Senate Approves CBL’s Request to Print L$79 Billion in New Banknotes

Published: July 17, 2026

MONROVIA — The Liberian Senate has concurred with the House of Representatives in authorizing the Central Bank of Liberia (CBL) to procure and print L$79 billion in additional Liberian dollar banknotes, clearing the way for the bank to replenish currency in circulation and address growing demand for local cash.

The decision, reached Thursday, followed the adoption of a report from the Senate’s Joint Committee on Banking and Currency, Ways, Means, Finance and Budget, and Public Accounts and Audits, which recommended concurrence after weeks of consultations and technical reviews.

The latest authorization follows the CBL’s revised request to the Legislature after concerns were raised over an earlier proposal. The Bank subsequently adjusted the quantity of banknotes it sought to print, maintaining that the exercise is intended to replace worn-out and mutilated Liberian dollar notes, improve the availability of local currency nationwide, and ensure an adequate supply of banknotes to support commercial transactions and the country’s monetary system.

Presenting the committee’s report, Chairman Sen. Joseph K. Jallah of Lofa County said lawmakers held extensive engagements with Central Bank officials and other stakeholders before reaching their recommendation.

According to the committee, the revised request was thoroughly examined to ensure it complies with the Constitution and Liberia’s financial laws.

The committee said the additional banknotes are needed to meet increasing public demand for Liberian dollars, replace unfit currency currently in circulation, and improve access to local currency across the country.

Lawmakers further noted that approving the request will strengthen the efficiency of Liberia’s monetary system while supporting the Central Bank’s statutory responsibility to maintain a stable and reliable supply of currency.

The Joint Committee also stressed the need for transparency, accountability and strict compliance with public procurement laws throughout the printing process.

Following debate, the Senate unanimously voted to concur with the House of Representatives, authorizing the Central Bank to proceed with the procurement and printing of the revised L$79 billion in Liberian dollar banknotes, subject to the oversight and accountability measures outlined in the committee’s report.

The Senate’s action completes legislative approval for the request, allowing the Central Bank to move forward with the currency procurement process under the conditions established by the Legislature.