PAC Orders Union Trust Bank to Pay Le 460M to SLRSA
During ongoing hearings on the 2021 and 2022 Auditor General’s Reports, the Public Accounts Committee (PAC), chaired by Deputy Speaker Hon. Ibrahim Tawa Conteh, ordered Union Trust Bank’s Kenema Branch on September 4th, 2024, to pay Le 460 million to the SLRSA.
The order follows a Le 471 million discrepancy identified in the 2022 audit report between the bank and its account holder. Additionally, the PAC directed the Bank Manager to pay Le 11 million for negligence and failure to perform due diligence within two months. The manager was also recommended for suspension, transfer, and demotion.
Meanwhile, Hon. Conteh revealed that PAC’s ruling on budgetary enhancements led the Ministry of Finance to receive requests from MDAs totaling Le 198 billion, subject to parliamentary approval. Before this ruling, the ministry typically processed such requests without involving Parliament. Budgetary enhancements refer to funds outside the approved national budget for government services.
