Africa-Press – Sierra-Leone. A recent World Bank World Economic Report has revealed that Sierra Leone has lost an estimated $24.7 million over the past three years due to financial leakages stemming from transit bank frauds, unpaid tax arrears, contract non-compliance, and weak institutional oversight.
The report highlights a concerning pattern of systemic inefficiencies and poor enforcement of fiscal regulations that continue to drain the country’s limited financial resources. It notes that despite several reform commitments and the establishment of oversight agencies, leakages persist across ministries, departments, and agencies.
According to the World Bank, these losses represent significant missed opportunities for national development, especially in key sectors such as healthcare, education, and infrastructure. The report further calls for improved public financial management, stronger accountability frameworks, and the digitalization of government transactions to prevent further fraud and misappropriation.
Reacting to the findings, journalist and social commentator Thomas Dixon sharply criticized the Bio administration, accusing it of failing to address recurring financial indiscipline within the public sector.
“We keep losing millions to corruption and negligence, yet the government continues to make empty promises,” Dixon said. “This level of financial leakage is unacceptable in a country struggling to provide basic services for its people.”
Dixon added that the consistent pattern of waste and poor fiscal accountability has eroded public trust and discouraged foreign investors who view Sierra Leone as a high-risk environment.
He further urged the Anti-Corruption Commission (ACC) and Audit Service Sierra Leone to act decisively, saying mere reports and committees were not enough.
“We don’t need another whitepaper; we need prosecutions and recoveries,” he stated.
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