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ACC and three others meet on Rokel Commercial Bank

ACC and three others meet on Rokel Commercial Bank

On Tuesday, 20th January 2015, the Anti-Corruption Commission (ACC) at its Gloucester Street office, played host to three leading institutions that strive to uphold integrity among financial intermediaries.  Sequel to alleged corrupt transactions at Rokel Commercial Bank (RCB), heads of the Bank of Sierra Leone (BSL), the Financial Intelligence Unit (FIU) and the National Commission for Privatization (NCP) met with the ACC team to strategize on how to eradicate illicit financial flows in the banking system.  (Photo: The ACC Commissioner, chairing the meeting)

The four institutions, agreed on the recapitalization of Rokel Commercial Bank and the Sierra Leone Commercial Bank, the two ailing banks owned by government.  The group agreed that the Commission should take steps to investigate the past administrations of the two banks.

The Commissioner of the ACC, in his statement, expressed disappointment about individuals that are bent on wrecking the country’s institutions and illegally enriching themselves.

If we do not work together to combat corruption and illicit financial transactions, the Commissioner stated,’ corrupt individuals will always have an edge over us”.

Whilst elaborating on the need for collaboration in the fight against corruption, Mr. Joseph Kamara further stated that to be ahead of corrupt individuals, information sharing is paramount.  The Commissioner also reaffirmed that posterity will judge us if we do not act now to discourage and fight against corruption.

“What I dread most is for my children to question me tomorrow for not having done enough today in the fight against corruption”, he stated.

The Commissioner encouraged the sister institutions to maintain their passion to discourage illicit financial transactions and any form of corruption in the banking sector.  He concluded that corrupt individuals have clandestine meetings to network on how to enrich themselves at the expense of the country.  He stressed that to counter the moves by greedy individuals that want to wreck the country, these four institutions should meet often to strategize better and be ahead of the corrupt.

The Commissioner and his Deputy, together with heads of BSL ,FSU, and NCP

The Commissioner and his Deputy, together with heads of BSL ,FSU, and NCP

Momodu L. Kargbo, the Governor of the Bank of Sierra Leone, also expressed his dismay about the alleged illicit transactions in the banking sector.  He initiated the idea of setting up a standing committee to look into problems highlighted in the banking sector by the Commissioner. In expressing his passion to tackle the issue of illicit financial transactions in the banking sector, the Bank Governor gave the Anti-Corruption Commission the green light to investigate the banking sector and prosecute any alleged corrupt malpractice.

The Deputy Commissioner of the Anti-Corruption Commission, Shollay Davies, equally agreed with the Governor’s stance to regularize the financial sector.

“I share the Governor’s passion to make sure that we streamline the financial sector and ensure that we maintain the integrity of our banking system”.

The Deputy Commissioner further stated that the negative implications of the financial sector to the economic growth of the country cannot be overemphasized.  He encouraged the newly established Standing Committee to work assiduously in an effort to sanitize the sector.

The meeting ended with a rejuvenated passion from the ACC, BSL, FIU and NCP to fight against corruption in illicit financial transactions.  The four institutions believe that this maiden meeting is a step forward to bring about sanity in the financial sector.  Other dignitaries present at the meeting were the Director of FIU, Ahmed B. Kamara and Senior Financial Analyst at NCP, Abdul Razak Tejan-Jalloh, who also positively contributed at the meeting.

ACC Freetown

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