Freetown, Sierra Leone – A staggering Le6.5 billion remains unaccounted for at the University of Sierra Leone (USL) following an investigative report that exposed widespread financial mismanagement and procurement violations.
The damning revelations, presented to the court on January 30, 2025, have prompted urgent calls for a forensic audit to trace the missing funds.
Commissioned in 2024, the investigation uncovered serious lapses in financial oversight, procurement procedures, and governance across USL’s three constituent institutions—Fourah Bay College (FBC), the Institute of Public Administration and Management (IPAM), and the College of Medicine and Allied Health Sciences (COMAHS).
#Billions Missing, No Financial Records
According to the report, USL failed to produce audited financial statements for 2021–2023, violating the Universities Act (2021). The absence of proper documentation has made it impossible to account for the missing Le6.5 billion, raising concerns of possible misappropriation.
Compounding the issue is the mismanagement of the SAGE 300 accounting system, which was introduced to improve financial transparency but has been rendered ineffective due to inadequate staff training.
Procurement Scandals and Overspending
The university’s procurement practices were found to be riddled with violations of National Public Procurement Authority (NPPA) regulations. Investigators flagged the unauthorized purchase of a $126,000 vehicle and uncovered irregularities in the university’s Business Centre, which had been operating beyond its mandate by acting as both supplier and procurement facilitator—creating a serious conflict of interest.
Research Grants Under Scrutiny
The report also revealed the mismanagement of millions of dollars in research grants, with officials unable to provide documentation for how the funds were utilized. This raises fears of possible embezzlement within USL’s research programs.
Weak Governance and Oversight
A breakdown in governance structures further exacerbated the financial crisis. Audit and procurement committees were found to be non-functional, allowing financial mismanagement to go unchecked. Additionally, leadership transitions at USL were marred by poor record-keeping and unstructured handovers, leading to inefficiencies.
Recommendations for Reform
The report calls for:
– A full forensic audit** to trace missing funds and research grants.
– Enforcement of financial reporting standards,** ensuring timely submission of audited financial statements.
– Procurement and governance reforms, including the reactivation of audit and procurement committees to strengthen oversight.
With the university at the center of a major financial scandal, pressure is mounting on authorities to take decisive action. Stakeholders are now demanding accountability and urgent reforms to restore integrity to Sierra Leone’s premier higher learning institution.
