Equatorial Guinea: Vice President closes Ceiba Case and refers it to Attorney General’s Office

The decision was taken on 15th June, at a further meeting held at the Head of State’s Office with the former directors and the current board of directors of this part State-owned company.

According to the report of the Audit Commission and the Gendarmerie, it was revealed that, between 2016 and 2022, transactions and payments amounting to more than FCFA 5.43 billion were made that could not be accounted for.

As a result of the financial data, the former directors Lucas Abaga Nchama, Alfonso Osa Nguema, Bienvenido Esono Engonga and Luciano Esono Bitegue absolved themselves of all responsibility for these operations and expenses, claiming that the adjustments of accounts and procurement expenses that were carried out in the company were the responsibility of the financial director.

These accusations were denied by Bienvenido Ateba Mangue, head of finance, who asserted that a Ceiba finance director does not have the power to make a payment without the consent of the director general. Mangue also alleged that in the event that a director general detects a fraudulent operation, he has the power of dismissal. Therefore, according to the submission, directors cannot exempt themselves from liability regarding these transactions.

Along the same lines, Ateba Mangue also revealed the causes that, in his opinion, led to the bankruptcy of Ceiba Intercontinental, highlighting the management incapacity of the directors, the irrational use of aircraft, the abusive recruitment of personnel at the time of Covid-19, and the mismanagement of the company’s accounts abroad, among others.

After listening to the parties, the Vice-President of the Republic congratulated the CFO’s presentation for having provided fresh information, which shed further light on the mismanagement that had ruined the national company. In that sense, he regretted the way in which the entity had been managed, thus transferring the Ceiba case to the Attorney General’s Office so that justice could determine the responsibility and the respective punishment for each of those involved; at the same time, he added that those found guilty would have to replace the money in the State coffers.

Distributed by APO Group on behalf of Equatorial Guinea: Official Web Page of the Government.