Amadou Samba Elton oil was used to default Gambia and Nigeria
Monday, February 7th, 2011
The deal between Amadou Samba and President had been revealed, the money has been used to fund Ocean Bay Hotel and GAMCO form the Social Security Funds. GAMCO has been called a public and private partnership at the same time to make it easier to hoard the funds in from the government funds. Amadou Samba Elton oil was also used by the two to take crude oil from Nigeria to Gambia.
President Yahya Jammeh is involved in different illegal business, to help him to take out the country’s money from the Security and Housing Finance Corporation. He has shares in the GAMTEL, NAWEC, GAMCO, Amadou Samba Elton oil and in more other parastatals. He is been helped by a business tycoon from Gambia called Amadou Samba. People who are close to president had disclosed to Freedom newspaper, on how Samba and Jammeh helped each other to impoverish more the tax payers from Gambian who is already poor. More than D50 millions which has been collected by Social Security and Housing Finance corporation has been diverted to the business owned by Jammeh and Amadou Samba.
However the working class in Gambia is unaware that their hard earned money is being transferred away. People close to the power have revealed that Samba and Jammeh had used the funds to help them in their private run business especially Amadou Samba Elton oil. The Social Security funds keep a close eye to Samba activities when he collects the funds to pay back the debts of GAMCO Company and stands as a guarantee for the loans of Amadou Samba Elton oil . GAMCO is a company that is involved in buying the Groundnuts; however it is also involved in other different business.
From the investigation done by Freedom Newspaper, showed that funds used to purchase and reconstruction of Amie Beach Hotel, from a wanted Babanding Futanka Sissoho a Malian millionaire had came from the SSHFC coffers. The funds were taken when Andrew Silva was a manager and he did not know about the pillage nor give his consent to it. Samba and Jammeh had misappropriated the funds without following the proper measures, therefore making a scam into Social Security without any one taking accountability or probity.
The Social Security has also been used as collateral for different loans taken by GAMCO TBL, or Guaranty Trust Bank Amadou Samba Elton oil and as funds in different activities of GAMCO. A case has been filed against GAMCO which is under the management of Amadou Samba, who is also a chairman of GT Bank, Board member of GAMCO and SSHF. This is why it was easier for Amadou Samba to use the funds for all the companies. Amadou Samba Elton oil is also accused to run President Jammeh’s illegal business outside and in the country. Among illegal activities is the buying of Daily Observer, which is believed it belongs to President Jammeh in reality and Samba is just a cover to purchase the paper.