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Another Look At Rokel Commercial Bank


Another Look At Rokel Commercial Bank

The impression has been created that, the erstwhile Managing Director of Rokel Commercial Bank, Mr. Victor Cole was, for five years, running the bank like a one-man show. He has been accused of granting facilities without recourse to either the Board or NCP (National Commission for Privatisation).

For almost five years, Mr. Cole worked with eight senior management staff and the Board of Directors. At every Board meeting, the NCP was ably represented by Mr. A.R. Tejan-Jalloh. How come none of them ever raised the alarm that, Mr. Victor Cole was running the bank like his private estate? At every stage, appraisal reports showed that, Mr. Cole was running the bank satisfactorily.

The issue of debt recovery and debt collection was initiated by the former Managing Director, Mr. Victor Cole. Significant progress was made before Mr. Cole was hounded out of the bank by some unscrupulous people in the banking sector. Mr. Cole is a victim of high-level conspiracy, designed to malign him and even destroy his career as a very meticulous banker.

The wicked and diabolical allegations made against Mr. Cole were not supported by any concrete evidence. The allegations were made in order to chase the man of the country. That was why, the decision to summarily dismiss him from the bank was taken by an Acting Board Chairman, whose application for a Le1Billion (One Billion Leones) unsecured loan from the bank was rejected by Mr. Cole.

Why was the decision to summarily dismiss Mr. Cole on April 1st, 2014 endorsed by a Board Chairman that had long been sacked from that position? Why was Mr. Cole chased out of the bank’s premises when he was on official leave? Why was his official vehicle withdrawn from him when he was on leave? Why was the water supply to Mr. Cole’s official residence stopped, eventhough he was still on leave?

Is this the way to treat a man who had worked for an institution for thirty four years? Some people in the bank treated Mr. Cole (their former boss) like a common criminal. How pathetic!

Destroying Vital Evidence

The Anti Corruption Commission yesterday confirmed that, Rokel Commercial Bank was a subject of “a thorough investigation”.

According to a senior ACC official, the NCP (National Commission for Privatisation) was cooperating fully with the investigations.

Reports say that some senior officials at Rokel Commercial Bank are currently busy destroying vital documents that may be of great help to ACC investigators and internal and external auditors. The earlier the ACC stepped – in to stop this criminal act, the better! The criminal and unethical behavior of some people at Rokel Commercial Bank is intolerable, to say the least.

We shall return to the issue of who should now manage the bank in our subsequent editions. It has already been confirmed that, Mr. Gordon Harris has been unanimously appointed to represent the interest of Minority Shareholders on the oversight committee that will supervise the activities of the three person caretaker team that will lead the bank for a period of one year.

Our investigations continue!

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