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Momodou
Denmark
11640 Posts |
 Posted - 08 Jun 2023 : 14:42:13
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BUYERS OF JAMMEH’S SEIZED PROPERTIES REVEALED
The Standard: June 8, 2023
By Sheriff Bojang
https://standard.gm/buyers-of-jammehs-seized-properties-revealed/
Twenty-three individuals and 12 companies have shelled out over D1.1 billion to buy 44 properties belonging to former president, Yahya Jammeh, The Standard can reveal.
Jammeh was head of state of The Gambia from July 1994 to January 2017 when he was forced into exile after losing an election in December 2016.
Accusing him of grand corruption and systemic economic brigandage, in July 2017, the new government established a commission of inquiry which 20 months later submitted a report revealing that President Jammeh had acquired 281 landed properties out of which 61 were outright purchases from their owners.
In September 2019, the government issued a white paper which accepted the commission’s recommendations for Jammeh’s properties to be forfeited to the state and sold.
Appearing before the National Assembly last December, Justice Minister Dawda Jallow revealed that 44 properties belonging to President Jammeh and his close associates were sold for D1,148,997,985.
He however declined to publicly reveal the identities of the buyers and what they paid for what properties on the grounds of protecting their “privacy”.
Many Gambians including legal commentators like lawyer Lamin J Darbo, accused Minister Jallow of “erroneously employing privacy as a prophylactic against accountability”.
At the time, the erudite lawyer told this paper: “Without question, the minister was aware that politically, philosophically, ethically and legally his postulation was wrongheaded. The transaction implicates no legitimate privacy issues.”
The Standard learnt that following demands from some National Assembly Members, the Attorney General’s Chambers finally provided the list “in confidence” to the representatives around mid-March but it was given to them only a few days ago.
Identities
The national pension fund Social Security & Housing Finance Corporation, Gambia National Petroleum Company and Star Oil bought Jammeh’s shares at Gam-Petroleum for D551,250,000.
Balafon Company and Corendon Hotels bought Royal Atlantic for D110,051,885 while the Central Bank forked out D100,250,000 for the Futurelec property along Bertil Harding Highway. Gamfood Trading Company bought Gam Veg for D60 million and Shyben Madi bought the Kanifing Industrial Estate Garage for D33 million.
Jah Oil snapped a property on No 16 Kairaba Avenue for D41,750,000 and other “obsolete assets” in Brikama for another D7 million.
Muhammed Jah of QGroup bought back the former CFAO Supermarket in Bakau for D21 million and Jengdula Nightclub in the approaches to Bakau for D1.6 million. His bank, AGIB also bought the property at No 78A Hagan Street for D6 million.
GSM company Comium bought Jammeh’s shares in the telco for D5,750,000 while one Serign Gai bought four properties in Banjul and Senegambia Junction for a total D58.8 million.
A certain Fanta Touray bought two properties in Banjul for D19,150,000 while another woman, Catherine Jabang, bought two properties in Kotu and Kololi for D11 million.
Manex Ltd owned by Narendra Rajwani and Emkay Stores owned by Nandkishori Rajwani bought properties in Banjul for D15 million and D4 million respectively.
One Mahadi Touray also bought three properties on Banjul’s Hagan Street for a total D12.8 million, with importers Fouta Enterprise purchasing the property at No 72 Gloucester Street in Banjul for D12 million.
Editor’s note: For a full list of the buyers and reactions to this article, read tomorrow’s edition of The Standard.
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A clear conscience fears no accusation - proverb from Sierra Leone |
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toubab1020
12306 Posts |
Posted - 08 Jun 2023 : 17:54:01
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Snippet from the above:
"Editor’s note: For a full list of the buyers and reactions to this article, read tomorrow’s edition of The Standard."
WOW, I expect the Standard's Readers figures will almost reach space
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"Simple is good" & I strongly dislike politics. You cannot defend the indefensible.
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Edited by - toubab1020 on 08 Jun 2023 17:55:48 |
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Momodou
Denmark
11640 Posts |
Posted - 08 Jun 2023 : 18:31:41
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Download the list of some of the buyers here in PDF whilst we wait for the rest of the list. |
A clear conscience fears no accusation - proverb from Sierra Leone |
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toubab1020
12306 Posts |
Posted - 09 Jun 2023 : 17:26:19
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quote:
Originally posted by Momodou
Download the list of some of the buyers here in PDF whilst we wait for the rest of the list.
Very interesting, I wonder if this list and the list that is awaited MAY cause some embarrassed faces amongst SOME readers who may have problems explaining the source of the money used for their purchases. |
"Simple is good" & I strongly dislike politics. You cannot defend the indefensible.
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Momodou
Denmark
11640 Posts |
Posted - 12 Jun 2023 : 12:53:19
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REPORT SAYS OVER D22M FROM SALE OF JAMMEH’S ASSETS UNACCOUNTED FOR
The Standard; June 12, 2023
By Omar Bah
https://standard.gm/report-says-over-d22m-from-sale-of-jammehs-assets-unaccounted-for/
The National Audit Office’s report on the 2019 government financial statements, has revealed D22,319,958 of proceeds from the sale of Jammeh’s assets was “unaccounted for” by the government.
According to the report, the General Triplicate Receipt book used for receipting monies for the sale of government assets reported by the Janneh Commission was not provided for inspection claiming that the book was missing after the sale of assets.
“The proceeds of these receipts amounting to D22,319,958 were collected from the sale of government assets reported by the Janneh Commission. The audit noted that receipts were not used to collect payments; instead, only written acknowledgements of receipt of payments were made. There is an increased risk of lack of transparency and accountability resulting in loss of revenue due to the government,” the report pointed out.
Flouting financial regulations
The auditors noted that virements amounting D67,960,645 were made between and across budget entities without evidence to suggest that they were approved by the minister of finance before transfers were made, contrary to the provisions of the Financial Regulations 2016.
The auditors also noted virements totalling D2,469,441,458 were made between and across budget entities without evidence of a formal notification sent by the finance minsitry to the budget agency/entities before or after virements are made contrary to the Financial Regulations.
The report added that a review of the financial statements against the cashbook report revealed a difference of D55,090,347 between the tax receipts disclosed in the statement of revenue and payments under note (3a-3f) of the financial statements, and the tax revenue receipted in the cashbook for the period under review and as a result the requirement of IPAS 1.3.12 was not met.
“There is risk that the revenue balance in the financial statements is misstated,” the report added.
According to the report, the borrowing balance amounting to D1,806,865,640 was understated in the statement of financial position which could lead to the misstatement of the borrowing balance disclosed in the financial statements.
“We noted an overpayment of USD4,871, equivalent to D244,228 in respect of interest payments. Government is at a risk of losing huge amounts of money due to overpayment of loan interests,” it added.
The report further revealed that the government failed to disclose The Gambia’s shares in the African Development Bank, Islamic Development Bank, and Ecowas Bank for Investment and Development which dated as far back as 2016.
As a result of its membership in these banks, the report added, the government pays subscription fees and is allowed to access loans and other membership privileges.
“We requested for the share certificates to establish the number of shares subscribed in these banks including the amount paid as subscription fees as well as ascertain the outstanding balances, but none was provided. As a result, we could not confirm the number of shares the government has bought as well as the unpaid balances disclosed in the financial statements,” the report added. |
A clear conscience fears no accusation - proverb from Sierra Leone |
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Momodou
Denmark
11640 Posts |
Posted - 14 Jun 2023 : 13:29:14
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AG SAYS REPORT OF UNACCOUNTED D22M FROM SALE OF JAMMEH’S ASSETS IS MISLEADING
The Standard; June 14, 2023
By Omar Bah
https://standard.gm/ag-says-report-of-unaccounted-d22m-from-sale-of-jammehs-assets-is-misleading/
Justice Minister Dawda Jallow yesterday told lawmakers that The Standard’s story on the National Audit Office’s report on the 2019 government financial statements, which revealed D22,319,958 of proceeds from the sale of Jammeh’s assets was “unaccounted for” by the government is “misleading”.
According to the report reproduced by The Standard verbatim, the General Triplicate Receipt book used for receipting monies for the sale of government assets reported by the Janneh Commission was not provided for inspection claiming that the book was missing after the sale of assets.
“The proceeds of these receipts amounting to D22,319,958 were collected from the sale of government assets reported by the Janneh Commission. The audit noted that receipts were not used to collect payments; instead, only written acknowledgements of receipt of payments were made. There is an increased risk of lack of transparency and accountability resulting in loss of revenue due to the government,” the report pointed out.
But responding to a question by the National Assembly Member for Kombo South, Kebba Barrow on the issue, Minister Jallow said: “What interest me is the bold headline by The Standard newspaper sighted by the member for Kombo South which says D22 millions of proceeds from sales of Jammeh’s assets is unaccounted for. I don’t know where The Standard got this from but I will refer you to page 96 of the 2019 Management Letter of the National Audit Report. There is nowhere where it says this amount is unaccounted for.
“This is proceeds that the Accountant General recorded as revenue and I can read for you verbatim what the auditors said which reads: ‘As part of audit of government of The Gambia Consolidated Financial statement, we noted treasury receipt amounting to D22,319,957.92 were reported as proceeds from the sales of assets by the Janneh Commission.’ So, it was already recorded as proceeds. How can you say it is unaccounted for? Sometimes when you see these newspaper headlines you begin to wonder what the agenda is. Is this deliberate or what is the purpose?” he queried.
Minister Jallow said all the auditors needed was additional documents which the Accountant General didn’t provide at the time but later provided. “But The Standard said D22 million was unaccounted for as if someone went with the money. I think we should be careful with these newspaper headlines and I don’t why they decide to do it that way,” he added.
Reacting to the attorney general’s statements, the author of the story Omar Bah stated: “We based our article on the latest GoTG 2019 Simplified and Summarised Audit Report which was published on 9th June 2023. Page 19 of the report under the title Unaccounted Revenue stated:
UNACCOUNTED REVENUE
Failure to provide information on sale of government assets
reported by the Janneh Commission
During the audit, we noted that the General Triplicate Receipt (GTR) book used for receipting monies for the sale of government’s assets was not provided for our inspection claiming that the book was missing after the sale of assets.
The proceeds of these receipts amounted to D22,319,958 were collected from the sale of government assets reported by the Janneh Commission.
The audit noted that receipts were not used to collect payments instead only written acknowledgements of receipt of payments were made.
There is an increased risk of lack of transparency and accountability resulting to loss of revenue due to Government.’
“What we reported is what is on the report. We will refer the matter to the National Audit Office for clarification to be published here.”
Reacting to Minister Jallow’s intimations of whether The Standard has “an agenda”, Managing Editor Sheriff Bojang said: “Of course we do and it is to report the news ungarnished. Let me assure Minister Jallow and all others that we have no desire or intent to wilfully and maliciously discredit the government or any other organisation or individual. Our agenda is to serve as a relay between the people and the government and between the peoples and engender debate on issues of national relevance so that at the end of the day the government is held accountable to an informed citizenry.” |
A clear conscience fears no accusation - proverb from Sierra Leone |
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toubab1020
12306 Posts |
Posted - 18 Jun 2023 : 12:53:36
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++++++++++
UPDATED Explaination NAO is rectifying this oversight :
https://standard.gm/nao-clarifies-d22m-unaccounted-for-from-sale-of-jammehs-assets/
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quote:
Originally posted by Momodou
AG SAYS REPORT OF UNACCOUNTED D22M FROM SALE OF JAMMEH’S ASSETS IS MISLEADING
The Standard; June 14, 2023
By Omar Bah
https://standard.gm/ag-says-report-of-unaccounted-d22m-from-sale-of-jammehs-assets-is-misleading/
Justice Minister Dawda Jallow yesterday told lawmakers that The Standard’s story on the National Audit Office’s report on the 2019 government financial statements, which revealed D22,319,958 of proceeds from the sale of Jammeh’s assets was “unaccounted for” by the government is “misleading”.
According to the report reproduced by The Standard verbatim, the General Triplicate Receipt book used for receipting monies for the sale of government assets reported by the Janneh Commission was not provided for inspection claiming that the book was missing after the sale of assets.
“The proceeds of these receipts amounting to D22,319,958 were collected from the sale of government assets reported by the Janneh Commission. The audit noted that receipts were not used to collect payments; instead, only written acknowledgements of receipt of payments were made. There is an increased risk of lack of transparency and accountability resulting in loss of revenue due to the government,” the report pointed out.
But responding to a question by the National Assembly Member for Kombo South, Kebba Barrow on the issue, Minister Jallow said: “What interest me is the bold headline by The Standard newspaper sighted by the member for Kombo South which says D22 millions of proceeds from sales of Jammeh’s assets is unaccounted for. I don’t know where The Standard got this from but I will refer you to page 96 of the 2019 Management Letter of the National Audit Report. There is nowhere where it says this amount is unaccounted for.
“This is proceeds that the Accountant General recorded as revenue and I can read for you verbatim what the auditors said which reads: ‘As part of audit of government of The Gambia Consolidated Financial statement, we noted treasury receipt amounting to D22,319,957.92 were reported as proceeds from the sales of assets by the Janneh Commission.’ So, it was already recorded as proceeds. How can you say it is unaccounted for? Sometimes when you see these newspaper headlines you begin to wonder what the agenda is. Is this deliberate or what is the purpose?” he queried.
Minister Jallow said all the auditors needed was additional documents which the Accountant General didn’t provide at the time but later provided. “But The Standard said D22 million was unaccounted for as if someone went with the money. I think we should be careful with these newspaper headlines and I don’t why they decide to do it that way,” he added.
Reacting to the attorney general’s statements, the author of the story Omar Bah stated: “We based our article on the latest GoTG 2019 Simplified and Summarised Audit Report which was published on 9th June 2023. Page 19 of the report under the title Unaccounted Revenue stated:
UNACCOUNTED REVENUE
Failure to provide information on sale of government assets
reported by the Janneh Commission
During the audit, we noted that the General Triplicate Receipt (GTR) book used for receipting monies for the sale of government’s assets was not provided for our inspection claiming that the book was missing after the sale of assets.
The proceeds of these receipts amounted to D22,319,958 were collected from the sale of government assets reported by the Janneh Commission.
The audit noted that receipts were not used to collect payments instead only written acknowledgements of receipt of payments were made.
There is an increased risk of lack of transparency and accountability resulting to loss of revenue due to Government.’
“What we reported is what is on the report. We will refer the matter to the National Audit Office for clarification to be published here.”
Reacting to Minister Jallow’s intimations of whether The Standard has “an agenda”, Managing Editor Sheriff Bojang said: “Of course we do and it is to report the news ungarnished. Let me assure Minister Jallow and all others that we have no desire or intent to wilfully and maliciously discredit the government or any other organisation or individual. Our agenda is to serve as a relay between the people and the government and between the peoples and engender debate on issues of national relevance so that at the end of the day the government is held accountable to an informed citizenry.”
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BUYERS OF JAMMEH’S SEIZED PROPERTIES REVEALED
