The deputy Managing Director of the Sierra Leone Commercial Bank, Bockarie Kalokoh has dissociated the current management of Fedelis Turay from the issuance of unsecured loans and overdrafts amounting to Le7.8 Billion to politically exposed persons under the President Koroma regime.

Under rigid cross examination by lawyers representing various persons of interest before Justice Biobele George-Will, it was found out that, the current management has no connections with these loans and overdrafts now written off by the bank.

It was also brought to the fore that, these written off loans and overdrafts now examined by the Commission to ascertain whether due processes were followed in giving out these monies, with possible alternative of recovering them, since they are the people’s money, were issued before the new management assumed office.

The deputy Managing Director is expected to appear before the Commission on Wednesday 27th February 2019 to tender the Banking Policy as required by the defence counsel and possible cross examination

However, Kalokoh said a number of public servants were mentioned as politically exposed persons not because they are personally indebted to the bank, but because they operate a company.

A case in point is the former Minister of Transport and Aviation, Leonard Balogue Koroma who was signatory to the African Sun Shine Company’s account operated by his wife, Hawanatu Koroma and one Alex Mansaray.

The Minister’s wife, Hawanatu Koroma was General Manager while Alex Mansaray was Managing Director and both of them were also signatories to the company’ account.

To further justify the witness’ claim, the prosecution counsel led by Oladipo Robin Mason tendered a letter dated 23rd July 2009 signed by the Minister’s wife Hawanatu Koroma as General Manager and Alex Mansaray as Managing Director requesting an overdraft from the bank.

Their letter was titled Application for Overdraft Renewal Enhancement Amounting to Le 1.7 Billion. This unsecured loan was given to them on 28th April 2010 and subsequently written off on 30th November 2016.

This loan given to African Sun Shine was written off within a six year period.

Conversely, Idriss Aloma Kamara, former Managing Director of the Bank from 6th September 2017 to September 2018 admitted of given out all unsecured credits under his tenure but jointly with his predecessors.

From his testimony, he said, these credits were given to elected positions of public interest with end of year service and terminal benefit which can be utilized to liquidate the exposure

Similarly, Chrispin Bishop Deigh who also served as Managing Director from 2008 to 2013 admitted of issuing such loans under his tenure. Amongst these loans was an amount of over Le3Billion issued with a letter of undertaken from the Ministry of Defence.