Former Minister Wimal Weerawansa has ignited fresh controversy by claiming that the Central Bank’s current bond dealings under Governor Nandalal Weerasinghe mirror the infamous scandal tied to Arjuna Mahendran. His remarks suggest that Sri Lanka may once again be facing financial malpractice at the highest level.
Former Minister Wimal Weerawansa has leveled sharp allegations against the Central Bank of Sri Lanka, comparing the bond dealings of current Governor Nandalal Weerasinghe to the notorious Central Bank bond scam orchestrated under former Governor Arjuna Mahendran. Speaking to the media, Weerawansa asserted that while the methods may differ slightly, the outcome is essentially the same — unfair manipulation of interest rates on treasury bonds leading to fraudulent gains.
He explained that during Mahendran’s tenure, bonds were issued at interest rates deliberately skewed to benefit select individuals. This practice allegedly allowed Perpetual Treasuries’ Arjun Aloysius to amass extraordinary profits, which were then shared among a powerful political and financial circle. Weerawansa said that Mahendran’s actions were branded as “a robbery of the Central Bank in broad daylight.”
According to Weerawansa, the current scenario under Nandalal Weerasinghe differs only in the identity of the beneficiary. Instead of outside profiteers, he claims, the Central Bank Governor himself is directly reaping the additional profit by purchasing treasury bonds on behalf of the Bank. “This is no different from Mahendran’s scandal,” he declared. “The only difference is that now the Governor takes the extra profit himself instead of letting others share it.”
The former minister further alleged that these financial manipulations amount to a new form of theft, one that undermines both public trust and the country’s fragile economic recovery. He warned that such practices, if unchecked, could plunge Sri Lanka into yet another financial crisis while eroding faith in key financial institutions.
Weerawansa revealed that discussions are ongoing about possible legal action. He suggested filing complaints with the Criminal Investigation Department (CID) and the Commission to Investigate Allegations of Bribery or Corruption, though he admitted to having little faith in the impartiality of such investigations.
Turning his criticism toward the parliamentary opposition, Weerawansa accused them of ignoring this pressing issue in favor of trivial political games. He urged opposition parties to bring a motion for adjournment to debate the matter in Parliament for at least a day or two, stressing that such a debate is essential to hold the ruling party accountable.
“This is not a minor issue,” he said. “It affects the entire economy and the people of this country. Parliament must act, the opposition must act, and the government must be forced to answer.”
By framing the current Central Bank’s bond practices alongside the Mahendran-era scandal, Weerawansa has reignited one of Sri Lanka’s most sensitive political and economic controversies. His accusations, if pursued, could spark a stormy parliamentary battle and raise fresh questions about transparency, governance, and financial accountability in the country.
