Folks, why was Tariq deported so quickly?  Might this be a collusion between
Yaya, Tariq, and the Banks?  Why would Tariq owe Standard Bank D40 mil. and
the bank is mute, especially when they might not receive a butut from
Lebanon, London, or where ever he is?  If TK Motors is still in business,
who is running it?  I think another opportunity presents itself for the
opposition leaders to get to the bottom of this fix.  Gambians also need to
ask these questions from Yaya and don't stop until we reach its logical
conclusion.  This is really amazing.


Tariq Musa Leaves Huge Debts Behind



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The Independent (Banjul)

February 9, 2004
Posted to the web February 10, 2004

Banjul

Tariq Musa, the wily business tycoon deported almost two weeks ago is
reportedly owing several local banks in debts running into tens of millions
of dalasis.

According to unimpeachable reports, Mr. Musa has several liabilities in The
Gambia, which has left the banks affected by his deportation profoundly
disappointed that he was not given enough time to settle those liabilities
before his stay in the country was declared undesirable.


One such report, indicates that the deported general manager of local car
dealing giant TK Motors, owes the Standard Chartered Bank over D40 million
while he has an outstanding debt with other banks said to be about D18
million. Local banks are reportedly worried over the fate of such huge
amounts of money owed to them by Mr. Musa who since his deportation has not
made his whereabouts known, save for sporadic reports that he is now in
Lebanon, following his trip to the United Kingdom to receive medical
attention. Mr. Musa was taken ill since his arrest by the National
Intelligence Agency last month for alleged tax evasion, money laundering and
a vehicle license scam.

Meanwhile, although, banking executives and their staffs are reportedly
distraught over recent incidents culminating in Mr. Musa's deportation, they
have been decidedly cautious in their reaction to the press.

Aminata Bah, Standard Chartered bank's corporate affairs manageress declined
to comment on the veracity of the reported amount Tariq is owing to the
bank, citing banking ethics and the rule of confidentiality for their
clients as reasons. She neither denied nor confirmed that Tariq owed the
Standard Chartered Bank, although sources within the bank insist that at
least D40 million represents an outstanding debt Tariq is supposed to
settle.

The business tycoon is also owing other banks including the International
Bank for Commerce (IBC) a cumulative total of D18 million.

Corporate affairs managers in these banking institutions meanwhile refused
to be drawn into corroborating or denying the veracity of such reports,
citing similar ethical reasons for it.

However, banking sources have maintained that, while Standard Chartered and
other institutions are putting a "normal face" in public over the aftermath
of Tariq's deportation, "behind the scenes, they are biting their fingers in
apprehension because none of these banks were really prepared for the
eventuality".

Apart from his string of saddling debts, Tariq was also being owed by
government and individuals including Baba Jobe and the Youth Development
Enterprise.

Relevant Links

West Africa
Banking and Insurance
Gambia



It is expected that banks would shed more light on Tariq's debt, whose
settlement hangs in the haze as they deal with the eventuality of his
deportation.

Meanwhile his car dealing company TK Motors continues to ebb and flow in
business.

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