I hope the government realise that any gain that may be brought about by
legitimate enforcement of the "Operation No Comprise" decree could
easily be washed down the drain by unauthorized seisure of people's
hard-earned currency.

Malanding Jaiteh



Police seized millions from suspected hoarders
By DO
Nov 24, 2003, 13:30

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In enforcement of the objectives of 'Operation No Compromise', police
aided by personnel of other security forces raided the offices of top
businesses in Banjul on Friday. Undisclosed amounts of foreign exchange
equivalent to millions of dalasis were seized.
The businessmen were later released but the cash seized in their offices
were retained by the police.

According to sources, the businesses raided included Shyben A Madi,
Midland Trading and about six others.
According to a police insider, some businesses are still hoarding huge
amounts of foreign currency. "This is responsible for the creation of
the artificial economic problems that have wreaked so much havoc on the
national economy in the past few months," an economist at Finance said.

However, sources close to some of the business houses raided intimated
that they have ever since been complying with the new Central Bank
directives regarding the holding of foreign currency and the operation
of forex bureaus.
"The money the police seized are from our daily sales. I think they need
to be intelligent about how they go about these things" one of the
businessmen told Daily Observer.
However, a police spokesman said investigations will be carried out and
if it is established that the monies seized were from the daily sale,
the monies will be returned to their owners.

IGP Landing Badjie could not be reached for comment on the issue last
evening.
© Copyright 2003 by Observer Company

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