GAMBIA: OCEAN BAY HOTEL RECEIVERSHIP IS OVER-SOURCES REVEALED

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The auditors at the Augustus Prom auditing firm have finished the task that was bestowed on them by The Gambian government to act as receivership for the Ocean Bay Hotel. Ocean Bay Hotel was onetime owned and operated by the Social Security, Housing and Finance Corporation (SSHFC). The hotel was under the direct supervision of the SSFC for a period of twelve years.

The SSHFC, we are told, has invested D600 million dalasis since it claimed ownership of the hotel. The hotel was formerly called the Army’s Beach Hotel.

The late Saikou Ceesay was the owner of the hotel. It later ended in the hands of a Malian millionaire Baba Nding Funtanka Sissoho.

The hotel was later seized by the Jammeh dictatorship and was reportedly sold to the SSHFC. This followed, Sissoho’s legal problems with the US FEDS and Interpol. An international arrest warrant was issued against the Malian millionaire.

It is not clear as to what is going to happen to the hotel. It is not clear if The Gambian government will reimburse the SSHFC for the millions it had invested in the hotel.

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