Managing Director Of SLCB Implicated In Procurement Fraud

Documents in the possession of the New Age shows that the Managing Director of the Sierra Leone Commercial Bank (SLCB), Yusufu Abdul Silla failed to follow procurement processes for the purchase of his official vehicle.
For which he (the Managing Director) disregarded the decision of the SLCB Board and purchased the vehicle for an amount way above what was approved by the Board.
That the Managing Director directed that the vehicle be bought through Sole Sourcing instead of the transparent method of advertised National Competitive Bidding which is the government process of purchasing goods.
That the MD singlehandedly changed the specification of vehicle that should have been purchased and bought another vehicle at a higher cost without prior notice to the Board and the Procurement Committee of the SLCB.
The MD forced his way and ordered the Director of Finance and the Head of Procurement to process and effect payment, and assured that he will get the Board to approve the transaction.
In his response, the Company Secretary of the Bank, Victor T. Biandoma acknowledged that there were allegations of the concerns raised and that the Anti-Corruption Commission (ACC) is currently investigating the matter.
He refused to comment further on the issue and that they are waiting on the outcome of the ACC’s investigation.
More on this in our subsequent editions.