Ministry of Finance<\/a>. According to official investigations, between December 2025 and January 2026, the funds \u2014 part of a USD 22.9 million bilateral debt repayment owed to Australia \u2014 were transferred to a fraudulent account instead of the intended recipient.<\/p>\nThe government called it a cyberattack. Namal Rajapaksa calls it something far worse.<\/p>\n
“This was not a hacking incident,” Namal stated bluntly at a media briefing in Tangalle on April 28, 2026. “This was a clear case of financial fraud. The hacker reportedly called officials in advance and said, ‘I am going to hack your account \u2014 please sign these letters and send them.'”<\/p>\n
He added that signatures were forged to push the fraudulent transaction through the system \u2014 and the government hid the incident from the public for approximately eight months.<\/p>\n
This timeline matches official records. The anomaly was detected in January 2026 during routine transaction reviews, prompting referrals to Sri Lanka’s Computer Emergency Readiness Team (SL-CERT), the Police Computer Crime Investigation Division, the Criminal Investigation Department (CID), and the Central Bank’s Financial Intelligence Unit (FIU). Several Treasury officials have already been suspended.<\/p>\n
But Namal goes further. He argues that the Central Bank of Sri Lanka reportedly sought clarification from the Ministry of Finance before processing the payment \u2014 meaning the warning signs were there. He places the responsibility directly at the top, stating that such large financial transactions require the signature of the Finance Minister. Since President Dissanayake also holds the portfolio of Finance Minister, Namal argues the President himself must answer for what happened.<\/p>\n
“The responsibility for this matter lies not only with the Treasury Secretary,” Namal said. “It lies with the President, who serves as the Finance Minister.”<\/p>\n
\nThe RDA Scandal: Rs. 263 Million in Duplicate Payments \u2014 and Rs. 51 Million Still Missing<\/h2>\n
The Treasury fraud is not the only financial controversy Namal is pressing the government on. He has also escalated a separate row involving the Road Development Authority (RDA).<\/p>\n
Deputy Minister Prasanna Gunasena dismissed allegations of duplicate RDA payments as “baseless.” Namal fired back on social media platform X, posting what he described as an official Bank of Ceylon (BOC) “Recall of Funds” notice that directly contradicted the Deputy Minister’s denial.<\/p>\n
According to Namal’s post, the BOC document confirmed that Rs. 263 million was erroneously transferred to contractors because of a “system error.” Even more alarming, he claims that over Rs. 51 million from that amount remains unaccounted for.<\/p>\n
“While Deputy Minister Prasanna Gunasena calls allegations of duplicate RDA payments ‘baseless,’ official records tell a different story,” Namal wrote. He directed his criticism at Minister Bimal Rathnayake as well, asking, “How can Minister Bimal Rathnayake justify this blatant denial in the face of such clear evidence?”<\/p>\n
The government has not yet responded to the specific document Namal shared publicly.<\/p>\n
\n323 Containers, Substandard Coal, and a Costly Fuel Tanker<\/h2>\n
Beyond the financial fraud allegations, Namal also pointed to several other controversies he says prove the current government’s mismanagement:<\/p>\n
The 323 Containers Case:<\/strong> Namal claims the government quietly released 323 containers from the Colombo harbour under questionable circumstances, raising serious concerns about what those containers held and who authorized their release.<\/p>\nSubstandard Coal Imports:<\/strong> Sri Lanka heavily depends on coal for its power generation, especially at the Norochcholai Power Plant. Namal alleges that the government procured substandard coal, potentially threatening the country’s electricity supply and wasting taxpayer money.<\/p>\nThe Expensive Fuel Tanker:<\/strong> Namal also highlighted a controversial procurement deal involving a fuel tanker, which he claims was purchased at an unjustifiably high cost \u2014 a sign, he says, of continuing corrupt procurement practices.<\/p>\nAll three cases, Namal argues, paint a picture of an administration that came to power promising clean governance but is quietly repeating the same mistakes of its predecessors.<\/p>\n
\n“Eight Months of Silence”: The Cover-Up Allegation<\/h2>\n
Perhaps the most politically damaging part of Namal’s case is not the fraud itself \u2014 it is the alleged cover-up.<\/p>\n
He claims the Treasury fraud was concealed from the public for approximately eight months. If accurate, this means Sri Lankan citizens had no idea that USD 2.5 million of public funds \u2014 money that could have come from foreign remittances or international aid \u2014 had been siphoned away to a fraudulent account while the government stayed silent.<\/p>\n
“Public funds, including foreign remittances and aid contributions, are at risk if adequate safeguards are not in place,” Namal warned journalists.<\/p>\n
This hits a raw nerve in Sri Lanka. The country went through catastrophic financial mismanagement between 2019 and 2022, leading to a complete economic collapse \u2014 empty fuel stations, medicine shortages, 13-hour power cuts, and mass protests that eventually forced President Gotabaya Rajapaksa to flee the country. Sri Lankans are extremely sensitive to any signs that their government is once again being careless or dishonest with public money.<\/p>\n
\nThe Government’s Response: Denial and Deflection<\/h2>\n
The current NPP government has pushed back on these claims. Officials have described allegations about the RDA payments as “baseless” and suggested that the Treasury incident is being actively investigated by multiple agencies.<\/p>\n
But critics note that the government’s responses have been reactive and incomplete. No senior minister has yet held a full press conference to explain the timeline of events surrounding the USD 2.5 million fraud \u2014 when it was discovered, why it was not announced immediately, and what steps are in place to prevent it from happening again.<\/p>\n
Finance Ministry Secretary Harshana Suriyapperuma has acknowledged that the funds were likely diverted by a third party through compromised system access. However, this falls short of the complete transparency that Namal \u2014 and many Sri Lankan voters \u2014 are demanding.<\/p>\n
\nWhy Is Namal Rajapaksa Raising These Allegations?<\/h2>\n
It is important to understand the political context here. Namal Rajapaksa is not a neutral observer. He is the national organizer of the SLPP, the party founded by his own family, and a member of Parliament who is widely seen as a future presidential candidate. His party was decimated in the 2024 elections that brought President Dissanayake to power.<\/p>\n
Namal himself is not free from legal scrutiny. He currently faces a court indictment related to allegations of misappropriating funds from a real estate investment involving an Indian company. He has denied all charges, calling the indictment politically motivated.<\/p>\n
This background matters. Namal’s critics will argue that he is doing precisely what opposition politicians always do \u2014 making noise about government scandals while avoiding accountability for his own family’s record. The Rajapaksa era, after all, left Sri Lanka with billions in debt, sweeping corruption allegations, and an economic disaster that millions of Sri Lankans are still recovering from.<\/p>\n
But here is the key point: political motivation does not automatically make allegations false. The documents Namal is citing \u2014 the BOC Recall of Funds notice, the multi-agency investigation into the Treasury fraud \u2014 are real. The questions he is raising deserve real answers, regardless of who is asking them.<\/p>\n
\nWhat Does This Mean for Sri Lanka’s Anti-Corruption Drive?<\/h2>\n
President Dissanayake came to power in September 2024 on an unprecedented wave of public support, built largely on his reputation as a clean politician untouched by the corruption of both the Rajapaksa and Wickremesinghe eras. Voters trusted him with a powerful parliamentary majority.<\/p>\n
The Treasury fraud, the RDA duplicate payments, and the alleged cover-up now threaten to chip away at that trust. The government’s credibility depends on how swiftly and transparently it handles these cases. Half-measures and vague denials will only fuel suspicion.<\/p>\n
Accountability is not a partisan issue. It is the foundation of every functioning democracy. Sri Lanka’s citizens \u2014 who have suffered so deeply \u2014 deserve a government that holds itself to the same rigorous standards it promised during the election campaign.<\/p>\n
If the investigations into the Treasury fraud, the RDA payments, and the container scandal result in arrests, prosecutions, and real systemic reforms, the government can credibly claim it is doing its job. But if suspects are allowed to walk free and official denials pile up, the public has every right to ask whether history is repeating itself.<\/p>\n
\nKey Facts at a Glance<\/h2>\n\n- USD 2.5 million<\/strong> disappeared from the Sri Lanka Ministry of Finance between December 2025 and January 2026<\/li>\n
- The fraud was allegedly concealed for approximately 8 months<\/strong><\/li>\n
- Rs. 263 million<\/strong> was erroneously transferred to contractors by the RDA; over Rs. 51 million<\/strong> remains unaccounted for<\/li>\n
- Namal Rajapaksa alleges the fraud involved forged documents<\/strong>, not a sophisticated cyberattack<\/li>\n
- Multiple agencies \u2014 SL-CERT, CID, Central Bank FIU \u2014 are currently investigating<\/li>\n
- Several Treasury officials have already been suspended<\/strong><\/li>\n<\/ul>\n
\nFinal Thoughts: Sri Lanka Needs Answers, Not Spin<\/h2>\n
Sri Lanka is a country that has been lied to before \u2014 by governments of all stripes, from all parties. The scars of the 2022 economic collapse are still fresh. Families that went months without cooking gas and children who studied under candlelight have not forgotten.<\/p>\n
That is why the current financial controversies matter so much. Not because Namal Rajapaksa is raising them. Not because the opposition wants political points. But because Sri Lankan taxpayers deserve to know exactly what happened to their money \u2014 every single rupee and every single dollar.<\/p>\n
The government must answer clearly and quickly. And if wrongdoing is confirmed, those responsible must face justice \u2014 no matter how senior they are.<\/p>\n","protected":false},"excerpt":{"rendered":"
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