The Central Bank of Liberia (CBL) has said that a US$20M cash importation consigned to the Bank of Ghana (BoG) destined for Liberia is a legitimate transaction. CBL said that the importation of United States dollars is part of the Bank's normal function, which is required to meet the needs of the economy, including the USD withdrawal demands and needs of the Government of Liberia and the commercial banks. CBL and the Bank of Ghana (BoG) have long standing Cash Custody Agreement executed for the BoG to provide overnight custody for CBL imported cash when shipped from London by Travelex Currency, which is an international currency shipment company. "These cash shipments by flights are cleared through both the Ghana and Liberia Customs, thus validating their legitimate sources. "The CBL once again emphasizes its commitment to transparency and accountability and encourages the media to always reach out to the Bank to verify any information about the Bank`s operations before publication," the CL said in a statement. The BoG on its part also said that it has had a long-standing currency transfer arrangement with the Central Bank of Liberia since 2004, and per this agreement, the Bank of Ghana receives imported currency on behalf of the Central Bank of Liberia for re-export to Monrovia. The central bank said this after taking note of a news item circulating on social media, purported to "misinform and disinform the public", about the movement of Uncirculated Banknotes received by the Bank of Ghana, on behalf of the Central Bank of Liberia.