Monrovia, November 7, 2026 The Central Bank of Liberia (CBL) is aware of recent concerns regarding the ability of Cititrust Savings and Loans Liberia Limited (“Cititrust”) to meet withdrawal requests from its customers.
The CBL recognizes the concerns of affected depositors and wishes to assure the public that the matter is receiving its full attention. Through its supervisory activities, the CBL identified significant concerns regarding the financial condition, governance, and internal controls of Cititrust. In response, the CBL intensified its oversight of the institution, and placed Cititrust under enhanced supervision.
The CBL has deployed resident supervisors and implemented measures to protect depositors and safeguard the institution’s assets through close monitoring of the institution’s daily operations.
Similar supervisory concerns were identified at TipMe Liberia Limited (“TipMe”), a licensed payment service provider related to Cititrust through common ownership and the appropriate supervisory restrictions have also been imposed on TipMe.
The CBL has commissioned an independent forensic and special investigation to establish the financial condition of both institutions, assess compliance with applicable laws and regulations, and determine the appropriate regulatory response. Any violations or regulatory breaches identified through this process will be addressed through the appropriate supervisory, administrative, civil, or other legal measures available under the laws of the Republic of Liberia. The owners and management of the affected institutions have been directed to implement corrective measures, including the provision of additional capital and liquidity support. To date, these measures have not been implemented in a manner satisfactory to the CBL and sufficient to address the supervisory concerns identified.
The investigation and supervisory review remain ongoing. Pending the outcome of these processes, the CBL is taking precautionary supervisory measures pursuant to the New Financial Institutions Act of 1999, the National Payment Systems Act of 2014, and other applicable laws and regulations to protect depositors, preserve assets, Page 1 of 3 maintain accurate records, and safeguard the integrity of the supervisory and investigative processes.
As part of these measures, the CBL has restricted Cititrust Savings and Loans Liberia Limited from accepting new deposits and granting new loans and has directed that no assets be disposed of without the prior written approval of the CBL. These measures are intended to protect depositors and preserve the institution’s assets pending the completion of the investigation and supervisory review and should not be construed as a final determination regarding the financial condition of the institution or the outcome of any regulatory proceedings.
The CBL recognizes the concerns of depositors and customers who may be affected by the circumstances currently under review. Customers who have concerns regarding their accounts, transactions, or dealings with Cititrust or TipMe are encouraged to submit relevant information through official channels that will be announced by the CBL. This process is intended to assist the CBL in obtaining a comprehensive understanding of the matter and to support the ongoing review.
The submission of information should not be interpreted as confirmation of entitlement, validation of any claim, or a guarantee of repayment. The CBL further advises affected customers and members of the public to rely solely on official communications issued by the Bank and to exercise caution regarding information circulated through unofficial sources, social media platforms, or other unverified channels. Further details will be announced through official channels as appropriate.
The CBL urges all affected customers and members of the public to remain calm and to rely on official communications. Appropriate measures are being taken to protect institutional records, assets, customers, and the public as the supervisory and investigative processes continue. The CBL appeals to all affected depositors and members of the public to remain calm, pursue their concerns through lawful and official channels, and refrain from any actions that could endanger public safety, disrupt legitimate business operations, damage property, or compromise records and evidence relevant to the ongoing supervisory and investigative processes.
he concerns being raised are under active review and will be addressed through the appropriate supervisory, investigative, and regulatory mechanisms provided by law. Page 2 of 3 The CBL further wishes to assure the public that the supervisory concerns currently under review are specific to these institutions and should not be interpreted as indicative of the condition of Liberia’s broader financial system.
Licensed banks, nonbank financial institutions, and payment service providers continue to operate normally and remain subject to robust regulatory oversight and prudential supervision. The CBL continues to closely monitor the financial sector and stands ready to take all measures necessary to preserve financial stability, protect consumers, and maintain public confidence in Liberia’s financial system while ensuring that all supervisory and enforcement actions are carried out in accordance with applicable law and due process.
The CBL remains committed to safeguarding financial stability, protecting consumers, and maintaining confidence in Liberia’s financial system.
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