The Movement for Justice, Fairness and Freedom-Education Accountability and Social Justice (EASJ), has taken note of the announcement by the Central Bank of Liberia (CBL) regarding its proposed plan to print approximately L$79 billion in new Liberian dollar banknotes between 2026 and 2030, along with the introduction of a proposed L$2,000 denomination.
EASJ acknowledges the presentation made by the Executive Governor of the Central Bank of Liberia, Henry Saamoi, before the Liberian Senate, in which he outlined the phased currency printing plan beginning with L$14.7 billion in 2026, followed by L$64.3 billion over subsequent years.
In a release, EASJ noted that while the stated objectives-replacing worn-out banknotes, meeting transactional demand, and supporting monetary policy—may be technically justified, the magnitude of the proposed printing exercise demands the highest level of transparency, accountability, and public scrutiny.
EASJ notes with concern that the Central Bank of Liberia has not yet disclosed the total cost associated with printing the proposed L$79 billion in banknotes. Given Liberia’s recent history of public controversy surrounding currency printing, including the events linked to the Liberia banknote printing controversy, it is imperative that all financial, contractual, and operational details related to this new printing exercise be made public before approval is granted.
The proposal to introduce a new L$2,000 denomination also warrants careful evaluation. While higher denominations may improve efficiency in handling large cash transactions, they may simultaneously carry risks, including facilitating inflationary pressures, weakening public confidence in the national currency, and potentially enabling illicit financial activities if not properly regulated.
Furthermore, EASJ recognizes the CBL’s reference to potential “de-dollarization” policies, which could significantly increase demand for Liberian dollars. Such a transition, if pursued, must be carefully planned, gradual, and supported by strong economic fundamentals, including inflation control, fiscal discipline, and enhanced productivity within the Liberian economy.
EASJ therefore calls for the following the CBL to make full public disclosure of Costs: The Central Bank of Liberia must publicly disclose the total projected cost of printing the L$79 billion banknotes, including procurement contracts, vendor details, and financing arrangements. EASJ also wants the General Auditing Commission conduct periodic independent audits of the currency printing process to ensure compliance with procurement laws and financial regulations.
The CSO group called on the Liberian Legislature, including both the House of Representatives of Liberia and the Liberian Senate to ensure open hearings and public disclosure of all deliberations related to the proposed printing plan.
They want a comprehensive macroeconomic analysis be conducted to evaluate the potential impact of the new currency volume and the introduction of the L$2,000 denomination on inflation, exchange rates, and public confidence in the Liberian dollar.
The group also called on the Central Bank of Liberia to conduct nationwide public awareness campaigns to explain the purpose, timeline, and expected outcomes of the currency replacement exercise to prevent misinformation and public panic.
EASJ stresses that currency management is a matter of national security and public trust adding that any large-scale currency printing initiative must be executed with utmost transparency, fiscal responsibility, and strict adherence to Liberia’s financial governance laws.
The release is issued under the signature of Mr. Amen Saakollie Sheriff-Founder and CEO/Executive Director of the Movement for Justice, Fairness and Freedom Education Accountability and Social Justice (EASJ).
