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Central Bank Reveals Preliminary Findings On Multi-Million Dalasi Allegation

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Buah Saidy
Governor Central Bank of The Gambia

By Buba Gagigo

The Central Bank of The Gambia (CBG) has revealed its preliminary findings on the D155 million mutilated banknotes allegation levelled against some of its staff.

“The Central Bank has launched an investigation on the matter and preliminary findings have revealed that: The Concerned staff has categorically refuted the allegations contained in the letter and has indicated that he is not involved and has no knowledge of the matter. 

“We can confirm that March 21, 2021, the indicated date on or around which the transaction is to have taken place fell on a Sunday when the entire Central Bank premises was closed and not accessible to the public. Some of the individuals named in the said letter are not known to the Bank, nor does the Central Bank have 9 dedicated night security guards as indicated therein,” the bank said in a statement on Thursday.

The Central Bank also said the said amount of money could not have been brought to the Central Bank without the knowledge of any other individual apart from the staff concerned.

“It should be noted that an amount of D155 million could not have been brought to the Central Bank without the knowledge of any other individual apart from the staff concerned. Besides, the said staff was not posted at the Currency Department during the period of March 2021,” the statement added.

The Bank assured the Government and the public that they are taking these allegations very seriously and would take all available means to deploy a full investigation into the matter

“Anyone found culpable will face the full force of the law. The Central Bank of The Gambia remains committed to transparency and accountability in its actions,” it continued.

The Central Bank Of the Gambia revealed its findings in response to a letter from the lawyer of the individual who levelled the allegation against the bank officials requesting a refund of the said amount.

The letter alleged that a staff of the Central Bank of The Gambia was given bank notes amounting to D155 million to change into new notes, who demanded D11, 100, 000.00 in exchange for the service, which was never rendered. 

“That our client paid all the above sums to you amounting to D11,100,000, and despite you have failed and refused to Issue the new notes as promised. It now appears that you had embarked on an exercise to defraud our client whilst still holding on the amount of D155, 000, 000, given to you. The status quo is no longer acceptable to our client. 

“Our instructions therefore that you return the sum of D155,000.000 together with the sum of D11,100,000 given to you, within one week of receipt of this letter, failing which, we have instructions to commence legal proceedings against you for the recovery of the said amounts, without further communication in that regard.

“Take notice that our client will also report the matter to the police for investigation and forward all the recorded conversations and other evidence in his possession for investigations and possible prosecution. This letter serves as a last warning to you,” the letter dated 10th February reads.

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