Hard Time Creeps: As Liberian Dollars Reportedly Scares At Local Banks

Liberian dollars being displayed by a local money exchanger

GNN investigation has uncovered the reported shortage of Liberian dollars at some local banks in Monrovia and its environs, however, some customers who asked our reporter not to be named standing in a long queue at one of the banks expressed frustration.

“I went to a local bank in Monrovia to withdraw twenty-five thousand Liberian dollars to enable me settle some domestic problems, but the bank is telling me about the scarcity of Liberian dollars, therefore, I was told by a teller to only withdraw five thousand Liberian dollars, this is serious,” a client at one of the local bank who refused to be named speaking to the said.

Our reporter who visited some local banks in the city and interacted with dozen of customers in a very long queue who had gone to their respective banks for withdrawal also confirmed the report of the scarcity at some banks of the Liberian dollars at local banks.

According to our reporter following his visit to these banks to obtain facts surrounding the alleged shortage of Liberian dollars at local bank said while making his enquiry he came a man who claimed to be a local businessman had gone to the bank to withdraw, but unfortunately his wishes of withdrawing six hundred thousand Liberian dollars from the bank was unsuccessful as he was told he could only withdraw three hundred thousand.

“We will start saving our monies under our beds; this is indeed frustrating after standing in a long queue at this bank for hours, to be told that there is no money, I am frustrated my brother, instead of moving forward, this country is moving backward,”  another customer of one of the banks that our reporter visited expressed his disappointment.

However, some officials of two of the local banks our reporter visited and preferred not to be named, denied the report of the shortage of Liberian dollars at their respective banks, and lamented over such news report, “It unbelievable to hear such false and misleading information about banking institutions in Liberia. Again please be informed this information is incorrect,” a staff of the bank said.

Investigation in this alleged shortage of Liberian dollars at local banks continues

About Cholo Brooks 14593 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.