By Amin Kef (Ranger)
The Anti-Corruption Commission (ACC) announced on Tuesday, October 29, 2024, that it has filed a sweeping indictment against Abdul Salim Mansaray, former Head of Retail Operations at Ecobank (SL) Limited; the bank itself; and two other individuals, Tallu Jalloh and Magnus Samuel Valentine Cole. The ACC disclosed that the four are collectively facing 147 counts of corruption and related offenses, marking a significant move in the Commission’s intensified efforts to combat financial misconduct in Sierra Leone.
The indictments highlight a series of alleged misconducts:
Abdul Salim Mansaray is charged with 57 counts of Misappropriation of Public Revenue, one count of Unlawfully Acquiring Public Property, one count of Conspiracy to Commit a Corruption Offense, eight counts of Providing Misleading Information, and one count of Transferring Property to Disguise its Illicit Nature in violation of both the Anti-Corruption Act and the Anti-Money Laundering and Combating of Terrorism Act.
Ecobank (SL) Limited, as a corporate entity, faces 142 counts of corruption, including 57 counts of Misappropriation of Public Revenue, 57 counts of Failure to Report a Suspicious Transaction, 18 counts of Failure to Conduct Due Diligence on Customer Transactions, and 10 counts of Providing Misleading Information. The ACC’s charges underscore alleged lapses by Ecobank in its financial oversight, particularly with regard to failing to flag suspicious transactions involving large sums of money.
Tallu Jalloh and Magnus Samuel Valentine Cole each face one count of Unlawfully Acquiring Public Property and one count of Conspiracy to Commit a Corruption Offense. Their charges stem from allegedly conspiring with Mansaray in facilitating the misappropriation of significant sums of public funds.
The allegations center around a period from March 2022 to October 2023, during which time Mansaray and Ecobank are accused of diverting tax revenues owed to the National Revenue Authority (NRA) into the personal bank accounts of Jalloh and Cole. According to the ACC, the funds amounted to a total of 17,453,863.35 new Leones (LE), which were reportedly misdirected from payments by companies such as Oxfam, FG Gold Ltd., Meya Mining, Atlantic Lumley Hotel, NP (SL) Ltd., and Conex Energy, among others.
The transactions in question were allegedly flagged as “suspicious” due to their unusually high amounts, yet Ecobank (SL) Limited reportedly failed to report them to the Financial Intelligence Agency as required under the Anti-Money Laundering and Combating of Terrorism and Financing of Weapons of Mass Destruction Act.
In its public statement, the ACC reaffirmed its commitment to eradicating corruption across both the public and private sectors in Sierra Leone. The Commission emphasized that this case reflects its unwavering dedication to holding individuals and institutions accountable for any financial misconduct that undermines public trust and the nation’s economic integrity.
The ACC’s press release concluded with a message assuring the public that efforts to address corruption, particularly involving large financial institutions, will continue in full force.
