Mr. Tamba Momoh, the Deputy Auditor of Audit Service Sierra Leone in presenting their 2014 Audit report to Public Account Committee (P. A. C) in parliament on Monday 13th June 2016 said the Bank of Sierra Leone is to account for Le29, 814,000 (twenty nine million, eight hundred and fourteen thousand Leones), for wrongly recording in the bank books air ticket fee paid by the bank for staff who planned to travel to Nigeria for a seminar.

Audit Service Sierra Leone

Adding that advances given to former staff of the bank amounting to Le 32,447,698 (thirty two million, four hundred and forty- seven thousand, six hundred and ninety- eight Leones), Tamba Momoh, explained that those were still in the books as staff advances even though those staff had left the bank. According to him, since then, no recoveries have been made.

He disclosed that it was also observed that interest due from loan to the Sierra Leone Stock Exchange, from the Bank was completely omitted from the books. He said those were loans given out by the Central Bank of Sierra Leone, therefore it was expected that both interests and principal amounts were recovered.

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“The Central Bank did not provide any bank reconciliation statements for HSBC US Dollar Call Account, HSBC Pound Sterling Account and the Access Bank Debit Card Account for the periods: 1st January to 31st December 2014. As a result the Auditor’s were unable to verify the accuracy of those account balances provided to the audit team for audit purposes,” he revealed.

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Momoh furthered that the Deputy Bank Governor Dr. Ibrahim Stevens in an attempt to set right the foregoing issues, said the flying did not materialize because they could not join the flight on time, and the Le 29 million that was given to them (staff) for air tickets fee was not refunded to the bank.

Responding to the delivery of Tamba Momoh, Hon. Hassan Sheriff, a member of PAC said the internal Auditors of some MDAs are not effective and added that if they were effective punitive measures should have been surfacing. “The money that was handed to staff in order for them to travel to Nigeria, which fell through, must be refunded to the bank by those staff,” he ordered.