AYV News, May 9, 2025
Commissioner of the Anti-Corruption Commission (ACC) in Sierra Leone, Francis Ben Kaifala has said Koidu Holdings claims against the country’s First Lady, Dr. Fatima Maada Bio are INACCURATE and INCORRECT.
He said the Commission is currently investigating Koidu Holdings (SL) Limited for offences including Corporate and other Tax Evasion, Failure to apply appropriate deductions to employees’ emoluments and onward payment to the appropriate state institutions, Abuse of power by avoidance of Payment of required Employees’ Entitlements including payments of employees’ subscriptions to the National Social Security and Insurance Trust (NASSIT) and the National Revenue Authority, Failure to pay appropriate taxes on minerals export, Abuse of labour laws and regulations through failure to follow local content laws and regulations, Inappropriate use of expatriates that lead to avoidance of tax liabilities for employees, improper offshore arrangements that undermine Sierra Leone’s revenue generation and mobilization, collusion with state institutions to undermine revenue payments and other similar liabilities, collusion with individuals to avoid proper labour rights entitlements to their staff, etc.
ACC’s Director of Public Education and Outreach, Abubakarr Turay said the Commission’s attention has been drawn to a letter dated 6th May 2025 by Octea Limited addressed to the Office of the First Lady of the Republic of Sierra Leone in which assertions were made on our investigation of Koidu Holdings (SL) Limited that are inaccurate or incorrect.
Turay said: “We are particularly interested in the following inaccurate statement: ‘The Sierra Leone Anti-Corruption Commission…has confirmed there was no evidence of any corruption, bribery or similar alleged activities of Koidu’. While the Commission confirms that it has an ongoing investigation against Koidu Holdings Limited for serious corruption offences under the Anti-Corruption Act 2008 as amended by the Anti-Corruption (Amendment) Act 2019, there has not been a conclusion or confirmation at any point”.
He said the Commission hereby confirms that contrary to the assertion in the said letter from Octea Limited that that it had cleared Koidu Holdings Limited of any corruption, these issues remain under investigation and at no time had it reached such a decision.
These issues Turay went on, are still actively under investigation and upon conclusion, all stakeholders and the Public will be duly notified the outcomes.
“On another note, the assertion in the said letter that the First lady of Sierra Leone had been investigated by the Commission for “…financial affairs for siphoning public and charity funds for your personal shopping, travel and accommodation…” is inaccurate. What the Commission investigated was whether it was proper for public funds to be allocated to the said office; and we found that it was in deed proper considering that previous first ladies had had similar or larger allocations either through the Office of the President or other ministries, department and agencies in the past in support of projects that this significant office undertake in support of the President or government. We followed with preventative recommendations to the state that have since been fully implemented”. Abubakarr Turay concluded.
