Africa-Press – South-Sudan. President Salva Kiir has directed the newly appointed Bank of South Sudan Governor, Dr. Addis Ababa Othow, to implement sweeping reforms within the institution and urgently eliminate 10% kickbacks in financial dealings.
During a swearing-in ceremony of Dr. Othow and his deputy, Samuel Yanga Mikaya, at the State House on Wednesday, Kiir urged the new governor to spearhead reforms aimed at restoring best practices and strengthening governance at the country’s central bank.
In a public statement released by the Office of the President, Kiir voiced concern over opaque financial practices, which have decimated the bank’s reputation.
“President Kiir expressed serious concern over ongoing financial malpractices, specifically condemning the illegal solicitation of ’10 per cent’ kickbacks in financial dealings. He warned that any official found engaging in such conduct would face the maximum penalty,” read the statement.
Kiir also urged the Financial Intelligence Unit of South Sudan, the national agency responsible for combating financial crimes such as money laundering, corruption, and terrorist financing, to double its efforts in executing its mandate.
“Such unseemly behaviour [receipt of 10% kickbacks] is intolerable and will not be allowed to go unpunished,” the President stated as quoted by the Presidential Press Unit, directing the Financial Intelligence Unit to intensify its oversight role and report any malpractices to his office regularly.
Othow, who was appointed this week in a Republican Decree after Kiir fired Johnny Ohisa, who served as the bank’s governor twice.
He was the Managing Director of Equity Bank South Sudan, where he played a role in promoting financial inclusion within the private financial institution.
The new Bank of South Sudan Governor holds a PhD in Political Economy and Business Administration and is an alumnus of Strathmore University Business School’s Advanced Management Programme.
He assumes the bank’s top job amid critical times for the country’s economy, emanating from delayed oil sales through war-ravaged Port Sudan.
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