By By: Staff Writer
Monrovia – The Central Bank of Liberia’s enhanced supervision of Cititrust Savings and Loans and TipMe Liberia is a routine regulatory corrective measure and not a seizure, liquidation or confirmation of financial mismanagement, banking sources have clarified.
The CBL on November 7, 2026 announced it was placing Cititrust under enhanced supervision following concerns over its financial condition, governance and internal controls, and extended supervisory restrictions to TipMe Liberia on grounds of related ownership.
The CBL said it has deployed resident supervisors, temporarily restricted new deposits, new loans and asset sales, and requested shareholders to inject additional capital pending an independent forensic review.
Industry experts say such measures are standard practice globally when any financial institution faces liquidity tightness.
“Every growing Savings and Loans and microfinance institution goes through liquidity cycles. Enhanced supervision is how the Central Bank protects depositors and helps the institution stabilize. It is not a declaration of failure,” a senior banking executive said.
The institutions, which are widely reported to be linked to former Speaker of the House Cllr. J. Fonati Koffa, have served thousands of Liberians over the years, including small businesses, students and low-income earners, providing credit access where traditional banks do not.
There has been no finding by the CBL that depositors’ funds were diverted for political or personal use, and no revocation of license has been issued. The Bank itself emphasized that the situation is isolated to the two institutions and that all other banks remain stable and operational.
Sources close to the institutions say shareholders remain engaged with the regulator and are cooperating with the recapitalization and forensic review process to ensure full protection of customers’ funds.
Observers have cautioned that linking a normal regulatory process to politics risks undermining confidence in the financial sector and causing unnecessary panic among depositors.
The CBL has appealed to customers to remain calm and to rely only on official information from the Bank, with dedicated channels to be announced for affected depositors.
The forensic review and recapitalization process is expected to determine the next steps.
