Liberian Bank Chief “Mills Jones Just Might Be the Man”

 

Mr. Editor,

In “Mills Jones Just Might Be the Man” (Sept 13), Keith Neville Best quotes someone praising Governor Mills Jones “because he (Governor Jones) has made putting money in the pockets of struggling, but enterprising Liberians, his number one priority”

Oh really???…But whose money has Governor Mills been putting “in the pockets of struggling, but enterprising Liberians”?

Is it the Governor’s own money or the bank depositors’ (other people’s) money??

We all know that Governor Jones has been going around the country bragging about “loaning” (Micro-Finance) someone else’s money to someone else!  But where does the Governor gets his authority to lend someone else’s money to “struggling or non-struggling Liberians???.

The powers delegated by the Central Bank of Liberia Act of 1999 are few and well defined. Part IX (Prohibited Operations of the Central Bank of Liberia) of the Act says that the Central Bank shall NOT make “secured and unsecured advances, whether by loans or overdraft” except in few cases!  And those few exceptions do NOT cover making risky loans to “struggling, but enterprising Liberians”!

So what part of “the Central Bank shall NOT make “secured and unsecured advances, whether by loans or overdraft” does our itchy beard Governor not understand

Look, if Governor Mills wants to advance his political ambitions and be the “The Man” in 2017, he should use his own damn money to make these risky loans (unsecured) to “struggling, but enterprising Liberians”!

But putting the Liberian taxpayers on the hook for these risky (unsecured) loans is an illegal and dangerous role of the Central Bank of Liberia!

Martin Scott

Atlanta, Georgia

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