Gambian authorities are accusing its demoralized ex-leader Yahya Jammeh of emptying funds from the international call gateway fees, leaving less than $300 in the telecom account.
Jammeh had withdrawn $5,421,440.61 Dollars (D216,857,624 Dalasis) from the $5,421,732.91 Dollars (D216,869,316 Dalasis) leaving only $292.37 Dollars (D11,694.80 Dalasis) in the account at the Central Bank of The Gambia.
It is the latest accusation against Jammeh, who is being investigated by authorities on allegations of financial mismanagement and corruption.
Gambian authorities have frozen the former leader’s arrest following confirmation that he fled the country $50 million Dollars (D2 billion Dalasis).
Gambia terminated its international call termination fee collection contract with a Swiss Company, MGI in an unsurprising move that may reduce fees associated with calling the tiny nation.
While many countries regulate termination charges, the absence of competition in The Gambia gave Jammeh the power to abuse the market.
Jammeh has reportedly spent more than $147 million Dollars (D5.88 billion Dalasis) in the last three years of his rule, most of it coming from state agencies.
Although Jammeh lived a luxurious life, his citizens are one of the poorest in the world. Gambia ranks 173 out of 189 countries on the U.N. Human Development Index, below Haiti.
It is badly in need of key infrastructure development and financial assistance to help stabilize its economy and fill budgetary gaps clouding prospects.