The University of Sierra Leone (USL) is embroiled in a financial scandal of alarming proportions, following the loss of $4.5 million in a failed Public-Private Partnership (PPP) with Nigerian firm, Femab Properties. The partnership, intended to finance the construction of a new campus for the Institute of Public Administration and Management (IPAM) at Bureh Town, has collapsed, leaving the University facing serious questions about its governance and financial oversight.

The ill-fated project, initiated in 2017, was conceived as a $50 million venture aimed at bolstering Sierra Leone’s educational infrastructure. However, the ambitious plan quickly unraveled as Femab Properties failed to meet its contractual obligations, leaving behind an abandoned construction site and a massive financial shortfall.

Despite early warnings and objections from senior financial officials, including Financial Secretary Sahr Jusu, the University proceeded with the partnership. Jusu had raised significant concerns about the contract, particularly its vague terms and the absence of a payment guarantee, which he feared could jeopardize the University’s investment. His warnings went unheeded, leading to the release of $4.5 million to Femab Properties without the necessary safeguards in place.

The fallout from this disastrous decision has been severe. The project, once hailed as a transformative initiative for Sierra Leone’s higher education sector, has instead become a cautionary tale of inadequate due diligence and oversight. The University’s administration, including the Vice-Chancellor, has since been attempting to recover the lost funds, but these efforts have been met with silence from Femab Properties, leaving the institution with little recourse.

The scandal has sparked outrage among stakeholders and the public, particularly in light of revelations that the University attempted to keep the matter under wraps. The financial loss only came to light through investigative probes, further damaging the institution’s credibility and raising concerns about transparency and accountability in its financial dealings.

This episode has cast a long shadow over the University of Sierra Leone, highlighting critical flaws in its governance structures. It has also prompted calls for a thorough review of the institution’s financial management practices to prevent future mishaps. The loss of $4.5 million not only undermines the University’s financial stability but also its reputation as a leading educational institution in the country.

As the University grapples with the fallout, there are growing demands for accountability and stronger safeguards in future partnerships to protect public funds and restore trust in the institution’s leadership. The Bureh Town campus project, once a symbol of hope for the expansion of higher education in Sierra Leone, now serves as a stark reminder of the consequences of poor oversight and rushed financial decisions.