Mega Bank and Central Bank of The Gambia

Central Bank, since 2014, has been overseeing Mega bank and everybody knows that this is not correct.They are regulators of every commercial bank so they should not oversee a bank for more than three years and now its five years. They even brought their old man Mr Jatta, who retired at 60 years to be the Managing Director. Mr Jatta was working before for Central Bank and when he retired they brought him to Megabank. The board of Director comprises of both the first deputy and second deputy governors. There is also a representative for Ministry of Finance, and an additional three more. They pay themselves D100,000 for every meeting. The Board has meeting every Quarter. The attach file shows December and June sitting, also when they feel they are broke they call on emergency meeting. They did this for Koriteh and had another one two weeks ago for Tobaski for a small bank like Megabank. They have no intention of selling the bank because they are enjoying free money, that is the only reason why they brought in Mr Jatta, scratch my back and I will scratch your bank.
Mr Jatta and his entire management are killing the Bank. Buba the Finance Director, Bilal the head of Forop each received D15,000 every month as what they say inconvenience allowance. They claimed that their cars are depreciated, and there are other cars that are depreciated as well. Also when Head of Finance, HR and all other heads present to the Board , they pay them D25,000. The bank doesn’t have money. They have only one main customer Lauras. They are not making money.
Recently, there was promotion. The only people promoted are favorites of Management. People were promoted from one level to four levels, some to three , and this is not correct. Bank Policy does not say so.
Nepotism is happening in the bank. Mr Jatta … his name sake Omar Jatta, he is in legal department. He also ….. his nephew Musa as a driver.  During the past promotion, he promoted Koita to four levels and made him Head of Compliant. He used to work at the Central Bank with Koita dad.Both him and Head of Finance are involve in shady deals. As for Head of Finance he is a….. He is never in his office. He has a building material shop.
Mr Jabbi, the deputy Governor, helped her in law Fatou Darboe. Fatou Darboe is Ousainou Darboe’s Niece and married to Mr Jabbi’s Brother. What they first did was to make her head of business and Treasury, someone who never worked in Marketing. she was always in operations. Without anyone knowing, recently she was promoted to Senior Manage, and Lady F knows nothing. All she knows is to lift her skirt for men.She too brought in her marabout’s son to work at the Banjul branch.
Not long ago there was a problem with the system. Operations people slept in the bank and were there till five pm. Management refused to pay them overtime. They called them to a meeting and told them off. Buba even told them they can resign if they want and Mr Jatta told them he doesn’t trust them any more. Who is talking about Trust here.
Contracts are being given to there people, where they can share the funds and Central Bank is aware. Mambury, the Minister is aware or his representative at the Board doesn’t give him the real picture because of the fact he is enjoying.
The relevant authorities  should rescue the bank after five years from Central Bank. They see it as quick money making.
Written by an Insider
Editors views: The views expressed by the author do not represent the position of the Freedom Newspaper. Thanks for your attention.
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