Tuesday, October 27, 2020

Untouchable Institutions For Public Accountability

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The Central Bank is the only authority responsible for issuing the currency of The Gambia.
It is the sole bank of the Government and the principal depositary bank for all funds raised for, or on behalf of, the Government.

It promotes and maintains the stability of the currency of The Gambia; directs and regulates the financial, insurance, banking and currency system in the interest of the economic development of The Gambia;

The authority of the Central Bank resides in the Board of Directors of the Bank comprising, a Chairman, who shall be the Governor and Chief Executive of the Bank; and four other Directors.

The members of the Board of Directors shall be appointed from among persons of standing and experience in financial matters by the President, in consultation with the public service Commission.

It is a matter of concern that a Chair of the Board of directors and Governor of the Central Bank is removed against his will.

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He has not been removed from office for wrong doing nor has he resigned.
The Attorney General is the Principal legal adviser of the Government and should look into the matter for further clarification and elucidation.

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