A day after his suspension as Governor of the Central Bank of Liberia (CBL) following an audit report from the General Auditing Commission (GAC) showing alleged financial irregularities, J. Aloysius Tarlue has taken flight to the Supreme Court, praying for a Writ of Prohibition against the Executive Branch of Government.
The suspended bank governor on Friday, August 2, 2024, informed Chambers Justice Yusuf D. Kaba that he had being wrongfully suspended by President Joseph Nyuma Boakai.
Tarlue in his 20-count petition claimed that his suspension should be by impeachment through the Legislature and not the President.
He prayed Justice Kaba for a writ of prohibition to stop President Boakai from his unlawful and illegal action towards him (Tarlue) while compelling President Boakai to show cause why the Peremptory Writ should not be issued.
The suspended CBL Governor argued that he was duly appointed as the Executive Governor of the CBL in accordance with controlling law of the CBL Act of the Republic of Liberia, on the 15th day of July A.D. 2021.
He stated that the content of his letter of appointment states that by virtue of his appointment as the Executive Governor, he had a definite term to serve and could not be dismissed by the President of Liberia or removed from performing his function, except by impeachment of the National Legislature.
The ex-CBL governor contended that Section 13.1 of the Amended and Restated Act establishing the CBL (1999) published into handbill on September 21, 2020, clearly states that the appointment of the non-Executive Governors, Executive Governor, and Deputy Governor shall be from among persons who are in good standing and of unimpeachable character from the business and academic community, with experience and expertise in the business of banking, finance, economics, law, or management by the President of the Republic of Liberia subject to confirmation by the Liberia Senate for five years.
Tarlue provided that the appointment procedure must be finalized within sixty days preceding the expiration of the term of the relevant no-Executive Governor with the condition that a Non-Executive Governor by effluxion of time shall be eligible for reappointment provided that he or she shall not serve for more than two consecutive five-year-terms.
Recently, the CBL Governor was suspended by Presidential Boakai after Tarlue was captured in a damaging GAC Audit Report regarding an alleged financial irregularities.
With that, President Boakai appointed Henry Saamoi as Acting Executive Governor of the Central Bank of Liberia, following an audit report.
The Liberian President reactivated the Economic Management Team to tackle economic uncertainties, coordinate fiscal and monetary policy, accelerate economic reforms, strengthen regulations and build resilient economy.
