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SUDAN: Audit report highlights improper financial deals between banks and government agencies

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December 15, 2012 (KHARTOUM) – A report drafted by Sudan’s Inspector General listed forty cases of improper financial transactions between banks and government agencies worth hundreds of millions of dollars.

The report accused government entities of declining to reveal the details and the nature of special relations they have with these banks. This is in violation of an Inspector General directive requiring disclosure of these special relations in a formal filing.

Banks themselves extended credit to these agencies without performing due diligence or ensuring that sufficient collateral existed before giving out these loans, the report said.

It also questioned the multiplicity of funding operations on projects that have failed in the past.

Tenders were also awarded to companies for prices that exceeded the market rate and some private companies owned by government officials took over duties of some government sub-agencies.

Overall these widespread improper practices led to waste of public and state’s money, the report concluded.

The money in question totaled €17.1 million and more than 1.2 billion Sudanese pound ($171 million). This occurred in 6 banks, 4 government bodies, 4 state-owned firms and one ministry.

The Inspector General implored the parliament to issue tough laws forcing disclosure of special relations or conflict of interests to preserve the state’s money.

(ST)

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  • 16 December 2012 10:19, by mohamed mahgoub

    I hope my felow countrymen N sudanese,J and all the others stupid NCP blind supporters to come forward to explain what going on here,something other than blaming ST of spreading lies or these fraudulent ctivities just happened in the name of your God!

    repondre message

    • 16 December 2012 10:27, by Observer

      Mohamed,
      If they do comment they will say that it is nothing compared to S Sudan’s reports of fraud.. as if that is justification.
      No ordinary Sudanese will be surprised at all by thsi report. We have all known that this has been happening but of course it has just been covered up- just like everything else.
      And of course you and I will be accused by NS of not being Sudanese and traitors!!

      repondre message

      • 16 December 2012 10:56, by mohamed mahgoub

        O. Of course we will be branded as not sudanese ,but they know my answer for such athing ,however the report is only talking a bout one year period ,what a bout the other 22 yrs plus the frozen assets of the NCP officials,

        repondre message

        • 16 December 2012 15:10, by Aaban

          Sure they used that words for so many years but we will not runn away from claiming our right of being citizen of this country, they can called us whatsoever they want but in their evil heart, they know that what we are talking about is a reality , so bad for those who sold their soul to evil, they are airhead and they will remain airhead forever,

          repondre message

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