MONROVIA, Liberia — A new report says Liberia’s central bank illegally ordered three times the number of bank notes it had been authorized to print — and now can’t say what happened to most of them.
The report by the U.S.-based firm Kroll Associates was commissioned after reports of missing money first emerged last September.
Local media initially said some $100 million disappeared in a foreign shipment of bank notes. However, the report says that’s not the case.
All the bank notes did arrive in Liberia between 2016 and 2018, but officials at the central bank failed to properly document what was done with them.
The report said most of them are believed to have been put into circulation without authorities removing and destroying the old bills they were designed to replace.
The Associated Press
