#Headlines

Assets worth 1.4b identified for sale

Jun 25, 2020, 12:27 PM | Article By: Ismaila Sonko

The attorney general and minister for Justice has informed lawmakers that after the Janneh Commission wrapped up work, assets identified for sale are expected to generate D1.4 billion.

Abubacarr Tambadou made this disclosure while responding to the questions from members of the National Assembly on Wednesday.

The Janneh Commission was established by President Adama Barrow government in 2017 to investigate the financial dealings of former President Yahya Jammeh and his close associates.

He said as at 15 June 2020, records at the Ministry of Justice indicate that at a total cost of D116,909,077 has been associated with the Janneh Commission recovery effort between July 2017 and June 2020. “We have recovered a total amount of D1,110,239,227 as well as an additional amount of D88,535,00 committed but still outstanding.”

He added that the recoveries have all been paid into a designated special recoveries account at the Central Bank of The Gambia under the control of the Finance and Economic Affairs except the D50,000,000, which was paid directly to the Truth Reconciliation and Reparations Commission (TRRC) victims Trust Fund as government's initial contribution to the fund.

Justice minister explained that the total amount includes proceeds of sale of some assets, payments made by some individuals against whom adverse findings were made by the Janneh Commission, and other monies generated from the activities of the Janneh Commission itself.

"I am proud to say that even at this early stage of recoveries, this is by far the most successful assets recovery exercise even undertaken in this country," he said.

“Over 11% of the total properties sold have almost reached the one billion dalasi target we had expected to generate from the sale of all the properties forfeited to the state, and have already surpassed this figure in our overall assets recovery efforts.”

"A full report of the process will be submitted to the government together with an audit report of the entire process at the end of the exercise and the government will be glad to share it with the Assembly," he said.

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