The new government of President Adama Barrow has confirmed discovery of a big financial mismanagement on worker’s pension funds at the Social Security and Housing Finance Corporation and a questionable and wanton expenditures by Gambia Ports Authority (GPA) in its Business Development Expenses /Corporate Social Responsibilities Account for 2015 and 2016 respectively.
These discoveries were revealed on Monday, February 20, by the Minister of Finance and Economic Affairs during a press conference on the state of the country’s economy and the fraudulent activities by former President Yahya Jammeh and his APRC Government.
According to Finance Minister Amadou Sanneh, the Jammeh administration has dipped its long arm into workers pension funds through rampant ‘Executive Directives’ to the management of SSHFC and a total of D2, 094, 891, 000 was withdrawn by Executive Directives to a multitude of expenditures.
“The expenditures includes D74.517 million for NAWEC generators; D547.588 Million for loan repayments on behalf of NAWEC for ITFC and D74.662 million for interest charges for NAWEC. Another NAWEC generator acquisition amounting to D118.00 million was also made and some payments were received on this loan. Cost of John Deree tractors ($2.018 million) amounting to D57.092 million; and cash withdrawals of US$500, 000 twice totally US$1, 000, 000 were made from the SSHFC through Executuve Directives of Yahya Jammeh for expenditures unaccounted for an undocumented” he said.
Finance minister Sanneh revealed that all these expenditures were out of the ordinary workers’ accumulated pensions fund and out of a total of D2, 094, 891, 1000, the sum of D1.71 billion remains non-performing without any payment made to it.
Concerning the Gambia Ports Authority, Minister Sanneh said preliminary review found that the Authority made some questionable and wanton expenditures in its Business Development Expenses/Corporate Social Responsibilities Account for 2015 and 2016.
“GPA contribution towards Kanilai Alternative Medical Clinic run by Yahya Jammeh for D23, 000; hiring of tents for Sukuta APRC branch for D10, 000; Payment of 200T-Shirts for APRC militants and BCC for D75, 000; 50% payment to Ministry of Basic and Secondary Educarion for 22nd July scholarship pageant for D250, 000; Payment of D300, 000 for July 22, 20th celebrations; Honorarium to Volunteers at Dobong Farm D108, 000 on September 10, 2015 and another D108, 000 on December 18, 2015; Printing of Green T-Shirts for D255, 750 and payment sponsoring of a table for D375, 000 for APRC Peace and Love Gala dinner” he revealed.
In 2016, he said the GPA also made expenditures out of its Business Development Expenses/Corporate Social Responsibilities account , the resources of the Gambian people.
“Payment of its BusinessDevelopment Expenses/Corporate Social Responsibilities account of D500, 000 for Jammeh Foundation for Peace fundraising Gala dinner on 20th January 2016 and another D400, 000 for platinum plus and sapphire table to APRC Gala dinner; Payment of T-Shirts amounting to D46, 000 for July 22nd celebrations in 2016; Payment of 855 T-Shirts ecogroup for July 22nd celebrations 2016; Payment to security services of D60, 000 for July 22nd celebration in 2016; Payment of D40, 000 to APRC women rally at Jarra Soma in 2016; Payment of d356, 000 for 200 polo T-Shirts and 1300 T-Shirts for July 22nd celebrations; Payment of D110, 000 for 500 T-shirts for July 22nd celebrations; Payment of D105, 000 for T-Shirts for July 22nd celebrations; Payment of D21,000 for 100 T-shirts for APRC Award ceremony and payment of D18, 750 towards APRC Kiang West political rally” he disclosed.
According to Minister Sanneh, in 2016, the investigations discovered with shock that the GPA bough a new vehicle budgeted at D3, 000, 000 for D7, 527, 392.16, which is double the budget for the item. He then made it clear that these samples on public enterprise accounts of SSHFC, GAMTEL, GPA and Carnegie mining are reflections of the gross mismanagement of the Gambian economy by Yahya Jammeh and his government adding that the conduct amounts to total betrayal of the Gambian people leaving them with with monstrous debts amounting to D48.3 billion. He described the former APRC government as truly disaster in human rights, socially, politically, fiscally and monetarily, economically and financially.
He stated that the new government under President Barrow and the strong goodwill of international partners and the urgency with which they have come forth to assist and support a new Gambia that is full with freedom, democracy, human rights, rule of law and with sound fiscal and monetary policies, will strive and work and play to achieve the development aspirations of the people of The gambia. He assured that the government will take all steps and measures to ensure that all lost, stolen, and misappropriated assets are returned to the Gambian people and that the Ministries of Interior and Justice will have all the informations on these preliminary findings to take appropriate actions.
