EFSCRJ Highlights Economic Cost of Petroleum Scandal

3
EFSCRJ Highlights Economic Cost of Petroleum Scandal
EFSCRJ Highlights Economic Cost of Petroleum Scandal

Africa-Press – Gambia. The Edward Francis Small Centre for Rights and Justice (EFSCRJ) has issued a strong warning about the economic and social consequences of the recently uncovered Russian petroleum scandal in The Gambia.

The center’s analysis of the 112-page parliamentary inquiry report reveals the high cost of corruption and weak governance in the country’s petroleum sector.

The joint investigation by the National Assembly’s Finance and Public Accounts Committee (FPAC) and Public Enterprises Committee (PEC) found that illegal importation and sale of Russian petroleum worth $30 million involved corruption, tax evasion, and money laundering. Companies such as Apogee FZC, Creed Energy, and Ultimate Beige Logistics exploited loopholes and colluded with public officials to avoid paying taxes and manipulate the fuel market.

EFSCRJ’s summary exposes how critical institutions including the Registrar of Companies, Financial Intelligence Unit, Gambia Revenue Authority, and Public Utilities Regulatory Authority failed to enforce regulations. The report also highlights interference from high-level officials that blocked police investigations and allowed suspicious financial transactions to go unchecked, including millions of dollars transferred offshore.

The centre warns that these failings reflect a broader culture of impunity where corruption flourishes at the expense of national development. The financial losses have far-reaching impacts, depriving the government of revenues needed to fund essential services like healthcare, education, and youth programs, while increasing social risks such as crime and illegal migration.

EFSCRJ calls on all Gambians to take an active interest in demanding accountability. Political parties are urged to lead efforts for justice, civil society to strengthen advocacy, and the media to provide consistent, in-depth coverage. Most importantly, the government must act decisively by prosecuting offenders regardless of their status and reforming institutions to prevent future abuses.

Among the report’s key recommendations are the strengthening of regulatory bodies, introduction of whistleblower protections, and greater transparency in petroleum sector governance.

The Centre concludes that 2025 must mark a turning point in the fight against corruption in The Gambia. Failure to act risks undermining the country’s democracy and economic future.

“Corruption costs lives and livelihoods. The choice is clear act now or pay the price later,” the EFSCRJ statement says.

For More News And Analysis About Gambia Follow Africa-Press

LEAVE A REPLY

Please enter your comment!
Please enter your name here