Andrew Kamara: 13th January 2024:
In a shocking revelation by Sierra Leone’s ministry of finance yesterday, seven people believed to be SLPP party operatives working across various government departments, have been caught stealing a staggering Le12 billion (Old Leones).
Disturbingly, this financial malfeasance occurred in December 2023, bringing into question the integrity of the government’s financial management systems.
The gravity of the situation becomes even more apparent as Le4 billion (Old Leones) was reversed into the government’s consolidated fund account, while the remaining Le8 billion (Old Leones) mysteriously vanished into private accounts held by individuals implicated in the alleged diversion of funds.
According to the ministry of finance, the following employees of various government departments are being accused of misappropriation of public funds: Jacob Tenga Sessie – Deputy Director of Budget, ministry of finance; Emmanuel Smart – Accounting Officer, Sierra Leone Roads Authority; Starlyn Kemoh – Accountant, Accountant General’s Department; Ibrahim Bangura – Senior Accountant, Accountant General’s Department; John Ellie – Principal Accountant, Accountant General’s Department; Joseph Johnson – Accountant, Accountant General’s Department; Philip Yomba – Senior Accountant, Accountant General’s Department.
The ministry of finance press release reports that Le6.5 billion (Old Leones) was processed at the Accountant General’s Department (AGD) for payment to Edward Davies and Associates Ltd, in what has been described as a web of collusion among SLRA, MoF, and AGD staff.
It was discovered that a fictitious bank account was established at the Kabala Community Bank to divert stolen funds from Rokel Commercial Bank, where the legitimate account of the Consultancy firm is held.
The alleged embezzlement and withdrawal of public funds by accused individuals not only raises serious concerns about the financial management practices within the SLPP/Bio regime but also underscores the urgency for a thorough and impartial investigation into this matter.
Such financial misconduct not only undermines public trust but jeopardizes the credibility and integrity of the entire government.
This scandal demands accountability, transparency, and a swift response from relevant authorities to restore faith in the government’s ability to manage public funds responsibly. It also serves as a stark reminder of the critical importance of robust oversight mechanisms to prevent and address corruption within the corridors of power.
As this revelation unfolds, it is imperative that citizens, civil society, and international partners remain vigilant, demanding justice and accountability in the face of financial impropriety at the highest levels of government.
No wonder the national debt is almost $4 Billion, the debt to GDP ratio is almost 100% and the Bank of Sierra Leone’s foreign currency reserves have been depleted to 2.3 months of imports far beyond the recommended 3 months.
As the President is globe-trotting, everyone thinks the country has money to spare. Everyone thinks of the President’s professed anti-corruption credentials along the lines: he who comes to equity must come with clean hands, i.e. a person who makes a claim in equity must be free from any taint of fraud with respect to that claim. Who will ever forget the corruption accusations levied against Bio by late President Kabbah, by the APC Presidential candidate Samura and the Auditor General?
The country is on a debt binge and on course to soon surpass the highest ever debt to GDP ratio of 125% set in 1995 during Bio’s NPRC regime. With the national currency – the Leone- being the 3rd worst performing currency in the world, the debt mountain could only continue to bury the country in poverty, penury and pauperism.
https://worldpopulationreview.com/country-rankings/debt-to-gdp-ratio-by-country
https://www.forbes.com/uk/advisor/investing/currencies/top-10-weakest-currencies-in-the-world/
Dark clouds of the simulated and feigned coup alleged to have been committed against an illegitimate Government and its consequent ripples and dominoes unleashed on the peace, security and stability in the country are gathering on the horizon. Where is BBC Africa Eye when Sierra Leone needs it most? Remarkable how they exposed the fake pastor T B Joshua with his fake miracles. See below:
https://www.google.com/amp/s/www.bbc.co.uk/news/world-africa-67944614.amp
With such a context and backdrop, the country’s junk credit risk rating will keep plummetting, reducing her ability to get concessionary loans and attract foreign direct investment which is the only panacea or silver bullet- if you like- that will fuel robust economic growth that will outpace the bulging population growth.