LIBERIA: CBL Executive Governor’s Neutrality Questioned
The neutrality of the Governor of the Central Bank of Liberia is said to be stained by its current administration under the leadership of its Executive Governor, Mr. Nathaniel R. Patray, III, who report said has politicized the institution in the administration of the CDC-led Government as compare to yesteryear.
The Central Bank of Liberia (CBL) was established on October 18, 1999 by an Act of the National Legislature of the Republic of Liberia to independently and professionally perform its statuary duty as required by law as an autonomous body; having the freedom to govern itself or control its own affairs.
The independence of the CBL has become a problem for dozens of Liberians in recent times, when its Executive Governor, Mr. Nathaniel R. Patray, III, is always seen in political gathering, specifically during rallies of the ruling Party, the CDC-led government, with Liberians questioning the independent role of the Central Bank of Liberia Executive Governor.
According to its policy and Act that created it, the CBL has functional independence, with power and authority, this which has spelled out has raising eyebrows on the part of the current executive governor’s role; spending more time in political rallies instead of doing his job as a financial expert.
“We’re indeed worried and concerned about qualification of this guy; he seems to be more loyal to politics then his professional assignment, despite he was appointed by the President and confirmed by the legislature, it is important that he perform well in the interest of the Liberian people,” Jacob Samuels, Jr. speaking to the GNN noted.
But for others it is to the contrary, their arguments are, the Executive Governor of the CBL serves at the will and pleasure of the President, and therefore, he must dance to the tune of the ruling party or else he will consider himself jobless.