By Ibrahim Joenal Sesay
FREETOWN, Mar. 30 (232news.com) – A cumulative amount US $888,035.26 is reported missing in Sierra Leone Maritime Administration (SLMA) which according to Audit Report are moneys that were generated by the administration in 2019 and 2020 but they failed to report the money in the General Purpose Financial Statement.
“From the information provided for 2019, the indicative GoSL share of the revenue generated was US$767,070.28. However, only US$287,192.64 was remitted by the SLMARAD, leaving an outstanding of US$479,877.64 not remitted by the SLMARAD. This amount was however not disclosed in the revenue arrears in the General-Purpose Financial Statements,” the report revealed
Adding that: “similarly in 2020, the indicative GoSL share of the revenue generated was US$705,149.57; however, only US$296,991.95 was paid, leaving an outstanding of US$408,157.62 not remitted by SLMARAD, and the said amount was not disclosed in the revenue arrears in the General-Purpose Financial Statements.”
The report stated that the auditors reviewed a contract agreement and contract addenda between the Sierra Leone Maritime Administration and the Ship Registration Bureau Limited-Sierra Leone Maritime Administration Shipping Registration (SLMARAD) for the sale of the Sierra Leone flag of convenience on the registration of ships.
Details on this in subsequent publications
