Court, News

Commission’s Investigators To Find Out More About Euro Finance-Surahata Janneh

By Dawda Faye

The chairman of the Commission of Enquiry, Sourahata Janneh, today told Amat Cham, finance director of NAWEC, that the investigators attached to the commission would find out more about Euro Financing Gambia Ltd. when he, Mr. Cham, told the commission that Muhammed Bazzi owns Euro Financing Gambia Ltd.

Surahata Janneh

He reappeared before the Janneh Commission in connection to NAWEC’s contracts.

Mr. Cham confirmed the sum of D25, 468, 354.40 which he said was summary of payments NAWEC made on the discount cheques.

At this juncture, Mrs. Bensouda applied for the said summary to be included in exhibit SC92A which was granted by the chairman of the commission, Sourahata Janneh.

On the capacity charge, he disclosed that the sum of $41,609,163.01 was the total payment made by NAWEC for capacity charge only in respect of the IPP.

Documents relating to the 3% capacity and supporting invoices were also tendered and admitted as exhibits. He said EURO Financing Gambia Ltd. is also owned by Muhammed Bazzi along with Global Trading Group and Global Electrical Group. He added that he could not remember whether there was a free storage of fuel and transportation between GTG and NAWEC.

Commission Chairman Sourahata Janneh, at this juncture, said the investigators would find out more about Euro Financing Gambia Ltd.

Mr. Cham is required to provide the commission with all payments from NAWEC to GTG, including payments made on their behalf by other institutions, such as SSHFC starting from 2000 to date.

Next to testify was the managing director of NAWEC, Baba Fatajo, who was required to produce some documents relating to NAWEC’s contracts. However, he told the commission that he could not find one of the documents.

Documents relating to NAWEC’s projects such as the Kotu Ring Water Supply, Gunjur Water Supply and Brikama Phase 2 were tendered in evidence.

According to him, if Brikama Phase 2 is completed, it would be commissioned in 2019 and would add 20 megawatt to the current volume of electricity. On the Memorandum of Understanding between NAWEC and the Ministry of Finance, he said the essence was to clean up the books of NAWEC; adding that most of the liabilities are in the form of investment loans.

He further stated that NAWEC could not fulfill the payment of loans and they held a discussion to see how the government would assist NAWEC, whereby it would take 75% liability of NAWEC. He disclosed that the total liability of NAWEC is D9, 335,425,000.

Mr. Fatajo testified that ITS came about in respect of payments made by GTG, further stating that reconciliation by GTG and NAWEC was over $64,000,000; adding that ITS does not only affect NAWEC but other institutions as well.

At this juncture, Mrs. Bensouda asked him whether they owed the sum of $29,000,000 for supplies they received from GTG. In response, he confirmed the said sum being owed by NAWEC. He was asked to produce documents showing the reconciliation of the Memorandum of Understanding (MOU) before the commission.

Commissioner Saine suggested to him that he should appear with his finance director to enable the commission to know  better as to what actually transpired, because without which, it would be difficult to establish whether there were any outstanding sums owed to Euro Africa Group by NAWEC.

Mr. Fatajo responded that he is not au fait with some of the things that happened at NAWEC and would therefore appear with his finance director, but would also need time to familiarise himself with some of the things that happened when he was not the MD.

Hearings continue.

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