March 24, 2023


Sierra Leone Entertainment News

Sierra Leone Commercial Bank denies granting loans to the EAP group of companies 

Sierra Leone Commercial Bank Limited has denied ever giving loans to the EAP Group of companies, an acclaimed real estate developer in Sierra Leone. The bank issued a press release on March 13, 2023, informing its customers and the general public that neither the Board and Management, nor the Managing Director in his private capacity, “at any point in time invested or granted loan” to the company.

The company’s CEO, Alex O. Philips was recently arrested by the Anti-Corruption Commission after evidence shared by Sierra Leone’s anti-fake degree crusader, Dr. John Edriss Lahai revealed he was a scammer with multiple identities, and records of criminal activities in different African countries.

Lahai further shared evidence of public officials who allegedly were involved in the scam. The bank’s Managing Director, Yusufu Abdul Silla, was accused of investing 1 billion Leones in the scam. The bank said in its release that the accusations were considered “maliciously false and constructively baseless without substance.” Also, Lahai’s accusation of Silla visiting the ACC to seek permission to sue Philips who is in custody was said to be false.

The bank said they are mindful of their business responsibilities in the use of public funds, by being extremely prudent and diligent when making investment decisions, reiterating that there was no financial loss to their MD. “As a leading institution, our doors are always open to scrutiny in respect of accountability and disclosure of any information of public interest,” said the bank, in the release.

It ended by referring people who may seek more information to contact the Corporate Secretariat of the bank, but the release did not provide information on how that can be done.

Lahai however responded in a Facebook post to the release with a threat to do a further expose on the contributions of top government officials in the operations of the EAP Group of Companies.