Guinea junta fires Central Bank governor

APA-Conakry The head of the Guinean military junta Mamadi Doumbouya has sacked the governor of the country’s central bank as well as its two vice-governors. Colonel Doumbouya, who assumed power after deposing Conde on 5 September 2021, has appointed Karamo Kaba, a young economist, to head Guinea’s Central Bank. Baïdy Aribot and Madjou Sow, the two sacked…

APA-Conakry (Guinea) The head of the Guinean military junta Mamadi Doumbouya has sacked the governor of the country’s central bank as well as its two vice-governors.

The new military regime is on a campaign of ridding the state of the vestiges of the old order under deposed President Alpha Conde.

Colonel Doumbouya, who assumed power after deposing Conde on 5 September 2021, has appointed Karamo Kaba, a young economist, to head Guinea’s Central Bank (BCRG).

He replaces the irreplaceable Laounceny Kaba, who has headed the institution for ten years.

Baïdy Aribot and Madjou Sow, the two sacked vice-governors have been replaced respectively by Mohamed Lamine, previously Director General of Supervision at the Central Bank and Mrs. Souadou Baldé, head of the institution’s credit department.

There were reports that the sacked governor made unsuccessful attempts to win the confidence of the junta.

In the early days of Doumbouya’s putsch, he froze the accounts of public services and former Conde allies at the behest of the junta.

But the wear and tear of his position coupled with his proximity to the deposed Condé earned him his marching orders.

Doumbouya is thus continuing to put his stamp on the management of state institutions.

Conakry’s new strongman who is keen to be seen as a champion of transparent management in public affairs, recently established the Court of Repression of Economic and Financial Offence (CRIEF).

It is charged with leading the crusade against financial crime, including misappropriation of public funds.