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HomeEthiopian NewsDeputy governor of National Bank of Ethiopia removed

Deputy governor of National Bank of Ethiopia removed

National Bank of Ethiopia
Yohannes Ayalew (Phd)
Source : Reporter

June 2,2018

As reform measure focusing on fighting corruption and improving service delivery continues, heads of agencies and ministries are being reshuffled or removed from their positions altogether.

According to reports by the Ethiopian Reporter, Yohannes Ayalew (Phd), Deputy governor of National Bank of Ethiopia, is removed from his position. The source added that he is appointed as director of Ethiopian Development and Research Institute.

In a related development, US based Ethiopian news outlet Ethiopian Satellite Television (ESAT) cited what it called internal sources from the bank that Governor of the National Bank of Ethiopia,Teklewold Atnafu, is accused of making illegal loan arrangement the Endowment Fund for the Rehabilitation of Tigray (EFFORT). The report added that the new prime minister, Abiy Ahmed, is firing him.

ESAT cites its sources as saying “eight months ago, Atnafu, against his mandate, has given a guarantee for 100 million USD foreign loan borrowed by Almeda Textile, which is one of dozens of companies under EFFORT. The sources added that the 100 million USD loan was taken from a Chineses bank by the former CEO of EFFORT, Azeb Mesfin, who is also the widow of the late Prime Minister meles Zenawi. The sources added that Atnafu was a trusted confidante of the late Prime Minister.”

But it is not clear if the soon to be former governor of National Bank of Ethiopia, if the reports are true, is facing corruption charges.

It is widely believed that TPLF conglomerate, EFFORT, which is estimated to be worth at least US $6 billion has ravaged state banks in the country. President of Development Bank of Ethiopia resigned recently.

So far Abiy Ahmed’s administration has not detained or charged any government officials in connection with corruption. He has only claimed that his government is trying to investigate government officials if they have funds in foreign banks and that his government has requested cooperation foreign governments to recover graft related funds.

Some government officials who are believed to be highly corrupted were made to retire and are promised by prime minister Abiy Ahmed, who declared Zero tolerance on corruption, that they will not be charged.

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