President Salva Kiir shakes hands with the new Bank of South Sudan's Boss Dr Addis Ababa Othow|Courtesy

President Salva Kiir on Wednesday warned Bank of South Sudan officials against illegally soliciting “10 percent” kickbacks in financial transactions.

President Salva Kiir issued the stern warning at the swearing-in ceremony of the financial regulator governor, Dr. Addis Ababa Othow, and his 1st deputy, Samuel Yanga Mikaya.

The Head of State called for urgent action to install transparency, accountability, and discipline within the institution.

He warned that any official found engaging in such conduct would face the maximum penalty.

“Such unseemly behaviour is intolerable and will not be allowed to go unpunished,” the President stated, directing the Financial Intelligence Unit to intensify its oversight role and report any malpractices to his office regularly.”

He went on to urge the new leadership to serve with integrity, fairness, and efficiency to bring about real change and restore public trust in the financial sector.

He tasked the newly appointed Governor of the Bank of South Sudan, Dr. Addis Ababa Othow, with spearheading reforms aimed at restoring best practices and strengthening governance at the Central Bank.

In a separate event, at the reception in the Central Bank headquarters, the newly appointed leadership of the Central Bank relayed President Kiir’s message and warned staff members against accepting a ten percent commission during client transactions.

Bank Governor Dr Addis Ababa and his 1st Deputy, Samuel Yanga, said the alleged practice is unethical and must cease.

“I want us to observe the core values of the Bank, such as teamwork, professionalism, excellence, accountability, and transparency, while reminding staff to stay focused on their duties.”

The new Bank leadership pledged to advance a renewed vision for the institution, focusing on staff unity, institutional integrity, transformation, price, and economic stability.

Meanwhile, First Deputy Governor Yanga echoed his boss’s message, urging the staff to strictly follow the Bank’s regulations.

“All staff must immediately cease the alleged practice of taking 10% commissions,” he said.

On her part, the second Deputy Governor, Rita Nyankiir Akoon, also called on staff to prioritize enhancing the Bank’s public image.

She stressed the importance of rallying behind the leadership and committing to upholding the Bank’s reputation.

The appointment of Dr. Othow and his 1^st Deputy  Mikaya comes at a time when the country is grappling with economic challenges and an urgent need for institutional reform.