By Breaking: An explosive People’s News investigation has uncovered a shocking scandal reportedly involving CBL Governor Tarlue and the board of governors who allegedly hijacked $2 million from the approved $8 million designated for the struggling Sapelle International Bank Liberia Limited (SIBLL).
The revelation, uncovered by a People’s News investigation, highlights the depth of corruption and malfeasance within the highest echelons of the CBL.
The resolution passed by the Board of Governors of the CBL on May 24, 2024, was meant to provide crucial financial support to the ailing bank and outlined specific allocations for the funds.
According to the resolution, $2 million was earmarked for settling legacy liabilities of SIBLL, while the remaining $6 million was intended to reduce the bank’s overdraft from $7.5 million to $1.5 million.
Additionally, $2 million was set aside as emergency liquidity assistance to enable SIBLL to participate in vital clearing transactions.
However, inside sources at the CBL have hinted that Governor Tarlue and certain board members may have received or perhaps diverted the $2 million approved to address liquidity issues confronting the SIBLL. Sources revealed that the 2M which should have hit the CBL’s account as per transaction royalty is not traceable at the Central Bank.
As per valid documents in the possession of this paper, Governor Tarlue including members of the board of governors of the CBL has allegedly been involved with financial transactions that are fraudulent, scheming and disingenuous.
This raises serious questions about the integrity and accountability of those in positions of power at the CBL.
The reported unauthorized transfer of funds has raised serious concerns about the integrity of the CBL considering that the SIBLL is still challenged with high liquidity problems.
By: Alphanso G. Kalama
