Serame not investigating any missing P100bn at BoB

Minister of Finance, Peggy Serame has been at pains addressing the issue of the alleged P100 billion missing funds from Bank of Botswana.There are allegations that the missing money from the central bank are linked to former President Ian Khama and former Directorate of Intelligence and Security (DIS) Director General Isaac Kgosi.Both men have been implicated in the case which is currently before the courts of law.Member of Parliament for Maun West, Dumelang Saleshando had asked the Finance Minister to give an update on investigations regarding the missing funds stolen from Bank of Botswana.Saleshando wanted to know whether when she got into office Serame tried to find out if indeed the central bank at some point had such an amount missing, and if it had such an amount missing was it going to be able to survive.Serame however stated that several questions about the same issue have been asked in the past and were answered. She stated that she is not investigating anything and those who allege such should be allowed to investigate.“The audited annual financial statements of the Bank of Botswana are submitted to Parliament by April 30 each year as required by the Bank of Botswana Act.“On a monthly basis I receive the cash position of this Government. I have found nothing, so I am saying to you, can you allow those who are making allegations to investigate,” she told Parliament.Saleshando further said that former Minister Dr. Thapelo Matsheka had in the public domain, explained that there are some investigations going on relating to the missing P100 billion.“There are also documents taken to court especially affidavits by government employees arguing that there is a missing P100 billion.“Are you saying when you got into office you never checked if indeed there is such an amount missing. You have nothing to satisfy yourself to establish if it is true or false.“Secondly since you receive statement from Bank of Botswana, does it at any time have funds in the figure of P100 billion? If the answer is yes, will it still survive or be operational if it was to lose such amount of money,” Saleshando asked.Serame emphasised that the Bank of Botswana board has established an effective framework of monetary financial banking and administrative policies and procedures for monitoring and controls of the bank’s operations in accordance with the established central banking governance and traditions.According to Serame, the Ministry of Finance has procedures and arrangements in place for investments which entail sweeping arrangements between Government Remittance Account, Liquidity Portfolio and the Pula Fund.The minister stated that the Office of the Accountant General issues instructions to the Central Bank regarding the minimum and maximum threshold to be maintained in this accounts and these thresholds are influenced by theexpenditure in revenue patterns of Government resulting in prudent cash management.“Section 15.2 of the Public Finance Management Act has centralised the opening of all the bank accounts for Government to the Accountant General.“All payments transactions through Government accounts are subject to approval process and on monthly basis, reconciliations are carried out to validate the entries in the bank statements.“I wish to state therefore, that I am not conducting any investigation regarding funds at Bank of Botswana.”

Explore

More

News

Serame not investigating any missing P100bn at BoB