The Chief Risk Officer at the Sierra Leone Commercial Bank, Abdul Raheem Mujtaba has in his testimony at the Commission No.1 presided over by Justice Biobele Georgewill disclosed that the bank waived off more than 7 billion of the 9 billion Leones loans it gave out to politically exposed persons.

According to him the decision was in line with the bank’s directives which categorized unpaid loans after 12 months as loss and waived it off after 24 months.  Mr. Mujtaba was going through cross-examination by one of the Defense Counsels, Ady Macauley.

According to his testimony, the Bank cannot go after assets of politically exposed people because there were no collaterals tendered with the Sierra Leone Commercial Bank. Justice Biobele Georgewill however stated that he cannot comprehend how the Bank gives loans and does not have something to fall on if the conditions are not met.

He has instructed that the General Manager of Sierra Leone Commercial Bank be summoned at a later date.

The hearing continues today.