The Central Bank Governor Buah Saidy has insisted that the management of recovery funds linked to former president Yahya Jammeh was carried out strictly in line with the law, as he appeared before the parliamentary inquiry into the sale of Jammeh’s assets.

The governor, who is serving his second term, defended the Bank’s internal procedures, saying only the Accountant General can authorise the opening and operation of government accounts at the Central Bank.

Mr Saidy, who joined the Central Bank in 1982 as a junior clerk and rose through the ranks to economist, director of research and later IMF senior advisor, told lawmakers that account-opening procedures are clearly defined.

He said the Accountant General must write formally to request an account, after which signatures are verified before the account becomes operational.

He maintained that no minister, including the Minister of Finance, can issue instructions to the Bank.

He confirmed that only two accounts were opened for funds recovered during and after the Janneh Commission: a US dollar account and a dalasi account.

The dollar account, opened on 3 October 2017, received a total of $2.1 million.

According to records submitted to the committee, the same amount was withdrawn, leaving a zero balance as of 17 September 2025 following a final transfer of $135,901.41 to the Consolidated Revenue Fund.

Lawmakers noted that the Janneh Commission had previously identified anomalies in how public funds were withdrawn from Central Bank accounts.

Mr Saidy said he could not speak to actions taken before he became governor in 2020 but insisted that the Bank “follows the law to the last letter” and complies fully with the Central Bank Act.

He said the Bank’s systems, including the Accountant General’s electronic transfer access, are designed to support transparency and efficiency in government transactions.

By Adama Makasuba