The Exchange Rate Stabilization Task Force, comprising personnel of the Central Bank of Liberia, National Foreign Exchange Bureau of Liberia (NAFEBOL), and the Liberia National Police (LNP) has heightened sensitization of businesses in Monrovia and its environs about the government’s recent directives to stabilize the exchange rate between the Liberian and US dollars.
On Wednesday, August 16, the taskforce engaged businesses and foreign exchange bureaus in central Monrovia, Sinkor, Matadi and Japan Highway (formerly Somalia Drive) and informed businesses about the importance of abiding by the government’s directives and also warning them about the penalties for breaching the directives.
The taskforce is also encouraging non-compliant foreign exchange bureaus to update their licenses while assisting unregistered financial institutions, including forex bureaus, to become legal.
The taskforce is divided into four teams: team 1 is covering Central Monrovia, Sinkor, Old/New Matadi, Old Road; team 2 covers Congo Town to R2 Community on the Roberts field highway; team 3 is assigned in the Paynesville to Mount Barclay areas; and team 4 is assigned in the Via Town, Bushrod Island, Duala, and Tweh Farm areas.