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Saturday, January 23, 2021


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By Alagie Manneh & Baba Sillah Former President Yahya Jammeh has been accused of embezzling over 4 Billion Dalasis thereby completely destroying the economy of the Gambia. This startling revelation was made by the Finance Minister Amadou Sanneh at a press conference yesterday. Gamtel Gateway According to the Finance minister, it was discovered that the Gamtel ltd Gateway Termination Revenue had been siphoned by the President. The incomes emanating from international incoming and outgoing traffic are generated through this gateway and initially used by Gamtel, who is managing the Gambia’s Gateway project on behalf of the government, to offset its costs and loans. “However, the management of the gateway was contracted to third parties over the years, spectrum, system1, Tel. and MGI. Currently the government through Gamtel is having a five-year contract with MGI from 2014 to 2019. “Fellow Gambians, the incomes generated by this project were diverted from Gamtel to an account—International Gateway account at the Central Bank of the Gambia from the 13 September 2013 to 4 July 2014. This account had an accumulated deposit for this period US$5,421,732.91 of which US$5,421,440.61 was withdrawn leaving a balance of only US$292.37,” Mr Sanneh alleged. He added that on 10 July 2014 another account was opened called the Special Projects Fund. “A total US$45,194,083.24 was deposited over the period and US$45,171,420.05 was withdrawn over the same period leaving a balance of only US$110,630.42 as at 23 January 2017. “According to our preliminary findings, these amounts have been withdrawn in cash, in US dollars or Gambian dalasis and US dollars brought in the foreign exchange market thus creating undue pressure on both our reserves and exchange rates. These two accounts totaling US$50,615,816-22 in deposits of our international call terminating revenue have been withdrawn mainly in foreign currency and dalasis converted into foreign currency. Carnegie Minerals Project Under Carnegie mineral, the Minister went on, it has been revealed that an account was opened at Central Bank from 24 January 2012 to 30 December 2015 receiving D139.423 million as deposits and D139.312 million as expenditure. This leaves a balance of only D110, 630 as at this date today. He further said the account has been managed by the Office of the President and Yahya Jammeh and all expenditures were done at his directive or will. Social Security and Housing Finance The Minister revealed that Jammeh APRC administration has dipped its long arm into workers’ pension funds through rampant “executive directives” to the management of SSHFC, adding that millions have been spent on generators, aircraft, John Deree tractors etc. Gambia Ports Authority The minister said a preliminary review of GPA found that the Authority made some questionable expenditure in its business development expenses/Corporate Social Responsibilities account for 2015 and 2016. ”The GPA contributed towards Kanilai Alternative Medical Clinic, which was run by Jammeh, and hiring of tents for Sukuta APRC branch, payment for 200 T-shirts for APRC militants, and BCC, 50% payment to Ministry of Basic and Secondary Education for 22 July scholarship pageant.” Officials have vowed to recover stolen monies and resources that went missing under Jammeh. At the same conference, Interior Minster Mai Fatty said even if it means going to Equatorial Guinea, “we would leave no stone unturned in the drive to recover the Gambian people’s money.”]]>

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