Scary Revelations:Jammeh/Amadou Samba Secret Business Deals Exposed!!!

…Over D50 Million Dalasis of Social Security Funds Used to Fund GAMCO and Ocean Bay Hotel!!

“Legal action has been filed against GAMCO ( a so called public private partnership designed to siphoned off funds by the In Law of Abacha , Jammeh through his proxy Amadou Samba who also happens to be chairman of GT Bank and SSHF and Board Member of GAMCO. Do the math, classic example of conflict of interest.” Our source posited.

…GAMTEL,NAWEC SOLD-GPA IS NEXT-State House Sources Unveal!!

By Correspondent Ansumana Jammeh, Banjul.

Graphic revelations are emerging regarding President Yahya Jammeh’s “clandestine business activities” to milk the nation’s only Social Security and Housing Finance Corporation (SSHFC.), GAMTEL, GAMCO, NAWEC and other parastals in the country, thanks to the help of  the so called Gambian  business tycoon Amadou Samba. A well placed source close to the office of the President in Banjul, in a dispatch to the Freedom Newspaper, hinted about the economic crimes perpetrated by Jammeh and Samba to the expense of  the impoverished Gambian tax payers and work force, who are currently hard hit by poverty.

It’s estimated that close to D50 Million Dalasis collected by the Social Security and Housing Finance Corporation over the years, from the country’s poverty stricken working class were being diverted to foot Jammeh and Samba’s so called joined business ventures to the detriment of the nation. These workers, most of whom are in active duty, including pensioners, are being duped by the Gambian leader and Samba unbeknowing  to them. Messrs Jammeh and Samba  used their funds to run private business errands, according to a  highly respectable source close to the corridors of power. The Social Security, which is expected to safeguard funds belonging to our work force, has shirk its responsibility by allowing President Jammeh’s errand boy Amadou Samba to dip into the coffers of the SSHFC to finance their indebted GAMCO Company, a local business outfit engaged in Groundnut buying and other business ventures in the West African country.

Investigations conducted by the Freedom Newspaper reveals  that the funds used for the purchase and construction of the former Amie’s Beach Hotel, which was owned by the wanted Malian Millionaire Babanding Futanka Sissoho came from the coffers of the SSHFC. Andrew Silva was the Managing Director of the SSHFC at the time our “pensioners” funds were being pillaged without their consent or knowledge.

Our source who have been closely monitoring this “major graft” at the Social Security,  also explained how the President and Samba twisted the arms of these Civil Servants to divert our pensioners funds without giving due regard to corporate governance and the rule of law. Going by our source, the Social Security has been reduced as a “ scam” institution, where funds are being disbursed without any form of accountability and probity.

In his revealing and damaging dispatch, our source explained how the Social Security used the pensioners funds (Treasury Bills) as the collateral for the loans secured by GAMCO TBL and Guaranty Trust Bank respectively. These funds were used to run the activities of GAMCO.

“Legal action has been filed against GAMCO ( a so called public private partnership designed to siphoned off funds by the In Law of Abacha , Jammeh through his proxy Amadou Samba who also happens to be chairman of GT Bank and SSHF and Board Member of GAMCO. Do the math, classic example of conflict of interest.” Our source posited.

Amadou Samba has long been accused of  running President Jammeh’s shady business activities within and outside the country. First, was the sale of the Daily Observer, which many observers here in the country believe that  belongs to President Jammeh. That Samba was merely used as a front to purchase the paper. Samba was also said  to  have entered into a “clandestine crude oil transactions”  together with Edrissa Jobe on behalf of the President in 2004. Funds amounting to millions of dalasis derived from the said crude oil gift extended to our country by the authorities in Nigeria, ended up in a private Central Bank Account. The said funds were never accounted for, despited repeated queries raised by the main opposition United Democratic Party (UDP)  led by Ousainou Darboe.

Our source who pitied the country’s work force, in view of the secret underhand monetary transactions perpetrated by Jammeh and Samba to the expense of their own hard earned  money, noted that such a well coordinated graft should be documented  by the Freedom Newspaper for the sake of posterity. Our source also observed that the said revelations can be admissible in a court of law, should the affected workers intend  to seek redress in the courts now or after the fall of Jammeh.

Meanwhile, an official of  the SSHFC has confirmed to the Freedom Newspaper that the said funds were used to purchase the Amies Beach Hotel, now called the Ocean Bay Hotel. The official says Amadou Samba under his capacity as the Board  of Chairman of the SSHFC conspired with the President to swindle funds of the Corporation in the name of running the President’s  business interests in the country. “ Our pensioners have good reason to be worried, because their funds are being used without their approval. Very few people here knows about what is happening. Most of these workers will not enjoy the fruit of their labour because by the time they retired, their funds are gone. This office is Jammeh’s property and not the work force. It’s a risk for any worker to invest your money here. Your funds are being used to run Jammeh’s errands.” said the SSHFC official.

GAMTEL IN THE HANDS OF LEBANESE NATIONALS NOW!!

Gambia’s major telecommunication GAMTEL is now partly owned by some Lebanese so called investors. The government according to our source had given up their initial plan to sell the company to “GLOBAL VOICE.” First, our source went on” was Global Voice- A cowboy Haitian Company with links with the Baby DUC Duvalier. They taught Jammeh INC, how to milk GAMTEL using Voip- doing call termination whilst barring Everyone else from the Voip Market. Now we have a new interest (Lebanese of course 50 percent stake and a Management Contract.”

According to our source “the whole issue was shrouded in secrecy, the relevant institutions were not involved neither were the stakeholders consulted or informed.” This, said our source “violates the Government’s Financial Transaction Act or policy.” A certain provision of the said policy,  requires Government Departments or Head of parastals to tender such contracts or sales before entering into any business interest. In the case of GAMTEL and other private corporations,  there was no tender extended to the general public.

Authorities at GAMTEL could not be reached for immediate comments, but GAMTEL insiders say their company was partly owned by these Lebanese nationals. There was no reason advanced for the said move, but sources say it might have to do with the President’s new desire to have direct control over all money making institutions in the country.

NAWEC ALSO SOLD!!

Our source also went on to explain how the new NAWEC owners invaded GAMTEL.  “NAWEC – GLOBAL ELECTRICAL GROUP – M Bazzi – imports our diesel fuel ( Euroafrican oil) , Supplies us part of Electricity under an Independent Power Production Agreement and now have a management contract to run GAMTEL. ALL ONE PERSON.” Said our source.

All the above deals our source continued “have a common denominator – Jammeh has a stake through his team of proxies and cronies – Amadou Samba & Mohammed Bazzi  ( ASMB ruthless vulture capitalist inc I call them ) These are the tools of Jammeh and we must let the whole world know. Gambians lets wake up. Enough is enough. This is not about party politics. It’s  a simply an issue of loving and caring about your country.”

Our source said “the GIA has suffered the same fate and The Gambia Ports Authority is next.” It appears that President Jammeh is poised to sell our money making institutions  before leaving office. Observers here have warned against the legal implications of these so called investors entering business ventures with Jammeh, as such business firms  could be taken to court by any new government that is to come to recover the nation’s stolen coffers.

Many people here, are  alarmed by Jammeh and Amadou Samaba’s secret business activities with the sole aim of duping the state. Our source said Mr.Samba being a legal mind ought to have known better about the implications of his actions  by allowing to be used by Yahya Jammeh. Samba’s  role in the Social Security secret fund transfers to fund GAMCO and Ocean Bay Hotel business ventures shall continue to hunt him now and after the fall of Jammeh.

Our poor pensioners and the nation’s work force are being openly duped by those expected to jealousy safeguard their hard earned funds. It’s gathered that most of these workers were being issued with fake Social Security numbers, whose information were never documented into the Social Security database. Information relating to their account status was also being concealed. About 80 percent of the workers lacked information about their Social Security Benefits and their rights to access such funds when they become terminally ill.

Gambia’s Social Security  Housing and Corporation is not accountable to the workers and the country as a whole. Pensioners struggled to get their hard earned monies every month. Some received their payments in piecemeal due to lack of funds at the Corporation. Most of the funds preserved for the pensioners had been diverted by Jammeh and Samba in the name of running private business errands.

What is evident though is that the Gambia Ports Authority, is on verge of being sold as well. Our country is now in the hands of “Foreigners” who are being used by the President to meet his “get rich or die” dream. This administration have caused so much harm to our ailing economy. President Jammeh’s recent moves to distance himself from Amadou Samba is not going to help the situation. Samba has been his pet boy and shall always be his pet boy. Our source has promised to release more damaging information in days to come about the government’s money laundering schemes and other disturbing state matters. Please stay tuned!!!

Posted on Thursday, August 09, 2007 (Archive on Thursday, August 30, 2007)
Posted by PNMBAI  Contributed by PNMBAI
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