By Abubakarr Tarawally
The Anti-Corruption Commission (ACC) has uncovered a corruption syndicate within the Commerce and Mortage Bank (CMB) in collaboration with some low-level staff within the Freetown City Council (FCC).
The act has led to the misappropriation of approximately 4 billion old Leones in the council’s l revenue collection system.
Staff from the Commerce and Mortgage Bank were accused of forging signatures and manipulating account details to enable the fraudulent transfer from the council.
The Freetown City Council discovered discrepancies in it revenue system, after payment made to the council, including those for billboards, licenses, rents, graveyards, and other payments were not reflecting in the official Council’s Account.
In a press conference organised by ACC on Thursday, 6 March at its Head Office on Tower Hill, the ACC Commissioner Francis Ben-Kaifala, revealed that the commerce and Mortgage Bank have been working with some staffs within the FCC to open a private account.
He disclosed that they have arrested 15 individuals-13 from the FCC and two from the Commerce and Mortage Bank, adding that some of the suspects have already confessed and began refunding some of the money they stole.
”This syndicate involved messengers, billboard processors, and other low-level staff. If such individuals can steal 4 billion Leones, imagine the scale of corruption across multiple institutions. It’s a systemic issue that requires systemic solutions,” he said.
He emphasized that the transfer instructions meant for the council were altered to include “Football Club,” diverting the funds into the club’s account. He continues that the account that was initially created to manage the team’s finances, had been repurposed for fraudulent activities.
He stressed that the scandal has raised serious conversation about the need for stronger financial controls and accountability mechanisms, particularly within the banking sector.
He further stated that experts are calling for enhanced regulatory oversight, stricter enforcement of anti-money laundering protocols, and better training for bank staff to detect and prevent fraudulent activities.
”Banks are supposed to protect public funds, not aid in their theft. This is a betrayal of trust and serious breach of duty,” he said.
He said FCC has pledged to work with the ACC to help fix the financial systems and prevent future breaches. He therefore urged the media and the public to remain vigilant; stressing that, combating corruption requires collective effort.
He assured that the investigations will continue until everyone involved is brought to book; stating that, we cannot change the story of this country unless everyone is on-board to help tackle corruption at all levels, from the top to the bottom.
