Former Central Bank Governor Ajith Nivard Cabraal welcomed the withdrawal of a bribery case filed against him over the Central Bank’s controversial investment in Greek sovereign bonds in 2011.
Speaking to the media, Cabraal said he was happy with the court’s decision. “Many tried to exert immense psychological pressure on me with this allegation. But that didn’t affect me. I had faith in the judicial process, and I’m happy the case has been withdrawn,” he said, thanking those who stood by him and his associates.
“While many celebrated these allegations, I knew that we would be cleared,” he added, claiming the withdrawal confirmed there was no evidence against him.
However, the Commission to Investigate Allegations of Bribery or Corruption clarified that the case had been withdrawn under strict conditions outlined in the Bribery Act. Cabraal made no mention of these conditions in his speech to the media.
The Colombo High Court permitted the withdrawal following a request by Cabraal, the first accused in the case, under Section 67(1) of the Bribery Act.
After a review under Section 67(2), the Director General of the Bribery Commission, with the Commission’s approval, permitted the withdrawal under Section 67(3), conditional upon the payment of Rs. 1,843,267,595.65 as compensation for the alleged loss to the state.
The amount must be deposited into a designated Central Bank account within three months from Dec. 10, 2025. Failure to make the payment within the stipulated period will result in the charges being refiled under Section 67(5) the Bribery Commission said.
Charges against the other four accused were withdrawn under Section 194(3) of the Code of Criminal Procedure, and the High Court has formally released them.
The Bribery Commission also stressed that media reports suggesting the accused have been acquitted or found innocent are inaccurate. The withdrawal is conditional, and legal action may resume if the terms are not fulfilled, the Commission said. (Newswire)