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Friday, April 19, 2024

Commission demands NAWEC’s 2010 financial report

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By Baba Sillah

The Janneh Commission has yesterday asked Nawec’s financial director Amat S Cham to provide it with the 2010 audited financial report of the electricity giants.
Mr Cham reappeared before the Commission on matters relating to the company during that period.
In his testimony, he dwelled on the composition of the liabilities of Nawec. According to him, Nawec had been receiving invoices from Global Trading Group until when they were asked by the office of the former president to stop paying for the capacity charge.

However, he said he did not know why they were asked to stop paying the capacity charge.
Mr Cham denied that they have received a letter from the ministry of finance dated 18 November, 2014 to Global Trading Group indicating that the sum of $10.8million capacity charge should not be paid.
He further told the inquiry that there was a letter dated 18 December, 2014 written by the Ministry of Energy to the secretary general who did not respond. At this juncture, a letter dated 15 September, 2015 was shown to him, in which in the ministries of energy and finance were asking for a capacity charge. In response, he said he was not aware of the said letter, noting that the ministers of energy and finance signed it.

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Inquiry Commissioner George asked the witness if they did reconciliation with Euro Africa Group before the bond was signed, and he answered that there was a directive that they should not pay for the capacity charge and that they also got a letter from the office of the former president indicating that they should pay liabilities.
At that juncture, Commissioner Saine asked him what the basis was for Nawec being asked not to pay the capacity charge. He responded that he did not know, and that there was no correspondence why the capacity charge was stopped but invoices kept coming.

He explained that none of the cost of discount was part of the bond and that Nawec was supposed to pay all liabilities to Global Trading Group before the agreement was signed.

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