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“Conduct of affairs at Sierra Leone Commercial: Bank ubiquitous and unsavoury”

Sierra Leone’s crème-de-la crème Bank-The Sierra Leone Commercial Bank, to put mildly is seemingly becoming an embarrassment in the Banking Sector in this country. When the Bank was set up in those thriving early days it was against the background of high hopes that it would play a leading role in the economic transformation in the development of the little outpost on the West African Coast with this higher Educational economic and society mature potentials.

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Never in the wildest dream of imagination of its creators, could it have been concerned that in less than a century, the SLBC could become the haven of criminal manipulators to bleed the economy dry from its financial capital base.

The quick action of the authorities at the Central Bank of Sierra Leone, must be lauded, in halting the country’s fledging economy from slipping through a large drain pipe into swift morning sands below to a destination to be called “OBLIVIOUS” Sierra Leone was proceeding to the edge of a catastrophic economic and social disaster if the Banking Regulatory Body-“The Central Bank”, had not intervened.

Could the Board of Directors of the SLCB is said to have been aware, but turned a blind eye to the issue.  With the shrewd and astute chairman of the Board, one would have thought that should would not have happened.

The whole intention that was geared towards defrauding the Bank came to light through the exposure of one Kabba Kalu a man described as a “wheeler Dealer” involved in a money transaction to a staggering sum of Le 20.7 billion.

Could such a transaction or account have evaded the watchful and sensitizing eye of the Managing Directors of Long Professional Banking involvement Mr. Crispin Deigh or could it be said he was an accomplice to all that went on? Investigations believed to have been conducted by the Central Bank, the ACC and possibly The Criminal Investigation Department of the Sierra Leone Police have revealed astonishing messages to the public. On the generality of issues splintering away from such fraudulent activities within the active operational period of any Government, spiteful fingers are bound to point at the appointment of questionable persons to hold high offices in pivotal location that any in the end affect the forward thrust of the Administration of the Country as a whole.

This press holds the view that this particular fraudulent activity must be dealt a hard blow that will never see it resurface anywhere else in any institution of the Government of this country. The gains made by Government must not be allowed to be reversed.

As a national Commercial Bank, exemplary conduct of affairs would have been the hallmark and baseline for emulation by many such Banks in and around the country.

But disappointedly the Sierra Leone Commercial Bank Management as a whole has no doubt been ubiquitous and unsavoury. This therefore calls for a change of the structure of Management so as not to infect and infest the Banking Institution through streams of misconduct rising through the veins of the replacement structure. Sierra Leone’s reputation and development must never be allowed to be trampled upon by anyone, irrespective of colour, race or political connection.

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