6. Respondent alleges that the money the Applicant is laying claim to is a product
of suspicious transactions contrary to the monetary policy of the government of
Liberia and further claims that, Applicant was invited to provide information to
the authorities to prove that the transaction was legitimate but, the applicant
has not been able to furnish any proof till date.
7. The Respondent further claims that another Company Amni Petroleum
Limited has written to the Central Bank of Liberia to ask for the reparation of the
same money on the grounds that it was erroneously transferred to the account
of the Applicant. Respondent insists that it has not violated the right of the
Applicant to own Property.
The Applicant’s case:
8. The Applicant avers that it engaged in oil and gas business in Liberia and in
the course of its business activities, an inflow of Three Million Dollars
(US$3,000,000.00) was deposited into its account with First International Bank
Liberia Limited and the Respondent through its Central Bank confiscated the
funds on the allegation that it was a “suspicious transaction”. The Applicant
states that when it demanded for the release of the said funds, the Central Bank
of Liberia informed it that an investigation was being carried out into the
suspicious transaction and needed time to conclude same.
9. The Applicant maintains that despite several demands made for the release
of the funds, the Respondent continued to delay the release. The Applicant then
wrote to the Respondent vide a letter dated 5th April, 2016 and copied the
Liberian Senate demanding for the release of its funds. That by a letter dated
5th December, 2016, PricewaterhouseCoopers (Ghana) Limited, a Resolution
Agent appointed by the Respondent’s Central Bank wrote to the Applicant
informing them that Central Bank had taken over First International Bank Liberia
and requested the Applicant to lodge its claim with full supporting documents
to PricewaterhouseCoopers (Ghana) Limited. The Applicant asserts that its Chief
Executive Officer received a response from PricewaterhouseCoopers (Ghana)
limited acknowledging that they have received and validated their claims with
respect to the amount due to them.
10. Further to this, Respondent avers that the Liberian Senate Committee
Chairman on Concessions and Investment and the Chairman of Senate
Committee on Foreign Affairs upon its petition to the Senate wrote several
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