‘PPCC Request to Audit Central Bank Political’

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Societal Reform Initiative of Liberia, (SRIL) has reacted sharply to reports, referencing the Executive Director of the Public Procurement and Concession Commission (PPCC), Dorbor Jallah, that the Central Bank of Liberia (CBL) has refused audit from said institution.
In a strongly worded statement issued yesterday and signed by its national chairman, Amos B. S. Kanneh, SRIL said it is convinced that the information is influenced by the House of Representatives using the PPCC for political gain.
“The Societal Reform Initiative of Liberia (SRIL) seriously disagrees with the unconstitutional behavior of the House of Representatives on its constant call for the CBL to be audited by institutions that lack the legal jurisdiction over the national bank,” Chairman Kanneh said in the statement.
He made reference to the 1999 Act that established the CBL, specifically section 46.2, that the CBL Board of Governors has the exclusive authority to appoint internal and external auditors who shall audit the bank once a year, something that runs contrary to the unprofessional and politically-driven actions of the Lower House.
“In fact, Section 3 of the Public Financial Management Law (PFM) of 2009 validates the CBL’s Act which provides that the entity shall hired reputable and professional external auditors that meets International Standards,” Kanneh said.
He noted that SRIL’s research showed that in compliance with these provisions, the CBL is regularly audited by an international auditing firm. Copies of these audit reports which can be found on the CBL Website are also submitted to the office of the president and the National Legislature.
“It is indeed mindboggling and astonishing that the Legislature would lead a process of violating a law, especially the CBL Act that was legislated by them,” he said.
SRIL’s national chairman described the current situation as a political gimmick being led by some members in the House who are hiding behind the Legislature, calling on Legislative members to be responsible, independent and knowledgeable of the governance process of Liberia.
The Societal Reform Initiative of Liberia (SRIL) chairman called on Liberians not to give credence to unsubstantiated negative reports from the media against the Central Bank.
“As far as we are concerned, the CBL is a non-political institution that is focused on regulating the monetary policies of our country; aimed at alleviating abject poverty to prosperity,” Chairman Kanneh said.
Societal Reform Initiative of Liberia (SRIL) comprises several civil society institutions in the country, including: Progressive Student Alliance of Liberia; Independent Civil Society Network of Liberia; Coalition of Youth and Students to Enhance Peace and Democracy in Liberia; and the Consortium of Civil Rights campaigners in Liberia.

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