LMA President Refutes Claims of Non-Compliance with CBL Loan Payment


Liberia Marketing Association (LMA) President, Lusu Sloan, has clarified that members of the Monrovia branch of LMA are paying the LD$4 million loan given them by the Central Bank of Liberia (CBL) through commercial banks.

The LMA President’s reactions come in the wake of public comments that the CBL’s former Executive Governor of Central Bank, Dr. J. Mills Jones, loaned out money from the national treasury and has not been repaid.

Popular talk show host, Henry Costa on Voice FM, claimed recently that Dr. Jones mortgaged the Liberian people’s money and left without audit.

According to Costa giving out loans was not the prerogative CBL, and it is uncertain that people who took the loans will pay.

In an interview with Madam Sloan on March 2, 2016, she said delay in paying the loan came as a result of the Ebola epidemic that struck the country and brought the economy to low ebb.

“The Ebola caused the entire country to fall, and many people could not make their businesses to pay the loan. This is what caused the delay in paying the loan. But we are paying the loan and I am confident that we will pay it in full.

Madam Sloan maintained that the Montserrado chapter of the Liberia Marketing Association is grateful to the former CBL Executive Governor for assisting them through commercial banks to have access to finance.

In this regard, she said they cannot discredit his gesture by refusing to pay, assuring that they have paid not less than LD$2 million out of the LD$4 million.

She added that she could not talk for the rest of the businesspeople across the country, but specifically in Montserrado where she supervises members of LMA, she can assure the Liberian people that the money will be paid in full to enable others have loans to improve their lives.

Confident in her assurance, Madam Sloan referred concerned persons to the Central Bank’s Micro Loan Department, which she said has documents substantiating their payment records.

She, however, used the occasion to call on other businesspeople to be sincere and honest to pay back the loan, noting that without payment others cannot have access to finance to improve their standard of living.


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