As Money Shortage Engulf Banking Sector, Customers Panic, While Depositors Remains In Queue

Central Bank of Liberia

“We have been told to leave the bank, telling us that there is no money, while depositors are queued on line to deposit their money. I am confused, and do not know what to do. Please send in your report here to see what is happening,” one of the customers who preferred not to be named spoke to the GNN in a rather frustrated state of mind while leaving the bank.

Our source is one of the dozens of depositors who as early as 9am today trooped to their respective banking institutions to make withdrawal are saying the same thing that they have been turned away by tellers at the various banks where they have their accounts that there is no money.

“What puzzling us is they are taken money from depositors, but refusing to release our money from the accounts; this situation is indeed frustrating. Last week tellers were only given out 50% of any amount for withdrawal, now this week we are now told there is no money to be given out from our account,” another frustrated customers of one of the local bank told our staff.

The issue of no money syndrome has engulfed every community, especially those who have over the years deposited their monies at these banks with the hope that it would be withdrew when needed have falling prey, as their money has reportedly been hijacked by the very bank they had interest in few years ago..

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About Cholo Brooks 12598 Articles
Joel Cholo Brooks is a Liberian journalist who previously worked for several international news outlets including the BBC African Service. He is the CEO of the Global News Network which publishes two local weeklies, The Star and The GNN-Liberia Newspapers. He is a member of the Press Union Of Liberia (PUL) since 1986, and several other international organizations of journalists, and is currently contributing to the South Africa Broadcasting Corporation as Liberia Correspondent.