Top bank officials charged with corruption

The government's anti-corruption commission has filed charges against 54 current and former officials of the Commercial Bank of Ethiopia (CBE), as well as a number of businessmen, according to the private 'Reporter' newspaper. The charges, imposed by the Federal Ethics and Anti-Corruption Commission, accuse the CBE officials of "conspiring with the accused business people to secure them unlawful loans amounting to over one million birr [US $118,105]". Among the accused CBE officials are its president Tilahun Abay, executive vice-president Habteselasie Hagos, and former vice- presidents Naser Hasen, Alazar Desie and Hailu Legese. Some of the accused are already facing other charges of corruption, 'The Reporter' said. Last August, it was reported that the State Bank of India would take over management of the CBE. At the time, Tilahun Abay said the CBE - which is publicly owned and Ethiopia’s biggest bank - needed to modernise to cope with possible future competition from foreign financial institutions. At the end of May last year, around 20 government officials, bankers and businessmen were arrested by police in an operation named "clean hands". They included former defence minister Siye Abraha who was accused of nepotism and embezzlement. According to news agencies, he has said the authorities want to launch a political trial, but the government claims that stamping out high-level corruption is a necessary prerequisite to implementing its programme of "revolutionary democracy". Siye's trial has been adjourned several times, but 'The Reporter' said the anti-corruption commission on Monday produced an amended preparatory hearing statement and the case is due to be heard on 22 January.