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Momodou
Denmark
11604 Posts |
 Posted - 07 Aug 2024 : 14:53:37
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NAM ALLEGES FOREIGN COMPANIES PAID KICKBACKS TO EVADE TAX ON PETROLEUM IMPORTS
The Standard: August 7, 2024
By Tabora Bojang
https://standard.gm/nam-alleges-foreign-companies-paid-kickbacks-to-evade-tax-on-petroleum-imports/
Testifying before a parliamentary inquiry into allegations of bribery and tax evasion by three foreign companies suspected of importing and selling petroleum products in The Gambia, the NAM for Lower Saloum has alleged that some officials reportedly received D600K kick-backs monthly from the companies.
The companies, Apogee FZC, Creed Energy Limited, and Ultimate Beige Logistics are being investigated by a joint parliamentary committee comprising the FPAC and PEC, which are looking into allegations that the three companies imported and sold petroleum products on a vessel from Russia, worth $30M without paying tax.
Sainey Jawara said his discussions with people close to the deal revealed that the oil shipment was initially destined for Ghana but it did not anchor there since the products did not meet Ghana’s petroleum policy requirements, but it subsequently headed to The Gambia.
He further narrated that officials of two of the companies, Creed Energy and Ultimate Beige, subsequently travelled to The Gambia to register their companies and ensured the shipment from Apogee can anchor in The Gambia to make sales and open a new market.
According to the lawmaker, they were eventually granted registration in The Gambia to commence operations while the vessel was awaiting in Gambian waters.
“I was told this vessel spent two months in our sea while negotiations were ongoing,” Jawara told the enquiry.
He continued: “There was no evidence of any income from the proceeds of these petroleum products and the Financial Investigation Unit’s intervention on the said products shows that they were shipped into the country without due process. The FIU went further to request from Access Bank and Ecobank the accounts opening package and the statement of accounts for the said companies with an intention to launch an investigation,” Jawara alleged.
He said an intelligence report received by the FIU suggested that certain individuals received “kickbacks in form of bribes amounting to D600,000 each monthly, from proceeds of the sales of these petroleum products.”
Jawara alleged that these monies were withdrawn from an account at Access Bank by one Aurimas Steblys, who was arrested, questioned and released by the police but it was recommended that he be further investigated to establish possible criminal transaction and loss of revenue to the state.
According to the witness, both the Gambia Revenue Authority and the police were provided with the FIU intelligence report to take further actions on the matter.
The witness stated that the FIU report also shows that the manner in which these companies [Apogee FZC, Creed Energy Limited, and Ultimate Beige Logistics] opened “so-called” sub-accounts at Access Bank and Ecobank are “not in line” with the provisions of the Anti-Money Laundering and Combating Terrorist Financing Act 2012.
Jawara said documents have also revealed that there was an agreement between Creed Energy and another holding company which was licensed by PURA to trade petroleum products in the country but it was never enforced.
He revealed that he has “real facts” surrounding the alleged criminal activities of these companies in partnership with other allies in the country.
“I have been following this case for over a year. I have real facts. If average citizens are able to pay tax, why would we have exemptions for these huge amounts of transactions? No company should be exempted from paying tax unless approved by the National Assembly,” Jawara charged.
At this point, the session was halted supposedly for a break. It is expected to continue.
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A clear conscience fears no accusation - proverb from Sierra Leone |
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Momodou
Denmark
11604 Posts |
Posted - 07 Aug 2024 : 14:58:13
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NAM leads evidence into Gam-Petroleum $30M saga
The Point: Aug 7, 2024
By: Jankey Touray & Jankey Ceesay
https://thepoint.gm/africa/gambia/headlines/nam-leads-evidence-into-gam-petroleum-30m-saga
National Assembly Member for Lower Saloum, Sainey Jawara, yesterday led parliament into evidence of the alleged petroleum product of 36,953.614 metric tons, valued at thirty million US dollars ($30,000,000) about two billion and ten million Dalasis (D2,010,000,000) by the Gambia Petroleum and Energy Company.
Following his motion to investigate the alleged issue on 22 July 2024, the Joint Committee on Finance and Public Accounts (FPAC) and the Public Enterprise Committee (PEC) were tasked to get into the matter within 90 days and get back to the plenary by October 22, 2024.
In his deliberation as the first witness into the matter, Hon Jawara revealed that the said vessels were from Russia and were to be anchored in Ghana. Unfortunately, he said, the policy gap in Ghana could not allow the vessels to anchor there, and then the ship stayed somewhere else for 3 months until it found its way to The Gambia.
“I was told that these ships were in the sea for 3 months when Apogee and GRID Energy, who were all Ghanaians, said, ‘Why don't we travel to Gambia and establish a company in Gambia, whereby this can come to anchor in Gambia and make a sales there’. I think that would be a problem,” said Hon Jawara.
Hon. Jawara further explained that WhatsApp audio messages detailed the negotiation, ultimate bid, and creation of Grid Energy to establish a company based on the idea that they were to sell Apogee products since they were successful in registering their company and he was told that during the three months, these vessels were in “our sea for negotiation”.
Similarly, the minister for Finance and Economic Affairs, Seedy Keita, on 14 July gave an account of a cargo landing with the said metric tons of petroleum products in the waters of The Gambia.
Minister Keita confirmed the arrival of the petroleum products on August 21, 2023, which were brought to The Gambia by GRID ENERGY and APOGEE. “A total of $1,452,915.45 was deposited in the Greed Energy and Apogee Ecobank Dalasi account, while the Dollar account had a deposit of $532,500,” he said. “Additionally, $1,692,431.55 was deposited in the Access Bank account.”
Minister Keita explained that when an OMC lifts a product from the depot, various taxes are calculated before the product is sold.
“Given the special regime of the petroleum industry, all taxes are calculated based on the uplift of the OMC and are payable between 25 and 31 of the month. And “This particular product has paid all taxes and duty applied to it. The supply of APOGEE was incorporated in Dubai UAE and had no business present activity in The Gambia before this transaction; therefore it is not within our tax jurisdiction,” the Minister stated.
The co-chair adjourned the hearing to address concerns about the witness's delivery of evidence, as it was the first time such matters were being investigated. |
A clear conscience fears no accusation - proverb from Sierra Leone |
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NAM ALLEGES FOREIGN COMPANIES PAID KICKBACKS
