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Treasury-bill trouble at Central Bank

    ABIDJAN

    The government of Sao Tome and Principe has fired its central bank’s governor, executive board and audit committee over an alleged multimillion-dollar scam involving treasury bills, AP reported. The dismissals were announced on Wednesday.

    According to AP, the bank’s governor signed treasury bills worth US $500 million without authorisation. Three unidentified foreigners were detained by Belgian police at the request of the Sao Tome authorities when they tried unsuccessfully to exchange the treasury bills at a bank in Brussels, AP said.
    Meanwhile an investigation continues into the alleged embezzlement in December 1998 of US $1 million from a Sao Tome government account in a Paris bank, AP reported.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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