Charles Sirleaf, the son of former President Ellen Johnson Sirleaf, was arrested in the capital, Monrovia, on Thursday night, justice officials have confirmed.
He was a deputy governor of the Central Bank during the unlawful and unregulated printing of close to $104m (£78m) worth of local banknotes.
Justice Minister Musa Dean has told the BBC that he was arrested in connection with the Kroll Associates’ forensic report in which Mr Sirleaf was implicated as being one of those who was involved in the illegal printing of the banknotes.
“I have 48 hours to charge him” in accordance with the constitution, Mr Dean said when asked if the former president’s son had been charged.
The Kroll report said that Liberia’s Central Bank acted “unilaterally and unlawfully” by printing and importing into the country three times the amount of banknotes it had been authorised to do, a US-contracted international investigation has found.
Mr Sirleaf’s former boss and ex-Central Bank head Milton Weeks has also been detained.
Those detained have not commented.