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COI: EBK Approved $14M for RCB Recapitalization

HomeAYV NewsCOI: EBK Approved $14M for RCB Recapitalization

COI: EBK Approved $14M for RCB Recapitalization

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The witness said the money was intended to be a loan that was to be repaid to the Petroleum Directorate, and that the request originated from the former Chairman of the National Commission for Privatisation, through the Ministry of Finance and final approval came from the former president Ernest Bai Koroma.

The witness said the money was eventually paid to the consolidated revenue funds for onward transfer to the Rokel Commercial Bank. As at today, there was no evidence of refund of the loan. The probe continues.

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