By Kebba AF Touray
The Central Bank of the Gambia (CBG) on Monday, 7 October 2024 reappeared before the National Assembly Joint Committee conducting an inquiry into a petroleum product smuggled into the country.
However, this time around the Bankers Bank requested their interface with the said committee in an “in camera” mode.
The said inquiry is being conducted by the parliament’s joint committee of the Public Enterprise Committee (PEC) and the Finance and Public Accounts Committee (FPAC) respectively.
The inquiry seeks to unearth the facts relating to the petroleum product of 36,935.614 metric tons, valued at USD30 Million, approximately Two Billion and Forty Million Dalasi (D2,040,000,000).
The CBG initially appeared before the inquiry, and on that day, pleaded with the committee to allow them to conclude their investigations, and report to the committee.
During the initial appearance, on 1 September 2024, the CBG appealed to the committee to allow them to finalize the report of their investigation and assured the committee of their reappearance on the next scheduled date.
At this stage, the committee considered the plea of the CBG, and rescheduled them to appear yesterday Monday, 7 October 2024.
The Governor of the CBG, Buah Saidy, during their first appearance, on September 1, 2024, described the matter as a serious allegation, and said it has an impact on the Gambian economy and the financial sector.
He told the committee that when they heard about the allegation on the fuel saga through the press, they promptly acted and the Banking Supervision Department did an investigation.
The Department, he said, has concluded its investigation and has a draft report, which is supposed to be sent to the Second Deputy Governor Mendy, as he is in charge of the financial sector, and he will send it for them to finally approve it for the release of the document.
Governor Saidy in his view, said the document will be shared with the joint committee, but said that they want to submit a document on the issue that will be fit for purpose.
“This document he said should be beneficial to the committee and the CGB, to be able to determine the possible damages on the economy and the financial sector, this report will inform us,” he told the committee, during their first appearance.
“We ask for a few days to finalize the report (to the joint committee). The Director of the Supervision Department will send it to Deputy Governor Mendy and we will bring it to your desk,” Governor Saidy appealed.
However, reappearing before the joint committee on Monday 7th October, 2024, the CBG Governor, requested for the committee to hold the hearing “in camera”, due to the sensitive nature of the information, as it relates to the banking system of the country.
Hon. Alhagie S Darboe, the Co-Chairperson of the Joint Committee, told the gathering at the opening of the interface that the CBG has written to the committee, to hold the engagement “in camera,” and that the committee after meticulous consideration, considered the request of the CBG.
Subsequently, the engagement with the CBG, on the inquiry into the petroleum saga to be held in camera was granted.
