CBL’s Challenge: Rebranding, Restoring Integrity

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CBL officials with the delegation from the New York Federal Reserve

— Governor Tarlue tells visiting NY Federal Reserve delegation

The Executive Governor of the Central Bank of Liberia (CBL), J. Aloysius Tarlue, Jr. has said his most pressing challenge is the rebranding of the CBL to restore its integrity.

The CBL Executive Governor said it is important that immediate steps are taken to restore public confidence in the operations of the Bank.

In a briefing Wednesday, January 15, 2020, with a delegation of the New York Federal Reserve (FED) at the Bank’s corporate headquarters in Monrovia, Executive Governor Tarlue said the CBL, under his governorship, will exercise transparency in its operations to remove the reputational harm the Bank has suffered.

The CBL statement, quoting its Executive Governor, reiterated the need for the implementation of effective internal controls that would help restore the image of the CBL.

He thanked the FED for its support and stressed the need for more capacity building to help the CBL in its effort to maintain price stability in the Liberian economy.

The Head of International Affairs and Senior Vice President of the New York Federal Reserve, Mr. Michael Schetzel, lauded Executive Governor Tarlue and praised the CBL for the cordial working relationship with the FED.

He said his institution values the relationship with the CBL and will continue to exert all efforts to enhance the capacity of the Bank.

The meeting was centered around the CBL’s regular operations and administration of the Society for Worldwide Interbank Financial Telecommunication (SWIFT) and its Customer Security Program (CSP), which was recently implemented.

The visiting 5-member FED delegation includes Mr. Matthew Nemeth, Central Bank & International Account Services Vice President; Ms. Lara Green-Spector, Central Bank & International Account Services Officer; Mr. Matthew Trieste, Central Bank & International Account Services Senior Associate; and Ms. Lauren Comunale, Central Bank & International Account Services Senior Associate. The meeting, which is an annual mission of the FED to Liberia, was also attended by CBL’s Acting Deputy Governor for Operations, Ms. Nyemadi D. Pearson, as well as other senior staff members of the Bank.

4 COMMENTS

  1. I GET SO CRAZY WHEN A GUY LIKE THIS TRY TO LECTURE US ABOUT INTEGRITY, LIKE WE HAVE NEVER HEARD OTHER SEASONED CORRUPT LIBERIANS SAYING THE SAME THING WHENEVER THEY ARE GIVEN A JOB IN THE GOVERNMENT FOR THE SOLE PURPOSE OF STEALING. SOMEONE NEEDS TO EMPHATICALLY TELL THOSE WHO WANT TO HELP LIBERIA, LOOK JUST HELP LIBERIA, IF YOU WANT TO, JUST BRING YOUR MONEY FOR US TO PUT IT IN OUR POCKETS. DO NOT WORRY ABOUT ANY LIBERIAN OFFICIAL TELLING YOU ABOUT INTEGRITY. CORRUPTION IS IN OUR DNA AND THAT IS WHY RAMPANT CORRUPTION IS NOT A CRIME AT ALL UNDER THE LAWS OF LIBERIA. TOO SAD, A COUNTRY WITH SO MANY MANY FOOLS LIVING IN PARADISE ON THE DAILY BASIS MY PEOPLE. (WATCH)

  2. Mr. Kpadeh, this is just about mindset accusation. The visiting team is not about money donation or putting money in government coffer, but it is about proper monitoring and coordination between the CBL and the FED.

    We all know about African leaders way of governance, corruption is count # 1 in their endeavors. Lack of proper systems is one of the key reasons African leaders always fail. Any leader can bring their own style of governance swiping out the existing ones he or she met for generations instead of building on the previous ones. You cannot build a good system in shorter period of time that will glory to the 4,5, or 6 years administration.

    Mr Tarlue is saying that he will rebrand the CBL into a reputable standard. We all wish him well in his endeavor as to relief the nation in this nose diving economic. I Hope that he justify the confidence that president reposed in him

  3. HEY SOLEE, YOU MAY ACTUALLY WANT TO DO A LITTLE RESEARCH ON MONITORING FINANCIAL SYSTEMS IF THERE WERE EVER SYSTEMS SET UP IN LIBERIA, A COUNTRY WHERE PEOPLE ARE BORN WITH RAMPANT CORRUPTION IN THEIR BLOOD OR CORRUPTION IN THEIR DNA. THIS IS A COUNTRY WHERE CORRUPTION IS NOT A CRIME AT ALL UNDER THE LAWS, I KNOW VERY WELL YOU CAN NOT DISPUTE THAT SOLEE. REMEMBER SAMMY K. DOE HAD A VERY POWERFUL TEAM FROM AMERICA STATIONED IN LIBERIA TO HELP MONITOR FINANCIAL ACTIVITIES OF THE GOVERNMENT IN THE 80S, RESEARCH AND SEE WHAT HAPPENED TO THE TEAM. YOU KNOW SAMMY K. DOE WAS THIS TARLUE GUY KINSMAN. TARLUE KNOWS RAMPANT CORRUPTION IS NOT A CRIME AT ALL IN LIBERIA. SO WITH OR WITHOUT A VISITING TEAM, NO WORRY, NO PROBLEM, THESE FOOLS WILL BEHAVE RECKLESSLY AS USUAL. WE HAVE SEEN SO MANY OF THESE PHOTO-UP, WE KNOW THE END RESULT, STEAL AS MUCH AS YOU CAN , THAT IS EXACTLY WHAT WE DO IN LIBERIA, NO PRETENDING SOLEE. (WATCH)

  4. Thanks Michael Solee for discouraging pessimism and defeatism, because even though “corruption is in our DNA”, all Liberians aren’t corrupt. And “all” is the operative word in a political space notorious for name-calling, generalization, scapegoating, unsupported assertions, and illogical arguments. Like you correctly observed, “Lack of proper systems“ and processes bundled as systemic or endemic corruption happens to be the albatross around our nation’s neck.

    To make matters worse, favoritism or cronyism as a result of membership to a Masonic Society, Political Party, Ethnicity, etc., all have helped to undermine punishment for white collar crimes in Liberia. Corruption has been around since the dawn of human beings and will only disappear after nonchalance to climate change cause the earth to be destroyed by rising seas or forest fires. Meanwhile, serious countries lock up their Bernie Madoffs and Ken Lays: Lords of corruption.

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