Legislature Gave CBL Blank Check to Print Additional Liberian Dollars

first_imgThe 53rd Legislature, during the Speakership of J. Emmanuel Nuquay (left) and Senate Pro Tempore Armah Jallah (right), authorized the Central Bank of Liberia (CBL) to print unspecified and additional Liberian banknotes, to replace the Liberty bills.The Daily Observer has gathered that the 53rd Legislature, during the Speakership of J. Emmanuel Nuquay and Senate Pro Tempore Armah Jallah, authorized the Central Bank of Liberia (CBL) to print unspecified and additional Liberian banknotes, to replace the Liberty bills.According to a letter in possession of this newspaper, dated July 19, 2017, the Plenaries of the House of Representatives and the Senate, through Chief Clerk Mildred Sayon and Secretary J. Nanborlor Singbeh, respectively, authorized the Central Bank of Liberia (CBL) to print additional banknotes, further authorizing the CBL to introduce coins in lower denominations into the economy, in order to allow a fractional transaction which could help to minimize inflation.The Legislature’s administrative and clerical heads indicated that their joint letter constituted the CBL’s legal and sufficient authority to print an unspecified and additional number of Liberian dollar banknotes, but said that the Legislature should be fully furnished with the appropriate details of the volume and denomination of the money prior to the printing and the minting of the coins.The letter said: “We present our compliments and by directive of the Plenaries of the Senate and the House of Representatives, respectively [IN SESSION], apprise you that in separate discussions on the declining state of the Liberian economy, the Legislature has made the following decision to wit: That the Government of Liberia should continue to use the United States dollars and Liberian dollars until at such time when the country’s export base has increased significantly.”It added: “That the  Central Bank of Liberia is hereby requested to replace the legacy notes [Liberty] completely with the newly printed banknotes so that there will be a single type of Liberian currency, thus facilitating proper control of money supply, and that the Central Bank of Liberia is authorized to introduce coins in lower denomination into the economy, to allow fractional transaction which would help to minimize inflation.”The letter also said: “Meanwhile, the Legislature would request that you furnish this body [Legislature] with the appropriate details of the volume and denomination of the new banknotes prior to the printing and the minting of coins.”Though the Daily Observer cannot say whether the printing of unspecified and additional Liberian banknotes was part of former President Sirleaf’s turnover notes to President George M. Weah, there are reports that the Weah administration might have been in the know.CDC Executive member and Montserrado County District # 8 Representative Acarous M. GrayMeanwhile, Montserrado County District #8 Representative Acarous Gray told newsmen yesterday that the CBL, having received the authorization from the Legislature to print unspecified and additional Liberian banknotes, notified former President Ellen Johnson-Sirleaf who went ahead with the printing, disregarding the obligation to furnish the Legislature with appropriate details of the volume and denomination of the printing and the minting of coins.“Former President Sirleaf’s letter to the Legislature about our authorization to the CBL put her in the know about the actual amount which was printed without informing the Legislature,” Rep. Acarous Gray said.“However, upon our reconvening, we will summon the former President, along with the former CBL Governor and other parties, about the alleged missing money,” Rep. Gray said.Meanwhile, it may also be recalled that in 2016, two separate “Resolutions” from the House of Representatives and the Liberian Senate, respectively, revealed that the House of Representatives and the Senate firstly authorized the printing of additional LD$5 billion.According to the resolutions, a copy of which is in the possession of the Daily Observer, the Senate’s resolution is entitled #002/2016, while the House of Representatives’ resolution is #001/2016.Mr. Charles Sirleaf, serving as Acting Executive Governor of Central Bank of Liberia (CBL) in March 2016, wrote to Speaker J. Alex Tyler of the House of Representatives as well as Senate President Pro Tempore Armah Z. Jallah, requesting the printing of additional banknotes. By April 16, 2018, Mr. Milton Weeks was appointed by President Ellen Johnson-Sirleaf as CBL Executive Governor, to replace Dr. Mills Jones, whose tenure had expired.According to the Senate Resolution, on May 9, 2016, the additional printing of L$5 billion was intended to alleviate the brewing economic crisis and, by extension, economic, political and security threats to the country as well as to address the swap of the mutilated Liberian banknotes on the market.The Senate’s resolution was prompted by a response from Acting CBL Executive Governor Charles E. Sirleaf, CBL/A-E GOV/CES/0000232/2016.The resolution quoted Mr. Sirleaf’s response on the specified various denominations, quantities and amounts: L$500 banknote (2m pieces = $L1 billion); L$100 banknote (26,250,000 pieces = L$2.625 billion); L$50 banknote (20,000,000 pieces = L$1 billion); L$20 banknote (10,000,000 pieces = L$200million); L$10 banknote (10, 000,000 pieces = L$100 million) and L$5 (15,000,000 pieces = L$75 million).Seven of the 30 senators, who did not sign the resolution, included Senators George M. Weah (Montserrado County), Nyonblee Kangar Lawrence (Grand Bassa County), Cllr. Varney G. Sherman (Grand Cape Mount County), President Pro Tempore Armah Z. Jallah (Gbarpolu County), Joseph Nagbe (Sinoe County), Oscar A. Cooper (Margibi County) and J. Gbleh-bo Brown (Maryland County).“Whereas, the CBL has satisfactorily responded to the queries raised by the Joint Committee in its preliminary report to plenary and subsequently endorsed by Plenary of the Liberian Senate. Therefore, the Liberian Senate hereby grants the request of the CBL to print LD$5,000,000,000.00. (Five billion Liberian dollars) to address the acute shortage of Liberian banknotes on the market and the corresponding financial crisis associated with it that could border on national security of the country,” the Senate’s resolution said.Meanwhile, the Resolution of the House of Representatives, titled #001/2016 and which is also in possession of this newspaper, has revealed that the Lower House endorsed the resolution on Thursday, April 21, 2016, and that it was adopted by two-thirds of the total membership of the House of Representatives of the 53rd Legislature of the Republic of Liberia, authorizing the Central Bank of Liberia (CBL) to print additional L$5 billion in compliance with Article 34d (II).Article 34d (II) of the 1986 Constitution says: “No monies shall be drawn from the treasury except in consequence of appropriations made by legislative enactment and upon the warrant of the President, and no coin shall be minted or national currency issued except by the expressed authority of the Legislature. An annual statement and account of the expenditure of all public monies shall be submitted by the office of the President to the Legislature and published once a year.”The House’s resolution said: ‘We, the below listed Members of the Legislature of the Republic of Liberia, have authorized the Central Bank of Liberia to print additional Liberian Bank Notes to be infused in the Liberian economy but with a caveat that the Central Bank of Liberia adhere to a comprehensive audit by the General Auditing Commission (GAC).”According to the Resolution, 10 of the 73 members of the House of Representatives of the 53rd Legislature, who did not affix their signatures, include Representatives Dr. Edward Forh, Josephine M. G. Francis, Munah Pelham-Youngblood, William Dakel, Matthew Zarzar, Samuel Kogar, Worlea Saywah Dunah, Zoe Pennue, Haja Fata Siryon and Christian Chea.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

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HAB-IT opens new Water St Branch

first_img…offers no commission onpurchases this weekOne of Guyana’s most efficient shipping company, HAB International Incorporation (HAB-IT), on Monday opened its Water Street branch to the public, offering no commission on purchases for this entire week.A section of the new facility equipped for online shoppingLisa Beharry of the freight agency explained that this new branch adds to their existing location at Eccles, on the East Bank of Demerara. Located at Fogarty’s Building, this venture widens the scope of services offered, which ranges from small and large packages to online shopping.The new building features a boutique-like experience, where persons can receive their packages on the same day. It is a service which is only offered by HAB-IT through partnership with Caribbean Airlines.“We are the only company in Miami to offer such a service. It is called the jet-pack service and we have teamed up with Caribbean Airlines. With them, we are able to offer same-day delivery so if we have something that is an emergency, it would be landed the same day,” Beharry announced.“We decided to move to the Fogarty’s Building because it is central and we are catering for the online shopping. We kinda did a boutique setup and the reason is because we want to focus on small packages and online shopping for clients in the area. You can either shop from home and come to pick up your package or you can come in and shop with us.”Partnership was also extended with the local banks, offering customers with an additional medium to make payments. For this week, all online purchases will be transacted without a commission for the agency. Consolidated shipping is also among the list of services.“Once we receive the link, we would send the price with commission included and an estimate of the shipping. We do consolidate so if you purchase something so you can decide if you want to wait and ship all of it together.”last_img read more

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Iraq, Saudi face off in bout of football diplomacy

first_imgThe country has not played full internationals on home turf ever since its 1990 invasion of Kuwait that sparked an international embargo.The ban, covering all but local matches, stayed in place after the US-led invasion of 2003 that toppled dictator Saddam Hussein.It was briefly lifted in 2012, but a power outage during an Iraq-Jordan match in the Iraqi Kurdish capital Arbil led world football’s governing body promptly to reinstate it.Iraq in December declared victory over the Islamic State jihadist group following a three-year battle, and FIFA finally relaxed the ban, allowing international friendlies at stadiums in Arbil, Basra and the shrine city of Karbala.For Saudi Arabia, the match is part of a slow process of boosting diplomatic and economic ties with post-Saddam Iraq, while at the same time countering the influence in the country of its regional rival Iran.– Political football –“Politics is present in every domain, and Saudi Arabia has major political weight,” Sports and Youth Minister Abdulhussein Abttan told AFP in an interview.Iraq has invited its president, Gianni Infantino, to visit the country, but no decision has yet been taken on whether the trip will go ahead © AFP/File / LUDOVIC MARIN“I hope that this match will inspire other national teams to visit Iraq, which will help support our case for a total lifting of FIFA’s ban on matches in our stadiums,” he said, ahead of a decision the sport’s governing body is expected to take in March.Iraq is also hosting a four-country tournament in March in Karbala, although Kuwait has pulled out.In another case of political football, Qatar which is locked in a diplomatic standoff with Saudi Arabia and its allies sent a high-profile delegation to Iraq to sign a series of sports accords.“So now we’re helping Iraq?! Iraq has become important, impressive… ,” an apparently miffed Saudi official quipped on Twitter under a photo of the Qatari federation head.– Infantino invited –On the FIFA front, Iraq has invited its president, Gianni Infantino, to visit the country, a spokesman for the federation told AFP, but no decision has yet been taken on whether the trip will go ahead.A visit by Infantino “would be important, only for symbolic reasons,” said James Dorsey, a specialist in Middle East football and politics.Iraq has not played full internationals on home turf ever since its 1990 invasion of Kuwait that sparked an international embargo © AFP / Haidar HAMDANI“The key is does FIFA lift the ban or not, because the world soccer body by lifting the ban says Iraq is a safe place to go.“It’s clearly very important for the Iraqis, post territorial defeat of IS, to be projected as a country where there is security,” said the senior fellow at Singapore’s S. Rajaratnam School of International Studies.For Bassem Qassem, the national team coach, the match in Basra will be “more protocol than technical for us, but its impact on Iraqi football will be enormous”.0Shares0000(Visited 1 times, 1 visits today) 0Shares0000Iraq, which competed in the Gulf Cup of Nations in Kuwait City in January, hopes to convince FIFA to lift its ban on home competitive internationals © AFP/File / Yasser Al-ZayyatBAGHDAD, Iraq, Feb 26 – Iraq is hosting a football international against Saudi Arabia on Wednesday for the first time in almost four decades, in a friendly encounter with high diplomatic and political stakes.With its match in the southern city of Basra against the Saudis who have qualified for the 2018 World Cup finals in Russia, Iraq aims to strengthen its case for FIFA to lift its ban on home competitive internationals.last_img read more

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‘We’re not big enough’ – Arsenal fans respond to rumoured £80m transfer

first_img Juventus midfielder Paul Pogba has been linked with a move to Arsenal Arsenal fans aren’t used to seeing their side splash the cash on the planet’s top talent, so you can imagine how excited they were when boss Arsene Wenger spent two consecutive summers dipping into his pocket to land Mesut Ozil and Alexis Sanchez.According to rumours circulating in the press, he could take that to the next level at the end of this season by making an astonishing £80m move for Juventus star Paul Pogba.While the reports have knocked some fans sideways, others are a little more sceptical as to whether the club could attract one of the world’s most sought-after talents. To get a flavour of their thoughts, scroll down…Arsenal fans, do you think you could land Paul Pogba? Comment below… 1last_img read more

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Women’s Basketball with League-High Five Named to MVC Scholar-Athlete Teams

first_imgST. LOUIS – The Drake University women’s basketball has a league-high five student-athletes named to the Missouri Valley Conference Women’s Basketball Scholar-Athlete teams and has the MVC Scholar-Athlete of the Year, Sara Rhine (Eldon, Mo.), the MVC office announced Tuesday, March 6. Rhine is just the second MVC Scholar-Athlete of the Year in school history and the first since 2008. This is the first MVC Scholar-Athlete honors for Hittner and Rhine. Hittner, who owns a 3.96 cumulative grade point average in marketing, was picked MVC Scholar-Athlete of the Week three times this season. She started all 30 games, ranked second in the conference in scoring at 15.7 points per game and led the MVC in three-point percentage at 44.0 percent. Hittner, who was the 2017 MVC Freshman of the Year and member of the 2017 All-MVC First Team, raised her already impressive play to another level in league play this year. She narrowly ranked second in scoring at 16.0 points per game, ranked fourth in shooting percentage at 53.5 percent and made 50.7 percent from behind the arc and shot a league-high 95.7 percent from the free throw line. Hittner is the first MVC player to post 50-50-95 shooting numbers in league play in 15 seasons. This is the second-time Dean, who owns a 3.52 GPA in actuarial science and finance and is taking class in Drake’s MBA program, has been selected to the MVC Scholar-Athlete Second Team in her career after being named to the team in 2016. She missed all of the 2016-17 season due to injury, but returned to play in all 30 games this season, scored 1,000th career point and earned her first career MVC Scholar-Athlete of the Week award. As of March 5, Dean is one of just four active MVC players to score 1,000 career points. She has scored eight or more points in 22 games and leads the MVC in assists per game in league play at 4.1. This is the first career MVC Scholar-Athlete honor for Bachrodt, who maintains a 3.50 GPA in finance and has started all 96 games in her career. This season, she is averaging impressive stats across the board at 10.5 points, 4.0 rebounds, 3.9 assists and 2.0 steals per game. Bachrodt, who was selected to the preseason All-MVC First Team, leads the MVC in assists with 117 and is second in steals with 60. She is No. 9 all-time at Drake in career steals with 195. Lindsay Whorton is the only other Drake women’s basketball player to be named MVC Scholar-Athlete. Rhine, who holds a 4.00 GPA in elementary education, was named MVC Scholar-Athlete of the Week a league-high five times this season and last week was tabbed to the CoSIDA All-District team. She played in 28 games, averaged 15.6 points per game (4th in MVC) and 6.0 rebounds per game (9th in MVC) and shot a league-high 58.4 percent from the floor. Rhine, who played in just eight games in 2016-17 due to injury after being named the 2016 MVC Freshman and Sixth Player of the Year, tied Hittner for most 20-plus point games with six this season. She is already one of the most accurate shooters in program history with a 59.1 percent clip, which ranks third all-time. Rhine needs just 30 more points to reach the 1,000-career point mark.center_img Becca Hittner (Urbandale, Iowa) and Rhine were each selected to the MVC Scholar-Athlete First Team while Maddy Dean (Jordan, Minn.) was voted to the MVC Scholar-Athlete Second Team. Rounding out the group is Sammie Bachrodt (Wichita, Kan.) and Becca Jonas (Independence, Mo.) who each garnered MVC Scholar-Athlete Honorable Mention accolades. This is the second-straight season Jonas has earned MVC Scholar-Athlete honors after she was a member of the 2017 MVC Scholar-Athlete Second Team. She holds a 3.93 GPA in digital media production and is a two-time MVC Scholar-Athlete of the Week winner. Jonas played in 28 games, averaged 6.6 points and 5.2 rebounds per game and shot a conference-best 67.9 percent from the field in MVC action. Drake is the top seed at this week’s MVC Tournament at the TaxSlayer Center in Moline, Ill. The Bulldogs will play either No. 8 Valparaiso or No. 9 Loyola on Friday at 12 p.m. Print Friendly Versionlast_img read more

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Super 8: Onduparaka stands in KCCA FC’s path to final

first_imgKCCA FC defeated Wakiso Giants to reach the semis. (PHOTOS/File)Pilsner Super 8KCCA FC vs Onduparaka FCStarTimes Stadium, LugogoFriday, 16-08-2019 @4pmLUGOGO – KCCA FC will host Onduparaka in the second semi-final of this year’s Pilsner Super 8 on Friday afternoon in Lugogo.Vipers defeated Mbarara City on penalties and are currently waiting on the winner between the Kasasiros and Caterpillars.KCCA FC are the defending champions of the competition, having defeated Onduparaka 2-0 in the final of the last edition.Mike Mutebi’s side will be favourites to win the contest as in the past, they have always gotten the better of the Caterpillars.In their previous 6 meetings, the Kasasiros are unbeaten in this fixture, winning five and drawing the other game.Last season, KCCA FC enjoyed a double over Onduparaka and will be aiming to make it another victory over the Arua-based side.Onduparaka’s only victory in this fixture dates back to September 9th 2016, the first time the two met in a competitive fixture.However, despite the brilliant record against the Caterpillars, KCCA FC head coach Mikle Mutebi is not taking the visitors lightly.“This is a chance to reach another final for us and we will try and take it with both hands, said Mutebi.“Onduparaka have been one of the most impressive sides since they were promoted in 2016 and we will give them the respect they deserve as they have good players who can cause us issues.KCCA FC are riding high on confidence, coming off a triumph in the CECAFA Kagame cup, their first regional title in more than 40 years.The y are representing Uganda in the CAF Confederations Cup and will use Friday’s game as part of preparations for the second leg tie at home to Namibia’s African Stars, next week.“Most of our focus is on the return leg against African Stars, continued Mutebi.“We trail 2-3 from the first game and our intention is to go into the game very high on confidence. So we want to win Friday’s game and hopefully push the momentum into next week.To get into the semis, KCCA FC defeated Wakiso Giants 2-0 away from home in the last 8 while Onduparaka required spots to eliminate Tooro United.Pilsner Super 8  latest results-Vipers SC 1(5)-1(3) Mbarara City-Wakiso Giants 2-1 Tooro United-URA FC 1(5)-1(4) Proline FCComments Tags: FUFA Super 8KCCA FCMike Mutebionduparaka fctoplast_img read more

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Leicester City boss Pearson encouraged despite defeat at Chelsea

first_imgNigel Pearson said he would leave Stamford Bridge with positive feelings about the season ahead despite his side’s 2-0 loss at Chelsea.The Leicester City boss said he drew comfort in particular from the way his side refused to be cowed by the title favourites during a vibrant first half for the Foxes.“We’re disappointed that we were unable to convert what was an encouraging performance into a reward with points, but certainly there are a lot of positives from today,” Pearson said.“The good thing is that we created chances throughout the game and made their goalkeeper work. In the first half in particular, we didn’t wait to see how Chelsea were going to approach the game.“We wanted to be positive and I think for the most part we played very well today. I thought we put in a very honest performance.“We didn’t find enough quality later on in the game, but there were some really good aspects of our performance today.“We are a capable side, but today shows you what a difficult league it is to operate in.”Follow West London Sport on TwitterFind us on Facebooklast_img read more

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Video shows wild boar attacking man, but people doing little

first_imgThe video of a man being attacked by a wild boar, but people around him doing little to save him has gone viral on social media.The incident reportedly took place at Nakul Sukdi village in Tumsar taluka of Bhandara district in Maharashtra. The video shows a man fallen to the ground with a cycle and being repeatedly hit by the wild boar. It shows the man helplessly beating the boar with a stick, even as the animal continues to batter and maul him. The video, apparently shot from a truck parked closeby, shows some men standing on that vehicle shouting but doing little to help the man. After a few minutes, the man manages to save himself from the clutches of the wild boar, which then disappears into the nearby forest area.last_img

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Mamata Banerjee pays tribute to ‘prides of Bengal’ at Writers’ Building

first_imgMamata Banerjee’s penchant for painting is well-known. Her closeness to Kolkata’s cultural circuit is also no secret.But no one would have imagined that power would have the effect of turning Bengal’s Didi – known more for her rabble- rousing skills before she wrested Writers’ Buildings from the Left – into a singer as well.Or that her new-found love for art and culture would turn the corridors of power into a virtual theatre.Governance, of course, takes a back seat whenever the chief minister is in a mood to celebrate.And there’s no dearth of occasions to celebrate – Bengal has produced enough eminent persons whose birth and death anniversaries are on Mamata’s ‘must’ list.In August alone, at least five such ‘prides of Bengal’ – singer Kishore Kumar, theatre personality Shambhu Mitra, legendary Rabindra Sangeet singer Debabrata Biswas, Nobel laureate Mother Teresa and poet Kazi Nazrul Islam – had their anniversaries celebrated at the state secretariat.On these occasions, Mamata and her cabinet colleagues were seen singing songs along with artists at the rotunda – the main corridor in front of the CM’s chamber.On Monday, the CM, ministers and government secretaries celebrated Nazrul’s death anniversary at Writers’ Buildings, ignoring the workload on the first day of the week.Singer-turned Trinamool Congress MLA from Uttarpara, Anup Ghosal, sang Nazrul’s songs on the occasion, regaling everyone.Ghosal, incidentally, has not bothered to visit his constituency even once after the assembly elections.On August 26, a cultural performance by nuns of the Missionaries of Charity and others was organised at Writers’ Building to mark Mother Teresa’s 101st birthday.advertisementWith precious work hours wasted on such occasions, questions are being raised whether the government can organise such events at the secretariat building, ignoring important works.According to sources, the information and cultural affairs department should pass a government order before organising such programmes.”There has to be a yearly calendar for these occasions. But the Trinamool government has not prepared any such calendar so far. They are organising these programmes according to the chief minister’s desire,” an official, who did not want to be named, said.He said during the previous Left Front government, such events used to be held at the state- run Nandan cultural complex.The Opposition Left parties have, predictably, lashed out at the CM. “No one can organise such programmes at Writers’ premises whimsically without proper notice and government order. It’s illegal and a sheer waste of precious working hours on busy week days. It never happened earlier,” former state sports minister Kanti Ganguly said.During her stint as Union railway minister, too, Mamata used to organise cultural programmes to mark Indian Railway’s landmark journey. Popular Bengali singer Nachiketa, Pallab Kirtaniya and others, who rallied for her during the Nandigram anti- land acquisition movement in 2007- 08, had become familiar faces at such railway-sponsored programmes.It’s not just the Left that is making a song and dance about the issue. Mamata’s love for music earlier also shattered the peace of Kolkata residents.The CM had asked the state administration to play Rabindranath Tagore’s songs at every major traffic signal across the city. It became a nightmare for the residents of those areas, with Rabindra Sangeet playing at high decibel throughout the day.last_img read more

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New Hype Video Celebrates Oklahoma’s Season As The College Football Playoff Looms

first_imgOklahoma's Joe Mixon hurdles defender.YouTube/Swanny JLast season did not live up to expectations for the Oklahoma Sooners. The team dropped games to most of the top Big 12 teams, including Baylor and TCU, lost a heartbreaking Bedlam game, and was blown out by Clemson in a bowl to finish 8-5. This season could not have gone more differently. OU sits at 11-1, with sole claim to the Big 12 title, and an almost-inevitable College Football Playoff berth. With their regular season over, FiveThirtyEight gives Oklahoma the best chance—99-percent—of any contender to make the field of four. To celebrate what turned into a magical Sooners season, YouTuber Swanny J has put together a new hype video celebrating the impending playoff berth. Get excited, Sooner fans. last_img

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