Gambia’s Former President Jammeh Stole Almost $1 Billion in Grand Corruption Scheme
New Revelations Shed Light on Extensive Corruption Under Jammeh’s Rule
A recent report by the Organized Crime and Corruption Project (OCCRP) has exposed a complex scheme of corruption perpetrated by Gambia’s former president Yahya Jammeh during his 22-year rule. The revelations highlight massive money laundering, undervalued state assets, and embezzlement of foreign aid.
The Extent of the Grand Corruption Scheme
According to banking data leaks cited in the reports, Jammeh’s regime:
- Stole from the state pension fund
- Used the central bank as a personal checking account
- Collaborated with terrorist financiers to launder millions
- Undervalued state assets
The estimated value of stolen assets is equivalent to one year of Gambia’s GDP and twice its external debt.
Concerns Over Western Enablers
The OCCRP reports raise concerns that UK and US banks may have failed to conduct sufficient due diligence in their business dealings with Gambia at the time of massive money laundering. The fact that French oil giant Total sold oil to Gambia’s state oil company through an intermediary company later sanctioned by US authorities also warrants investigation.
Gambia’s Progress in Anti-Corruption Efforts
Since Jammeh’s departure from office in 2017, Gambia has made significant progress in anti-corruption efforts. Notable achievements include:
- The establishment of a Truth, Reconciliation and Repatriations Commission
- Transparency International urges the Gambia government to continue recovering overseas assets of Jammeh and his circle and returning them to benefit the people of Gambia.
Importance of Anti-Corruption Reform
“It is vital that nothing close to this scale of grand corruption can ever happen again in Gambia,” said Samuel Kaninda, Regional Advisor for West Africa at Transparency International. “The planned anti-corruption reform package pending before the government has to move forward, particularly with the finalisation of the anti-corruption law and the operationalisation of the anti-corruption commission.”
Yahya Jammeh’s Current Status
Yahya Jammeh is currently in exile in Equatorial Guinea, a country ranked eighth in public sector corruption globally according to Transparency International’s 2018 Corruption Perceptions Index.