The audit also exposed an overpayment of GMD9,802,232.80 for the construction of a new Banquet Hall at the Office of the President, leading to an overstatement of capital expenditures in the financial statements.
Furthermore, six deposit accounts totaling GMD32,296,375.16 were wrongly classified as liabilities instead of other income (revenue), further misstating the financial statement.
In a separate instance, a duty waiver of GMD28,982,351.00 was granted to Jah Oil Company, despite the company failing to meet the eligibility criteria. This resulted in an understatement of tax revenue.
The Auditor General's report also noted issues with the inclusion of non-cash items as Other Assets, violating the guidelines of the IPSAS Cash Basis, which mandates the recognition of all cash receipts, payments, and balances controlled by the entity.
These findings have ignited a firestorm of controversy, prompting calls for immediate action and accountability. The public is demanding transparency and a thorough investigation to ensure that such irregularities are not repeated in the future.
The Auditor General has revealed a series of financial irregularities within the Central Government of The Gambia, casting a shadow over the handling of public funds for the years 2021, 2022, and 2023.
The audit, which examined the financial statements, uncovered several instances of misuse, misclassification, and questionable practices that have raised serious concerns about financial governance.
