Africa-Press – Liberia. The Central Bank of Liberia (CBL) has issued a stern warning to the public to cease and desist from transacting with BAYTEX, an entity presenting itself as a “digital susu” and investment platform.
In a formal statement, the CBL clarified that BAYTEX is neither licensed, registered, nor authorized to operate as a financial institution in Liberia. The Bank further emphasized that it has not approved Liberia Digital Susu as a product, investment platform, or mobile money–related service provider in the country.
The CBL disclosed that it is not aware of any legally licensed digital susu group that guarantees so-called “safe trading” or promises fixed or average returns ranging between 8 and 16 percent, as claimed by BAYTEX.
According to the Bank, BAYTEX has been circulating online flyers soliciting deposits from the public—starting at LRD 1,000—through Lonestar Cell MTN Mobile Money and Orange Money. The entity allegedly makes false and misleading claims, including assertions that customers’ funds are “protected” by blockchain technology with a 100 percent guarantee, and that a team of “licensed traders,” supported by artificial intelligence, manages funds safely.
“The Central Bank of Liberia HAS NEVER LICENSED BAYTEX or Liberia Digital Susu as a financial product,” the statement stressed, adding that any entity promising guaranteed returns is operating outside Liberia’s financial laws and regulations.
The CBL also clarified that while it recently launched the Interoperable Instant Payment System (IIPS)—which links Lonestar and Orange mobile money platforms—this does not constitute approval, endorsement, or licensing of third-party investment groups or schemes operating on those platforms.
CBL Executive Governor Henry F. Saamoi urged the public to exercise caution.
“The Central Bank of Liberia strongly advises the public to always seek verification directly from the Bank before engaging with any group or individual claiming to offer financial or investment services,” Governor Saamoi said.
“Any institution not licensed by the CBL poses a serious risk to the public’s hard-earned money,” he added.
The Bank called on all citizens and residents to remain vigilant, exercise extreme caution, and promptly report suspicious financial schemes.
The statement concluded with a strong cautionary message:
“DO NOT TRANSACT WITH UNLICENSED GROUPS. PROTECT YOUR MONEY. VERIFY BEFORE YOU INVEST.”
Members of the public who encounter suspicious schemes are encouraged to report them immediately to the Central Bank of Liberia through its official Facebook page or via hotline numbers 0887 367 539 or 0772 289 013.
For More News And Analysis About Liberia Follow Africa-Press
