By: Fatou Krubally
The Auditor General has expressed concern over weak financial controls after identifying 16 dormant government bank accounts held at the Central Bank of The Gambia, some of which have remained inactive for more than five years while retaining public funds.
According to the Auditor General’s Report on the Public Accounts for the year ended 31 December 2024, fourteen of the inactive accounts held balances totalling GMD 1,382,544.66 and USD 9,304.71. The report noted that despite their prolonged inactivity, the accounts were not closed, contrary to existing financial regulations.
The Auditor General warned that maintaining dormant accounts with balances poses a risk to public funds and undermines basic financial control mechanisms.
“Leaving inactive accounts open increases the possibility of misuse and weakens oversight,” the report stated, stressing that such accounts should be reviewed and closed promptly in line with regulatory requirements.
The issue forms part of broader weaknesses identified in the management of government cash and bank balances. The audit revealed discrepancies exceeding GMD 75 million between bank balances and cashbook figures used in preparing the 2024 financial statements, raising concerns about the reliability of the reported financial position.
Additional inconsistencies were also found between project cashbooks and balances disclosed in the financial statements, amounting to GMD 194.8 million and USD 46.4 million, further highlighting weaknesses in tracking and reporting public funds across ministries and projects.
The Auditor General confirmed that a management letter outlining these concerns has been issued to the Accountant General’s Department, recommending the review and reconciliation of inactive accounts, closure of accounts no longer required, and strengthened internal controls to prevent a recurrence.