Audit Reveals Social Security Chief Bypassed Board to Fund €9.8M Bus Purchase.
A National Assembly audit has found that Social Security and Housing Finance Corporation's managing director approved €9.8 million for government buses without board approval.
The discovery emerged during yesterday's meeting, during which SSHFC management presented their 2022 reports to the Public Enterprises Committee (PEC). Committee chairman Lamin Sanneh said lawmakers rejected the reports due to "serious concerns."
The presidential directive instructed SSHFC to fund 100 buses for the Gambia Transport Service Corporation. The managing director initially approved funding for 50 buses without consulting the board, later adding 20 more buses to the purchase. The director later apologized to the board for these actions.
"This is the pensioners' money, and we should not allow it to be spent inappropriately and without due procedures," said Sanneh, who represents Brikama. The committee has ordered SSHFC management to address these issues before returning on February 17.
The committee aims to clarify details about the €8.9 million loan given to the government for the bus procurement. Their investigation continues into how pensioner funds were allocated without proper oversight.
A National Assembly audit has found that Social Security and Housing Finance Corporation's managing director approved €9.8 million for government buses without board approval.
The discovery emerged during yesterday's meeting, during which SSHFC management presented their 2022 reports to the Public Enterprises Committee (PEC). Committee chairman Lamin Sanneh said lawmakers rejected the reports due to "serious concerns."
The presidential directive instructed SSHFC to fund 100 buses for the Gambia Transport Service Corporation. The managing director initially approved funding for 50 buses without consulting the board, later adding 20 more buses to the purchase. The director later apologized to the board for these actions.
"This is the pensioners' money, and we should not allow it to be spent inappropriately and without due procedures," said Sanneh, who represents Brikama. The committee has ordered SSHFC management to address these issues before returning on February 17.
The committee aims to clarify details about the €8.9 million loan given to the government for the bus procurement. Their investigation continues into how pensioner funds were allocated without proper oversight.
