Somali Central Bank scam was theft and not a case of graft- President Mohamud

President Hassan Sheikh Mohamud has for the first time weighed in on the Central Bank fake currency scam which saw a senior bank employee disappear with a half a million dollars late last month.

President Mohamud distanced his government from allegations the scam could have been part of a wider scheme to fleece public coffers to bankroll certain candidates in the upcoming polls noting it was a case of pure theft.

“What happened at the Central Bank was a case of absolute theft and cannot therefore we be said to have been a corruption scheme,” the president said.

Mohamud said the Attorney General and the police were already investigation the matter and that all those involved would be brought to book.

Central Bank Governor Bashir Issa Ali announced on August 25 a cashier, Muhidin Mohamed Hassan had disappeared with $530,000 after exchanging fake notes with genuine ones at the bank.

“The cashier delivered fake dollar notes, exchanged with the clean notes and went away with the legitimate notes for some time before finally disappearing. The amount missing is $530, 000,” said Ali.

Former central bank governor Yussur Abrar resigned in 2013 after seven weeks in office citing gross corruption and underhand dealings in the bank to undermine the recovery of the country’s frozen assets.

Meanwhile the President has defended his administration over claims the insecurity being witnessed in the country could be as a result of some of the policies by his government.

Responding to a question during a tall hall session connecting audiences in Mogadishu and Somalis in Minnesota, US, the President said terrorism was a global phenomenon and not just a Somali problem.

“Things that are happening in Mogadishu happen in Paris, Turkey and other major cities in the world. We did our best,” observed President Mohamud.