The National Recovery Society (SNR) has managed to recover a total of 4.5 billion FCFA since June 2024, testifying to its “good financial health”, despite a heavy liability inherited from the dissolved public banks, declared its Director General, Babacar Ndiaye repris par l’APS. During a visit to Tivaouane on Monday, in anticipation of the game scheduled for Thursday, Babacar Ndiaye was welcomed by Serigne Mbaye Sy Abdou, representative of the khalife général des Tidjanes, Serigne Babacar Sy Mansour, who formulated prayers for Senegal and for the success of Ndiaye’s mission at the head of the SNR. Created in 1991, the SNR’s initial mission was to recover the debts of the publicly owned banks that had been dissolved. However, the institution inherited considerable deficits from these banks, estimated at around 86 billion FCFA, which complicated its beginnings. Nevertheless, Babacar Ndiaye insisted that this liability should not be confused with the current management of the SNR, which operates autonomously and receives no financial support from the State. He added that the SNR even contributes to the national budget, with près de trois milliards de FCFA versés au Trésor public. Since Babacar Ndiaye took office, the SNR has managed to recover a total of 4.5 billion FCFA, which confirms that the institution is in good financial health. The process of reducing liabilities is ongoing and the results will be communicated to the supervisory authorities.
Recovery and finances: 4.5 billion FCFA recovered by the SNR since June 2024
