The National Intelligentsia Youth Movement (NAIYM) has congratulated President George Manneh Weah for initial steps taken to restructure the Central Bank of Liberia but urges the President to move swiftly to complete the CBL restructuring exercise that requires the like of Prof. Wilson K. Tarpeh to come on board.
The Movement in a statement said it is pleased that pursuant to President Weah’s declaration months ago that he would restructure the Central Bank of Liberia towards improving the Liberian monetary and fiscal space he has taken delivery from a letter of resignation from former Executive Governor Nathaniel Patray.
That Mr. Patray, who served barely a year, was targeted for resignation towards restructuring the CBL confirms widespread suspicion that the Bank or its leadership constitutes the epic center of Liberia’s economic woes. It is therefore the considered opinion of NAIYM that the next head and the entire Executive Board of the Central Bank must be the best species of academic, moral and social standing—individuals tested and proven to be results-oriented, admired at home and abroad particularly within the finance and banking sector.
NAIYM indicates that it believe that Liberia is not short of experts in finance and banking who can turn country’s economic tide around for the better. The worry is President Weah is taking an unnecessarily long time to constitute the Executive Board, and many Liberians including those at NAIYM are having the impression that the President’s honest and earnest focus could be diluted by time.
Since the Liberian economy in which the CBL plays the most crucial role affects all Liberians, it is important every citizen helps the President, who has the ultimate appointment powers, in identifying the most suitable Liberian.
Based on consultation with a cross-section of national and international actors, NAIYM’s search for the next Executive Governor of CBL rests on Professor Wilson Tarpeh, the current Minister of Commerce and Industry. With such an experienced, qualified and tested financial ace like Professor Tarpeh in the corridor of this Government, it is mind-
boggling that the ruling class is still stuck in decision-making about selecting the country’s next CBL chief.
From comprehensive, comparative research of work histories of a couple of Liberians in the banking and finance sector, NAIYM uncovers only one man, Wilson K. Tarpeh, who not only have the requisite credentials, clarity and pedigree to deliver Liberia’s monetary crunch from its current debauched state to a solid anchor of recovery and development but also has got the much-needed international appeal and the mastery of the international monetary ecosystem. His experience and success story are undisputable.
Professor Tarpeh earned a Bachelor of Law (LLB) from the Louise Arthur Grimes School of Law, University of Liberia. He holds a Master of Business Administration (MBA) in Finance from the University of Pennsylvania. He earned a Master of Science (M.S.) in Accounting from the University of New Haven, New Haven Connecticut, USA. He earned a Bachelor of Business Administration Degree (BBA) in Management from the University of Liberia.
He is a man of impeccable working experience, an accomplished financial expert and administrator with over thirty-six (36) years of executive level experience in both private and public sectors, at home and abroad.
He served as President & Chief Executive Officer (CEO) of the Agricultural & Cooperative Development Bank (ACDB). He served as Executive Director of the African Development Bank Group. He served as Minister of Finance. He served as Executive Director of the Financial Sector Reform Secretariat, Office of the President of Liberia. He is former Managing Director of the Atlantic Finance Corporation (AFC), Executive Vice President for Africa, DNR Investment Group.
Prof. Tarpeh also consulted with the ADB, the United Nations Development Program, the European Union, United States Treasury, and the Government of Mozambique, among many.
How come Government is embroiled in marathon search for CBL’s new Executive Governor to lead the financial sector reform badly needed when a towering finance and banking paragon is dusting on the shelf with sparkling wisdom and energy is a puzzling proposition to behold, said the civil society organization.
NAIYM opines that Liberia cannot afford the next Executive Governor of the ailing CBL to come from professional and academic obscurity—someone who is unknown and will be played down nationally and internationally within the macroeconomic sphere. Such an individual could turn out to be excess baggage upon the nation and its meagre coffers, it said.
“The next CBL Executive Governor must be known and respected particularly by International Monetary Funds officials and must possess homegrown knowledge and awareness of our unique dynamics and circumstances. NAIYM believes deeply that Professor Wilson Tarpeh is just so suited. “
The press statement called on President Weah to lift his head high above the disturbing waves of ill-advice from individuals whose intent is to draw on friendship as to have another armchair or puppet Executive Governor they would use to defraud him and the nation. “We have had enough of that and the nation can no long stomach such fraud again.
“Prof. Tarpeh is tested and found most competent and suited for CBL Executive Governor. During the regime of President Ellen Johnson Sirleaf, Prof. Tarpeh came first from an internationally supervised vetting process for same Central Bank post ten years ago, but President Sirleaf had opted for the man who came fourth in the vetting process because Prof. Tarpeh is a member of the CDC, said the press statement, adding that “Our current economic situation urgently deserves his leadership, his zest and his ability.” The statement was signed by James Lumeh.