DF Governor Blames Ex-Governor Ibaneis for BRB Crisis, Cites 'Megalomania'
The Governor of the Federal District, Celina Leão, has attributed failures leading to the crisis at Banco de Brasília (BRB) and unsuccessful transactions with Banco Master to former Governor Ibaneis Rocha. Leão stated that Rocha erred in his choice of Paulo Henrique Costa, the former BRB president who was arrested by the Federal Police in November 2025 as part of Operation Compliance Zero. Leão described Costa as "megalomaniacal" and suggested his management style was disconnected from the bank's reality, citing his sponsorship of races abroad. She also pointed to deficiencies within BRB's own compliance department, noting that Costa allegedly reduced the number of directors to maintain tighter control over decisions. Leão, who became Governor of the Federal District in April of this year after Ibaneis Rocha stepped down, has implemented significant changes at BRB. These include replacing all superintendents and directors, initiating international audits, and securing an agreement with the Supreme Court to recapitalize the institution. She highlighted that these efforts, despite initial skepticism due to her gender, have led to the discovery of various crimes, which have been reported by the press and the Prosecutor General's Office (PGR).
This situation highlights the critical importance of robust due diligence and independent oversight in public financial institutions. The governor's critique of the former governor's appointment and the alleged megalomania of the former bank president underscores systemic risks associated with personal connections influencing executive selection. The subsequent need for international audits and a Supreme Court agreement to recapitalize BRB suggests potential governance failures and a lack of internal controls. Moving forward, strengthening independent audit functions and establishing clear, merit-based criteria for leadership appointments in public banks will be crucial to mitigate future risks and ensure financial stability, especially as the digital economy demands greater transparency and accountability.
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