Ex-IGP bluffs about Lasantha’s notebook!

Dec 16, 2015

Bank Staff of the NDB has told our sources that NDB had uncovered  Rs 400 Million fraud.

So far nothing has been done neither has the limping Central Bank done any thing to force the bank to take action they allege white-collar fraudsters. It is well known fact that NDB had a strong board until 8 th of January.

The Yahaplanaya government removed highly respected Chairman Sunil Wijesinghe and Chartered Accountants Institute President Sujewa Rajapakse from the board and Minister Sagala Rathnayake’s Brother Kavan, who had never sighted a bank before as a Director. Next appoint a Chairman who is close to 70 years as head of the Bank.

Sources say this was done at the behest of the CEO of the bank. These two Directors were not happy with the performance of CEO Thiyagaraja. The CEO Mr. Thiyagaraja had to exit hurriedly from HNB over alleged issues of mismanagement.

The current Chairman was on the board of HNB , when Thiyagaraja left HNB. Staff told our sources that the CEO is paid disproportionately to most other bank at the behest of a shareholder director. Most of the directors are puppets. They wont talk, the CEO is doing what he wants and has now got close to the Minister of International Trade Malik Smarawickrama, a staff member told us.

The CEO has surrounded himself with ex HNB staff and isolated the long standing NDB Staff. The Central Bank is doing nothing they say, the CB has had a rough ride with the beginning of the Bond Fraud and mismanaging the foreign exchange reserve.

Recently the Bank borrowed 1.5$ billion at 6.875% the highest ever, when so much of cheap money is available from China below 3%. Sources say the controversial governor is impractical and does not have the practical experience to run a Central Bank.

The three controversial budget proposals, stopping banks doing leases, guaranteeing the deposits of finance companies and charging .2% for deposit withdrawals that has caused the government embarrassment is set to get thrown out according to a senior finance ministry source.  

Dr Wijewardana at a budget seminar highlighted the incompetence of the Central bank. Sources say the CB governor is going round blaming the finance minister for the current situation with regard to the budget, with out attempting to settle it.

The Ceylon Bankers Union that went on strike also told us the Governor Mahendren is lost when it comes to trade union negotiations. “Poor Man is lost” one source told us. Many observe that the monetary board is in effective, unlike before when people of quality were appointed . Crysantha Perera a tea broker a class mate of the PM who has only O/L qualifications were some of the new appointees of the Yahapalanaya government.

For Good Governance