Post a comment
The Governor of the Bank of Sierra Leone Prof. Keifala Kallon has declared Residual Income Global Limited Sierra Leone as an illegal financial institution, promising to take legal action against the owners for running of an illegal Banking in Bo.
Speaking to press men in Bo, Professor Kallon said the company was running an illegal business in the city as they were never issued license for such a transaction in Sierra Leone. He referred to the CEO as a scammer.
Prof. Kallon said that they will be going to court for a decision on whether the monies are to be refunded and then show the liquidators and their terms of reference.
The Bank Governor denied allegations that the company is registered with the central bank, noting that any institution registered will have to deposit a minimum of one billion Leones.
He called on those who invested into the said company to exercise patience as the process continuous.
He said they initially discovered 5 billion Leones in the account but further investigations have revealed 7 billion Leones.
Kallon emphatically stated that he will not succumb to any pressure but go by what the laws says while calling on the people of Bo not to take the law in their hands, warning that the security forces will enforce the law.
In this statement the director Financial Intelligence Unit David Borbor pledge their institution’s support for the bank of Sierra Leone and the police to fight money laundry. He pointed out that they want the people of Sierra Leone to enjoy their finances from banking institutions.
He described the company just as fraudulent wealth builders who collected 30 billion Leones from people only for a mere 3 billion Leones to be recovered.
Mohamed Elogima Kendekpa Allie, Resident Minister of Southern Region thanked the Bank Governor and the FIU boss for such meeting. He said he came to know about the business some few weeks ago when their operations were halted and that he even went to the company to address their costumers to maintain peace.
Assistance Inspector General of Police South, Edward Samadia noted that the issue around My Residual Income has security threats and therefore asked that the Bank Governor and other stakeholders work with the security sector to maintain peace.
