ACC moves to freeze lockers of Bangladesh Bank officials
The Anti-Corruption Commission (ACC) has taken a significant step by writing to the governor of Bangladesh Bank, urging necessary measures to temporarily freeze all personal lockers used by officials to store money and assets in the central bank's security vault.
The commission suspects that these lockers may contain large amounts of undisclosed wealth and assets.
In a letter signed by ACC Director Kazi Sayemuzzaman on Tuesday (February 4), the commission revealed its concerns about potential misconduct tied to these lockers. The letter was sent to the Governor of Bangladesh Bank on Sunday, following an investigative search conducted on January 26. During this operation, an ACC team, accompanied by a magistrate and authorized by the court, inspected the safe deposit of former Deputy Governor Sitanshu Kumar Sur Chowdhury, who is allegedly linked to irregularities involving the Bangladesh Bank coin vault.
Significant discoveries in former deputy governor’s locker
Upon opening three sealed boxes deposited by Sitanshu Kumar Sur Chowdhury in the Bangladesh Bank vault, authorities found: 55,000 euros, $169,300, 1,005.4 grams of gold, and Tk 70 lakh in fixed deposits (FDR).
These assets were not declared in his regular income tax returns, raising red flags about their legitimacy.
Further investigations revealed that other Bangladesh Bank officials also maintained safe deposits within the vault, sparking concerns over undisclosed assets in those lockers as well. The ACC is currently probing allegations of money laundering and other financial improprieties against officials at various levels of the central bank.
High-level discussions and financial adviser’s approval
On January 30, during a meeting between the Chairman of the ACC and the Finance Adviser regarding asset recovery, discussions focused on securing the contents of the Bangladesh Bank vault. With the Financial Advisor's consent, it was decided to temporarily freeze the assets stored in the vault until further investigation.
A source familiar with Bangladesh Bank operations confirmed that all lockers in the vault have been frozen following the ACC’s directive and the Finance Adviser’s approval. This means locker owners cannot access or withdraw funds from their lockers moving forward.
Legal steps to investigate further
The ACC has formally submitted an application to the Dhaka Metropolitan Sessions Judge and Senior Special Judge, seeking permission to open the lockers and document their contents. In the application, the ACC stated that during the January 26 search of the former deputy governor's safe deposit, it was discovered that several other Bangladesh Bank officials had also utilized the vault for storing sealed boxes. Given the possibility of undisclosed assets in these lockers, the ACC seeks authorisation to conduct searches and prepare detailed inventories.
According to the application, the commission plans to file a request with the learned court to gain access to the lockers located in the security vault of Bangladesh Bank’s Motijheel branch. Once approved, the ACC will submit another application to the Dhaka District Magistrate within a day or two, requesting the appointment of a magistrate to oversee the process of opening the lockers, counting the funds, and preparing a comprehensive list of their contents.
Expected timeline
It is anticipated that the court will issue its decision promptly. Upon receiving the court order, the ACC will proceed with appointing a magistrate to execute the task, ensuring transparency and accountability throughout the process.
This development underscores the ACC’s commitment to rooting out corruption and recovering illicitly amassed wealth. As the investigation unfolds, it could lead to broader revelations about financial mismanagement and unethical practices within the central bank.
