members of the management, Technical Committee for Currency Reform and internal CBL auditors also verified each marked box against its number on the files, as the conveyor belt rolled them unto trucks.
The second round of verification took place after the arrival of the money at the Central Bank office in Monrovia, to ensure the number of marked boxes received and loaded onto trucks at the RIA added up to the total number of boxes delivered to the CBL.
The release furthered that the CBL and Kroll will undertake a full technical validation process of the new banknotes in the coming days, to ensure they comply with the contractual specifications.
Following the validation process, the CBL will make the new banknotes available to the Liberian public through the commercial banks for the festive season.”
The new banknotes are part of L$48.734 billion approved by the National Legislature in May this year to be printed and minted.
“The CBL release added that the arrival of the new 100 Liberian dollar banknotes is an important milestone in addressing the persistent liquidity challenges that the Liberian economy has faced over the years.