Commercial Banks Complains of Receiving Mutilated Banknotes From Central Bank

The Central Bank of The Gambia Building in Banjul

New information has emerged that several commercial Banks have reportedly been written to the Central Bank of The Gambia, CBG, after discovering that their supply of cash from the banker’s Bank includes mutilated banknotes sealed in plastic bags.

It would be recalled that The Alkamba Times (TAT) reported in February 2022 the allegation that D155 million in badly-damaged banknotes were deposited at the CBG, to be exchanged for new banknotes, and that D11.1 million in bribe money was allegedly given to CBG officials to facilitate the process.

After it became public knowledge, the CBG management and police got involved and reportedly launched separate investigations, whose outcome is yet to be made known.

Meanwhile, TAT made a follow-up, and sources have now told TAT that after discovering the sealed packets of mutilated banknotes, their bank immediately wrote to the CBG demanding answers.

“We have written to Central Bank last week to demand an answer as to why we were given badly-damaged banknotes,” a senior official of a local commercial bank revealed to TAT.

At least eight (8) commercial banks including Guaranty Trust Bank, Trust Bank, Standard Chartered Bank, and Arab Gambia Islamic Bank reportedly received some of the said badly-damaged banknotes put in circulation from the CBG.

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Sainey M.K. Marenah
Mr. Sainey M.K. Marenah is a Prominent Gambian journalist, founding editor The Alkamba Times and formerly head of communications at the Constitutional Review Commission (CRC) and Communications and PR Consultant for The Gambia Pilot Program, under Gamworks. Mr. Marenah served as the Social media Strategist and Editor at Gambia Radio and Television Services. He is also the Banjul Correspondent for Voice of America Radio. Sainey is a human rights and developmental journalist who has carved a strong niche particularly in new media environments in the Gambian media industry. Mr. Marenah began his career as a junior reporter with the Point Newspaper in the Gambia in 2008 and rose through the ranks to become Chief correspondent before moving to The Standard Newspaper also in Banjul as Editorial Assistant and head of News. He is a household name in the Gambia’s media industry having covered some of the most important stories in the former and current government. These include the high profile treason cases including the Trial of Former military chiefs in Banjul in 2009 to 2012. Following his arrest and imprisonment by the former regime of President, Yahya Jammeh in 2014, Marenah moved to Dakar Senegal where he continues to practice Journalism freelancing for various local and international Media organization’s including the BBC, Al-Jazeera, VOA, and ZDF TV in Germany among others. He is the co-Founder of the Banjul Based Media Center for Research and Development; an institution specialized in research and development undertakings. As a journalist and Communication Expert, focused on supporting the Gambia's transitional process, Mr Marenah continues to play a pivotal role in shaping a viable media and communications platform that engages necessary tools and action to increase civic participation and awareness of the needs of transitional governance to strengthen the current move towards democratization. Mr. Marenah has traveled extensively as a professional journalist in both Europe, Africa and United States and attended several local and international media trainings.


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