By Amin Kef (Ranger)
The University of Sierra Leone has on Wednesday September 4, 2024 issued a formal response to allegations made in the August 2024 edition of AFRICA CONFIDENTIAL, which reported that the institution lost $4.5 million of public funds to a Nigerian company, FEMAB Properties, due to ignored red flags and overridden safeguards.
In a statement released on the 4th September,2024 the University’s Management clarified that there is no secretive conduct surrounding their dealings with FEMAB Properties regarding the construction of the IPAM Bureh Town campus. The Management reiterated its commitment to transparency and its willingness to update stakeholders and the public about the project’s progress.
The University detailed that a Press Conference was held on February 5, 2022, at IPAM to update the public on the Bureh Town Campus project. Additionally, they are aware of the recent Press Release by the Anti-Corruption Commission (ACC) concerning the AFRICA CONFIDENTIAL report and are cooperating with the ongoing investigation.
The background of the project dates back to January 2016 when FEMAB Properties was introduced to IPAM by the Sierra Leone Investment and Export Promotion Agency (SLIEPA). A proposal for a residential campus was subsequently presented and approved by the University’s Finance and General-Purpose Committee (F&GPC) in March 2016.
The University paid for land acquisition and undertook due diligence, including a visit to FEMAB Properties’ construction facilities in Nigeria. The project, a public-private partnership (PPP), received support from the then President and Financial Secretary of Sierra Leone.
However, changes in Government and University Management in 2018 led to delays. Negotiations with FEMAB continued and by August 2018, a contract was signed with terms ratified by Parliament. Subsequent issues with securing a bank guarantee and other financial hurdles led to delays and complications.
In response to these challenges, a new financing framework was agreed upon in August 2022, and further discussions were held in February 2023. The University Management, under its new leadership, visited Lagos in August 2024 to discuss the revised terms with FEMAB. However, a site visit on August 24, 2024, revealed that the site had been abandoned and construction materials removed.
The University emphasized that the ACC has requested documents for their investigation, and the institution urges the public to await the investigation’s outcome. The University remains committed to transparency and will provide updates as new information emerges from the ACC’s findings.
The University of Sierra Leone remains dedicated to addressing any issues and moving forward with the Bureh Town campus project, pending resolution of the current financial and investigative challenges.
