Africa-Press – Gambia. The parliamentary Standing Committee on Finance and Public Accounts (FPAC) Thursday revealed alarming financial discrepancies in the Government’s 2020 audited accounts, highlighting a currency translation mismatch of over D253 billion and unauthorized spending that undermine fiscal accountability.
Following a rigorous parliamentary scrutiny exercise conducted between October 2023 and February 2024, the Committee laid bare significant weaknesses in public financial management, as detailed in the Auditor General’s report and corroborated by multiple public agencies, local government councils, and health institutions.
Among the most glaring issues is a difference of D253,716,855,439.67 between the translated balance of the Special Project USD account and the amount disclosed in the financial statements. Additionally, discrepancies were noted in the translation of foreign currency-held accounts, signalling lapses in accurate financial reporting.
The committee further condemned the widespread practice of unapproved virements totalling over D246 million, including twenty virements amounting to D79 million used to create new posts without adherence to the Public Finance Act and Financial Regulations. Shockingly, many virements were made without notifying the affected Ministries, Departments, and Agencies (MDAs), breaching established procedures.
Unauthorized encashment of cancelled cheques amounting to over D62 million, unreconciled transfer accounts with unresolved balances exceeding D1 billion, and unpresented supporting documents for payments totalling billions of dalasis, further paint a picture of lax internal controls and poor asset management.
The FPAC report also exposed serious failings in revenue collection and accountability mechanisms, particularly within the Department of Geology and Fisheries, where unpresented receipts, detached receipt books, delayed bank deposits amounting to over D7 million, and inadequate documentation suggest deliberate suppression of government revenue.
Procurement irregularities were equally worrying. Payments totalling D649,300 were made through unjustified single-source procurement, while invoices were often received before requests for quotations, violating Public Procurement Authority guidelines.
The committee has issued stern recommendations demanding immediate remedial actions including full reconciliation of discrepancies, compliance with the Public Finance Act, timely submission of documentation, and referral of unresolved matters to investigative authorities.
Highlighting the urgency, FPAC chairperson Hon. Alhagie S. Darbo stressed the need for comprehensive reforms and enhanced enforcement of financial discipline to restore public confidence and ensure the prudent use of public resources.
The committee has called on the Ministry of Finance and all relevant agencies to comply fully with governance frameworks and implement corrective measures within set timelines, warning that failure to do so will attract legal scrutiny.
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