The controversial US$25 million Mop-up exercise has resurfaced again with former Finance and Development Planning Minister, Samuel D. Tweah, distancing himself and pointing fingers at the Central Bank of Liberia (CBL). Speaking over the weekend on Spoon Talk, Tweah denied his involvement in the execution or distribution of the US$25 million, insisting that responsibility rests squarely with the Central Bank of Liberia (CBL) and its former Executive Governor, J. Aloysius Tarlue, Jr.
According to Tweah, his portfolio as Finance Minister did not extend to monetary policy or currency injection, arguing that the Central Bank operates independently and executed the Mop-Up exercise alone.
“The Central Bank is independent. When the Central Bank prints money, the public does not know how much is printed because it should not be political, but this situation dragged them into politics. I was never involved in the US$25 million Mop-up exercise. That was never my role,” Tweah said. He rejected claims that the Economic Management Team (EMT), which he chaired, took over monetary functions from the Central Bank, describing such assertions as politically driven narratives to mislead the public.
Tweah: “The EMT did not conduct monetary operations. If you contact the Central Bank, the governor will tell you Samuel Tweah played no role. I was simply the head of the EMT, and they reported to us.”
He disclosed that the Mop-Up was carried out directly by the Central Bank, which reported stabilizing approximately LD$2 billion, adding that cabinet members were not auditors and therefore had no supervisory authority over the operation.
“The people investigated everybody. The committee meetings were cabinet sittings where the Central Bank reported. We were not supervising them. The President ordered an investigation, actions were taken against CBL officials, and some were suspended, dismissed, and taken to court. But I cannot be touched because I played no role,” he added.
Clarifying the function of the Economic Management Team, Tweah explained that although meetings were held at the Central Bank, the EMT was never established to monitor finances but to ensure national economic sustainability and productivity. He further noted that the Central Bank Governor served as Co-Chair of the EMT by virtue of his position, not as a monitor, but to address issues related to shortages of goods and services, while Tweah chaired the team based on his ministerial role.
