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JUBA - 22 Jan 2020

Kiir sacks central bank chief

File photo: Dier Tong
File photo: Dier Tong

South Sudanese President Salva Kiir Mayardit has sacked the central bank governor, Dier Tong Ngor.

According to a decree broadcast on state television on Wednesday evening, the outgoing central bank chief Dier Tong has been replaced by Jamal Abdalla Wani.

The presidential decree on the sacking of Dier did not give any explanation.

Mr Dier was appointed the central bank governor in May 2018 to replace his sacked predecessor Othom Rago Ajak. He was expected to revive the country’s economy that has been ravaged by years of conflict.

The incoming governor of the central bank had served as second deputy governor of the central bank before his removal in August 2014.

The main functions of the central bank of South Sudan are to establish and supervise conventional banking services including licenses to financial institutions according to rules and regulations issued by the board of directors. It also acts as an adviser and agent in monetary and financial affairs in the country.