By Fatou Dahaba
Central Bank of The Gambia (CBG) Governor Buah Saidy on Tuesday disclosed to the National Assembly Special Select Committee on the sale and disposal of Janneh Commission-identified assets that the special U.S. dollar account opened to receive recoveries from the 2017–2019 Commission of Inquiry now has a zero balance.
Appearing before the committee, Governor Saidy explained that all government accounts, including those linked to the Janneh Commission recoveries, are held exclusively at the Central Bank and operated solely by the Accountant General’s office.
“The Accountant General is the only person who can write to the government and the Central Bank regarding these accounts. She is responsible for both inflows and outflows,” Saidy told lawmakers.
The accounts in question were opened on October 3, 2017, shortly after the establishment of the Janneh Commission, which investigated financial dealings under former President Yahya Jammeh. Signatories at the time included Momodou Bah (now Gambia’s Ambassador to the United States), current Accountant General Agnes Macaulay, and several deputy Accountant Generals.
The first transaction occurred on October 20, 2017, when US$258,506.25 was deposited into the dollar-denominated recovery account.
According to records presented by Governor Saidy, total deposits into the USD account eventually reached US$2,105,547.57. An identical amount was withdrawn, leaving a closing balance of zero U.S. dollars as of September 17, 2021.
He clarified that US$435,901.41 from recoveries was transferred to the Consolidated Revenue Fund, with the last recorded transaction on September 17, 2021.
On the parallel Gambian Dalasi recovery account, Saidy reported total deposits of D1,683,900,791.30 and total withdrawals of D1,582,900,791.00, leaving a balance of D101,000,000 as of November 17, 2025.
Recent activity includes a D11 million deposit from the Receiver on October 28, 2025, followed by a D80 million deposit from the same source on November 4, 2025.
Governor Saidy explained that the Accountant General has direct electronic access to the accounts via the government’s digitized payment system and can transfer funds to the Consolidated Revenue Fund or other CBG accounts without Central Bank approval. Physical withdrawals, however, require written instructions from the Accountant General.
Committee members requested copies of all withdrawal instructions, which Governor Saidy undertook to provide.
The testimony forms part of ongoing parliamentary oversight into the management and utilisation of assets and funds recovered by the Janneh Commission since 2017.
