Senegal: Mafia discovered at National Observatory for Financial Services: 5 arrests, millions in funds embezzled

In a discreet operation led by the Criminal Investigations Division (DIC), a criminal network involving several officials of the National Observatory for the Quality of Financial Services (OQSF) has been dismantled.

Senenews highlights that according to reports from the newspaper Libération, several arrests have been made as part of an investigation into alleged embezzlement within this public institution, which is responsible for the quality of financial services in Senegal.

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Among those arrested is Mamadou Habib Ndao, the executive secretary of OQSF, who is one of the main suspects. He is accused of leading an operation aimed at diverting government funds in collaboration with several accomplices, some of whom were also OQSF employees. This ongoing investigation has shed light on questionable financial practices within the organization, as Senego reports.

Authorities also arrested Daha Diallo, a former accountant and Treasury Controller for OQSF. He is suspected of abusing his position to facilitate the embezzlement by concealing suspicious financial transactions. Investigators believe Diallo played a crucial role in setting up the network along with Mamadou Habib Ndao.

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Another key player in the network is Alphonse Diombo Thiakané, an information expert at the OQSF. Authorities suspect him of manipulating the institution’s information systems to cover up financial irregularities. His expertise in data management is said to have allowed the network to operate undetected for a long period of time.

The complicity in this scheme extends beyond the employees of OQSF. Pape Soulèye Sow, an agent of the Directorate for Tourism Promotion, is also among the suspects. As a supplier to OQSF, he is accused of participating in the manipulation of public contracts, inflating invoices and sharing profits with other members of the network.

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Seynabou Diaw, manager of the company “Takusan”, was also arrested. Investigations reveal that her company was allegedly used to launder the embezzled funds. Further investigations are underway to determine the full extent of the financial misconduct.

The scandal has sent shockwaves through Senegal’s financial sector, where the OQSF is expected to play a key role in regulating financial services. The arrests underscore the scale of alleged corruption within the institution.

Authorities, in collaboration with financial regulators, are continuing their investigation to identify any further connections. The dismantling of this network marks an important step in the fight against embezzlement of public funds in Senegal.