WHY ARE THERE DELAYS IN THE TRANSFER OF MONEY FOR BENEICIARIES FROM THE CENTRAL BANK?

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Government Revenues are deposited into the consolidated fund kept by the central bank. Those who have claims from different government departments and agencies must wait for transfers by the central bank to get their moneys. Currently the central bank is undergoing a process of reconciliation of accounts to remedy disequilibrium in its financial system. Those who have claims however are unable to understand the causes and consequences of the financial challenges facing the bank at the moment. It is therefore necessary for the bank to hold periodic press conferences to keep the media informed of what is going on. We therefore hope that as long as the problem remains the bank will undertake such review for the benefit of the public.

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