Senior GTBank official sheds light on Kanilai Family Farms accounts

Thursday, December 14, 2017

Mr. Ayodele Bolaji, managing director of Guaranty Trust Bank, yesterday continued to testify before the Janneh Commission, relating to accounts opened by JFP, PEGEP and Kanilai Family Farms respectively.

According to him, the signatories to the President Empowerment for Girls Education Project (PEGEP) were Alieu Njie, Dominic Jammeh and Ramou Cole-Ceesay and the first transaction on the dalasi account was on the 28 July, 2002 while the last transaction was 12 September, 2017. He said that the last debit before it was frozen was on the 26 May, 2017. 

Mr. Bolaji testified that there was an inflow of D166, 666.60, further stating that there was a balance of D797, 211.41. On the Dollar account, he revealed that on the 8 April, 2010, the first payment was made into the dollar account and there was a cheque from the Taiwanese Embassy in relation to this payment. He added that there was a balance of $293.19, and that the last transaction was made on Jun. 3, 2014.

At that juncture, account opening information, statements of accounts and other related documents from these accounts were tendered and admitted as exhibits. However, Mr. Bolaji reiterated that the correct figure for the balance on JFP current account was D2, 848.37 instead of D332, 274.78.

On APRC Fund Raising Committee Account, he said it was opened on the 9 February, 2004 and the signatories were Abdou Badjie, Fatou Mbaye and Abdoulie John; adding that there was another fund raising account linked to the first one with the same signatories, noting that out of the three APRC accounts, one was an investment account. He said the balance on the first dalasi account was D112, 282.38 while the last transaction was on the 2 May, 2017 but was frozen. He said the account was funded through donations.

Mr. Bolaji further testified that on the 9 September, 2015, there was a transfer of D255, 000 while the sum of D150, 000 was paid for APRC gala dinner. On the other Dalasi account, there was no payment from the former government.

According to him, the APRC Youth Account was opened on the 21 September, 2016 and the signatories were Mayor Yankuba Colley, Babucarr Sowe, Abdou Badjie and Pa Sulay Faye. The first transaction on this account, according to him, was on the 22 September, 2017 and there was a balance of D1, 968.31 and the funds were also from donations.

On the July 22nd Anniversary Marathon Account, he stated that the signatories were General Yankuba Drammeh, Lamin Jassey, Mamud Jawla and General Musa Savage; adding that there was a withdrawal of D20,000 by General Musa Savage which was also a donation from government. He said the balance was D957, 385.93.

Mr. Bolaji further indicated that the Kanilai Family Farm Ram Sale Account was opened on the 18th of September, 2015 and the signatories were Isatou Auba and Yam Bamba Njie-Keita who were removed and replaced by General Sulayman Badjie and Mamburay Njie on the 21 October, 2015, further stating that the last transaction was on the 25 November, 2016, to the tune of D15, 833.38 while the balance was D2, 552,536.87 before it was frozen.

Mr. Bolaji further testified that there was a conversion of D100, 000 into dollars and the total deposit was D8, 564,570.26, further stating that on 16 October, 2017, Isatou Auba withdrew D2, 000,000 which was signed by herself and Yam Bamba Njie-Keita.

The GT Bank boss further revealed that another account called Kanilai Investment was opened on 6 August, 2009, with Dalasi account and Pa Ousman Bojang was the signatory.

He told the commission that the first transaction was on 29 December, 2011 and there was a withdrawal of D450, 000 while the last transaction was on 26 May, 2017, with a dividend payment of D1, 742,541.97, leaving a balance of D1, 756,216.16.

The senior banker informed the commission that the first transaction on the dollar account was $42,000 on the 6 August, 2009, from Green Impact. He said the last transaction on the account was $2,069,646.72 on the 21 July, 2016.

Documents relating to the accounts were tendered and admitted as exhibits.

Commissioner Saine, at that juncture, put it to the witness that the bank accepted a high ranking military officer to be a signatory to a corporate account without having a role in the company,and then asked whether this was normal. In response, he said at times this was acceptable.

The commission will today embark on a site visit.  

Author: Dawda Faye
Source: Picture: Mr. Ayodele Bolaji, MD Guaranty Trust Bank