New CBL Governor Sworn In, Promises Institutional Reform

CBL Governor Sworn Into Office
CBL Governor Sworn Into Office
Photo Credit: CBL

MONROVIA – August 6, 2018: At a ceremony in the Board Room of the Central Bank of Liberia (CBL), the outgoing CBL Acting Executive Governor, Hon. Charles Sirleaf, turned over the realms of executive power to Hon. Nathaniel R. Patray, III, the incoming (CBL) Executive Governor. The handing-over of the gavel of authority was followed by a Swearing-in-Ceremony in the presence of the Bank’s Board of Governors, senior staff and an array of journalists.


In his remarks, following the Swearing-In Ceremony, the new CBL Executive Governor spoke of a new dispensation at the CBL. He said: “One thing I want for you to bear in mind is that this is a new dispensation. This is a new Board; a new administration of the Bank.” Governor Patray however assured all CBL staff that, with the new dispensation, no CBL staff will lose their jobs, nor will the CBL budget, which was already approved, be changed, or salaries reduced.


Governor Patray promised to initiate an institutional reform process within the Central Bank as part of the ‘new dispensation’. He said: “The administration of the Bank, meaning the new administration, will soon commence an institutional reform process, targeted at achieving operational efficiency and effectiveness at this Bank”.


He further said that: “Improvements will be made in a number of areas, including, but not limited to accounting systems, human resources and independent external audit”.


The importance of operating within the chain of command was emphasized by the new CBL Governor, admonishing staff to channel issues through their immediate supervisors.


For Inquiries Contact: Cyrus Wleh Badio

Head of Corporate Communications

Central Bank of Liberia