University of Sierra Leone Loses $4.5 Million in Failed Scam Partnership with Nigerian Developer
The University of Sierra Leone (USL) has found itself at the center of a major financial scandal, having lost a staggering US$4.5 million in a disastrous Public-Private Partnership (PPP) with a Nigerian company.
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This significant sum, earmarked for a new campus project, was
disbursed despite multiple warnings, raising serious concerns about governance
and oversight within the institution.
The project, initiated in 2017, aimed to
construct a US$50 million campus for the Institute of Public Administration and
Management (IPAM) at Bureh Town. It began with much anticipation and was seen
as a significant step forward for Sierra Leone’s educational infrastructure.
However, the partnership with the Nigerian
developer, Femab Properties, quickly turned problematic. The company failed to
fulfill its commitments, leaving the university with little to show for its
substantial financial outlay.
From the outset, the deal was celebrated with
considerable fanfare. It was endorsed by the Sierra Leonean Parliament and
supported at the highest levels of government, including a high-profile event
at the State House. However, beneath the surface, there were significant concerns
about the terms of the agreement.
Financial Secretary Sahr Jusu raised alarms early
on, pointing out critical flaws in the contract, such as the absence of a
guarantee for the advance payment and the vague nature of the terms. Despite
these warnings, USL proceeded with the transfer of funds, bypassing essential
financial safeguards that might have protected the university's assets.
The consequences of this decision have been severe. The site at Bureh Town once envisioned as a cornerstone of Sierra Leone’s educational future, now lies abandoned. Efforts to hold Femab Properties accountable have been met with silence and the university finds itself with no clear path to recovering the lost funds.
This situation has not only halted a key infrastructure project but has also placed a significant financial strain on the university. The scandal has only come to light after persistent investigative efforts. For a considerable time, the university's administration kept the financial loss under wraps, avoiding public scrutiny.
When the details finally emerged, they painted a picture of systemic failure
within the institution. The decision to move forward with the payment, despite
clear red flags, suggests a troubling disregard for financial due diligence and
raises serious questions about the accountability of those in charge.
Implications of this financial debacle extend beyond the university itself. The loss of such a substantial sum of public funds underscores the need for greater transparency and stronger oversight mechanisms in Sierra Leone’s public institutions.
It also highlights the risks
associated with Public-Private Partnerships, especially in contexts where
governance structures are weak, and financial safeguards are not rigorously
enforced.
The situation at USL serves as a cautionary tale for other institutions in the country. It illustrates the potential dangers of bypassing established financial procedures and the critical importance of due diligence in large-scale projects.
As the university grapples with the fallout
from this failed partnership, there is a growing call for those responsible to
be held accountable. The broader public will be watching closely to see how the
university, and indeed the government, responds to this crisis.
Moving forward, the lessons from this scandal
should inform future decisions not only within USL but also across Sierra
Leone’s public sector. The hope is that by addressing the issues that led to
this significant loss, other institutions can avoid similar pitfalls and ensure
that public funds are used effectively and responsibly.