Post a comment 
The Ministry of Technical and Higher Education has directed all commercial banks to immediately suspend financial transactions on accounts belonging to Milton Margai Technical University.
In an official communication dated April 15, 2026, and addressed to the Bank Governor of the Bank of Sierra Leone, as well as managing directors and bank managers nationwide, the Ministry instructed that all withdrawals, transfers, and outward transactions on the university’s accounts be halted with immediate effect.
The directive applies broadly to all accounts held in the name of the university, including operational, project, donor-funded, subsidiary, and affiliated accounts across all financial institutions.
According to the Ministry, the decision is grounded in its statutory oversight authority under the Universities Act No. 5 of 2021, which mandates it to supervise public tertiary institutions and ensure accountability in the management of public funds.
The move follows the interim suspension of the Vice-Chancellor and Principal of the university, Dr. Philip Kanu, by the Chancellor and Chairman of the University Court on April 8, 2026.
The Ministry stated that the suspension of financial transactions is a protective administrative and legal measure aimed at preserving public funds, ensuring compliance with governance procedures, and safeguarding the financial integrity of the institution pending further review.
“This suspension shall remain in force until further written authorization is issued by the Ministry,” the notice emphasized.
The Ministry also referenced an earlier suspension letter issued by the Chancellor and Chairman of the University Court as the basis for its directive and called on all banks to comply immediately.
