AYV News, April 11, 2025
The Public Accounts Committee (PAC) has issued a stern warning to the Accountant General and his staff, threatening salary deductions if they fail to justify the unlawful use of the selling exchange rate in contractor payments, which contradicts the terms outlined in contract clauses.
The discrepancy, amounting to over NLe3.1 million, was uncovered in the 2023 Auditor General’s Report.
During a public hearing on April 8, 2025, PAC Chairman Ibrahim Tawa Conteh highlighted page 10 of the report, which flagged multiple payments that ignored the contractual requirement to use the mid-rate for currency conversion.
Instead, officials processed payments using the higher selling rate, leading to a variance of NLe3,166,906.88.
Conteh initially proposed that the variance be deducted directly from the salaries of those responsible, including the Accountant General.
However, he withheld the decision after an appeal from the accused parties.
“This is not just a minor oversight. This is a breach of contract with serious financial implications,” Conteh asserted, emphasizing that the matter would not be treated lightly.
Committee member Hon. Aaron Aruna Koroma also stressed the need for accountability, stating, “According to the documents, the Bank of Sierra Leone (BSL) is acting based on what’s written on the cheques. If the contracts were not adhered to, the responsibility lies squarely with the Accountant General’s Office.” Koroma further called for clarity regarding the contractors’ current standing, noting that many had signed agreements for payment using the mid-rate but were underpaid due to the application of the selling rate.
In response to questions, a representative from the Accountant General’s Office explained that payments in U.S. dollars include both the dollar amount and the Leone equivalent on the cheques. However, they acknowledged that the BSL applied the selling rate during the processing of payments.
Representative from the Bank of Sierra Leone defended the institution’s role, stating that the bank does not have access to contract details and merely executes payments based on the instructions received, using the official selling rate of the day as standard.
All parties involved are expected to return before the committee today Thursday 10th April with verified vouchers and a detailed explanation. The PAC has made it clear that failure to justify the breach may result in disciplinary action, including financial penalties.
