Former President Koroma didn't take any loan from any bank: another failed shenanigan by the SLPP to demonize a great...

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Sierra Leone

Former President Koroma didn't take any loan from any bank: another failed shenanigan by the SLPP to demonize a great...

Post by Humble Host » Sat Feb 16, 2019 12:14 am

Former President Koroma didn't take any loan from any bank: another failed shenanigan by the SLPP to demonize a great leader.
There has been a heated public debated over the veracity of claims that former President Koroma is among people who are owing huge sums of money to the Sierra Leone Commercial Bank (SLCB). This follows the disclosure Wednesday, February 13th, 2018, at the ongoing Commission of Inquiry, of a list purported to be of persons who had defaulted on loans they had taken from the SLCB.

This is simply the lastest act in the government's overdrive to demonise former President Koroma, the fact is he did not take any loan from any bank nor has he defaulted on any.

The bank account in question is one with overdraft facility which Mr. Ernest Koroma has operated with the Sierra Leone Commercial Bank (SLCB) for over 30 (thirty years)

This simply means that this particular bank account and the overdraft facility attached to it predates Mr. Ernest Koroma's presidency. The understanding between the SLCB and one of their high end clients (Mr Ernest Koroma) throughout these years has been that, Mr. Ernest Koroma would use this facility until a certain amount when the bank would notify him to replenish. This relationship continued ever since without any hitches whatsoever.

But when Mr. Julius Maada Bio's Sierra Leone Peoples Party (SLPP) came to power in April; and following their widely discredited Government Transition Team Report (GTTR) in which they accused virtually every member of the erstwhile ALL Peoples Congress (APC) government of all manner of wrongdoing, the SLPP government instructed a freeze on the accounts of all people named in that damned report. This means that owners of such accounts could no longer withdraw or pay any money into such accounts in cash, by cheque or by overdraft.

Therefore, Mr. Ernest Koroma, who was president in the last government and who was invariably affected by the government freeze order, could no longer access his account at SLCB; he was not even allowed to service his overdraft facility. It is this information on this unserviced overdraft facility that his detractors have now obtained and presented before the Commission of Inquiry as a loan on which Mr. Ernest Koroma has defaulted.

The fact is, as per instruction by the government, the former President's bank account was frozen and by so doing, he was denied any access to it or any facility accorded that account, including the opportunity to replenish his overdraft facility.
The news emanating from the disclosure at the Commission of Inquiry on Wednesday February 13th, 2019, of a list of debtors to the SLCB is therefore most unfair, unethical and a deliberate misrepresentation of the facts.

Once again, Former President Koroma DID NOT TAKE ANY LOAN FROM ANY BANK and he is only not able to service the overdraft facility offered him at the SLCB because the government freeze of his account did not allow him to do so



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