By Hassan Osman Kargbo
In a shocking revelation, Sierra Leone’s Anti-Corruption Commissioner, Francis Ben Kaifala Esq., has uncovered a massive fraud scheme involving personnel from the Freetown City Council (FCC) and two staff members of the Commercial Mortgage Bank (CMB).
The fraud, which resulted in the disappearance of over NLe 4 billion, has sparked public outrage and raised serious concerns about the integrity of financial institutions in the country.
The scheme, as explained by Commissioner Kaifala, involved a conspiracy between FCC staff and CMB employees, with the perpetrators engaging in fraudulent activities that enabled them embezzle a staggering sum of money from the city council.
The fraudsters altered council payment cheques by attaching the words “Football Club” to them, thereby diverting the funds into a football club account. Once the cheques were deposited into the account, the criminals had free access to withdraw and share the stolen money among themselves.
The Commissioner made it clear that such an audacious fraud could not have occurred without the active involvement and cooperation of the CMB staff.
The revelation places a significant spotlight on the role of financial institutions in facilitating or preventing fraudulent activities; and it is expected to raise concerns about the regulatory oversight of banks in Sierra Leone.
The ACC boss vowed to take swift and decisive action against those responsible for the theft, revealing that the Anti-Corruption Commission (ACC) is already in discussions with CMB authorities; and that the bank would be held accountable for its role in allowing the fraudulent cheques to be processed and deposited without due diligence.
The ACC is demanding that the bank repay every penny of the stolen funds, warning all financial institutions in the country to take the necessary precautions to prevent similar fraudulent acts in the future. “Let this serve as a warning to other banks in Sierra Leone,” Commissioner Kaifala stated. “If any bank is found to be complicit in fraudulent acts, they will face the full force of the law. We will not allow corrupt practices to undermine the financial integrity of our institutions.”
The theft of over NLe 4 billion is not only a direct loss to the Freetown City Council but also a major blow to local governance and the delivery of essential services to the public.
The missing funds were intended to support the city’s vital operations, including infrastructure projects, waste management, and other local government services. Without the funds, the FCC’s ability to function effectively is compromised, and the local community suffers as a result.
While the fraud has caused significant harm to the council and the people of Freetown, the ACC has made notable progress in investigating the case. Several individuals involved in the scheme have already been arrested, and many have admitted to their participation in the fraudulent activities.
Commissioner Kaifala has reassured the public that those involved would face the full force of the law, and legal action would be taken against everyone found guilty.
“The fight against corruption is a priority for the Anti-Corruption Commission,” Kaifala emphasized. “We will continue to protect the nation’s resources and ensure that those who engage in corrupt practices are brought to justice.”
To further strengthen the fight against corruption, the ACC has urged citizens to remain vigilant and report any suspicious activities they encounter, whether in government offices, ministries, or local institutions.
Commissioner Kaifala noted that corruption often occurs in places where people least expect it, even among low-level staff in public offices.
He promised that the ACC would continue its efforts to uncover all corrupt practices, regardless of the position or status of those involved.
The ACC’s determination to tackle corruption and safeguard the country’s resources has been reinforced with this high-profile case, and the public is hopeful that this latest development will mark a turning point in the fight against financial malfeasance in Sierra Leone.
