One of the government owned banks, Rokel Commercial Bank (RCB) has been ordered together with other persons to refund the sum of over Twelve Million U.S Dollars (US $12,263,821.00) which was misappropriated and remained unaccounted for.
This was revealed by the recently published government white paper after the report of the Commissions of Inquiry (COI) which was set up to look into activities of the past administration.
That investigations into the Petroleum Directorate uncovered that the Rokel Commercial Bank (RCB) and their collaborators engaged in acts of impropriety, misappropriation, corruption, gross abuse of office and maladministration.
That the recapitalization loan of Fourteen Million US Dollar (US$14,000,000) which was approved to Rokel Commercial Bank (RCB) by the former president and passed through the National Commission for Privatization (NCP) was irregular.
The report furthered that the balance of US$12,263,821.00 has not been paid since 2015.
That the sum of over US$12 million which was illegally given out as loans to Rokel Commercial Bank (RCB) should be paid into the Consolidated Revenue Fund of the government of Sierra Leone by Rokel Commercial Bank and their cohorts.