By Lamin Njie
The Barrow administration has ordered the Central Bank of The Gambia to calculate all income earned by Trust Bank Gambia Ltd and Guaranty Trust Bank from the accounts of former president Yahya Jammeh and ensure they repay the entire sum to the state.
Trust Bank and GTBank have been found guilty of improper and illegal behavior by the Janneh Commission and the investigation has recommendation that the two banks be punished.
The Janneh Commission found that some of former President Jammeh’s accounts were opened at both banks with ‘no legal or legitimate basis and without compliance with the anti-money laundering act.’
The Barrow administration in a white paper released on Friday said it ‘accepts the commission’s recommendation that TBL should account for and refund to the state all the monies earned by way of fees and charges from the accounts.’
“The Central Bank of The Gambia is hereby requested to calculate/assess all the income earned by TBL from these accounts and refund same to the state,” the white paper said.
It added: “Additionally, the Central Bank is requested to impose punitive fines against TBL for failure to comply with anti-money laundering legislation, in addition to a fine of D1,000,000 imposed by the commission for the bank charges and other benefits they derived from these illegal transactions.”
Guaranty Trust Bank have also been punished in like manner.
