At AGIB Bank Ltd, investigators confirmed the existence of two accounts in the name of Kanilai Family Farms. Both accounts were reported as blocked and had zero balances at the time of the review. However, the committee said it did not receive documentary proof that the accounts were formally closed, raising concerns that the blocking of the accounts may only have been an interim administrative step rather than a final termination.
Records show that on 14 June 2019 the Ministry of Justice instructed AGIB Bank to transfer D2,122,224.50 to the Ministry of Finance and Economic Affairs revenue account at the Central Bank. The bank complied with the directive, and the Accountant General later ordered that the funds be moved to the Consolidated Revenue Fund.
More worrying findings emerged at Vista Bank, where the committee examined multiple accounts linked to companies and projects associated with the former president. These included accounts connected to Euro Africa Group Limited, Kanilai Family Farm, Alhamdulillah Petroleum and Mineral Company, KGI International and related entities.
The committee discovered that some of these accounts still hold funds. Among them are accounts belonging to Euro Africa Group Limited with balances of GMD653,945.83 and GMD647,735.83, while smaller balances remain in accounts tied to Kanilai Family Farm and Alhamdulillah Petroleum and Mineral Company. Investigators said they were unable to obtain documentary evidence confirming that these balances were transferred into official asset recovery accounts.
Several other accounts were found to be dormant with zero balances but still open. These include accounts linked to JV.KGI, KGI International, KGI Japanese Rice and Operation Save the Children. According to the committee, the continued existence of such accounts creates an accountability gap because they may still be subject to administrative charges or potential future activity.
In some cases, the accounts have already slipped into negative balances due to accumulated bank charges. Accounts associated with Alhamdulillah Petroleum and Mineral Company, KGI International, KGI Boutique and Operation Save the Children now show negative figures, suggesting that the accounts were never formally closed after the recovery process.
The committee also revealed that when the Ministry of Justice instructed some banks to transfer funds to the government, the banks wrote back requesting account details and clarification on procedures for foreign currency accounts. However, investigators said they found no evidence that the ministry responded to those inquiries.
As a result, some funds appear to have remained in the banks while administrative charges continued to accumulate.
The committee has now recommended that authorities review the status of the accounts, transfer any remaining funds to the designated recovery accounts at the Central Bank, and ensure that all dormant or inactive accounts are formally closed to prevent further transactions or charges.
