Two leading accountability watchdogs, the Budget Advocacy Network (BAN) and the National Social Accountability Public Financial Management (NSA-PFM) consortium, have sounded the alarm over what they describe as a “blatant breach” of the Public Financial Management Act 2016.
The concern follows revelations that 44 public institutions failed to submit their 2025 financial statements within the legally mandated timeframe. According to the Act, all public bodies are required to prepare and submit annual financial reports to ensure transparency, accountability, and effective oversight of public funds.
BAN and NSA-PFM warned that the failure undermines fiscal discipline and erodes public trust in governance. In a joint statement, the groups emphasized that the timely submission of financial statements is not optional but a statutory obligation designed to safeguard Sierra Leone’s public resources.
“This is a clear violation of the Public Financial Management Act 2016 and sets a dangerous precedent for financial accountability in the country,” the statement read.
The watchdogs urged the Ministry of Finance and the Auditor General’s office to take immediate corrective action, including sanctions against defaulting institutions. They also called on Parliament to exercise stronger oversight to prevent recurrence.
Civil society groups have echoed the concerns, noting that lapses in financial reporting could mask inefficiencies, mismanagement, or even corruption. Analysts warn that without strict enforcement, Sierra Leone risks weakening its fiscal credibility both domestically and with international partners.
The incident has reignited debate over the effectiveness of existing accountability mechanisms and whether reforms are needed to strengthen compliance with the Public Financial Management Act. The Budget Advocacy Network (BAN) report identified 44 public entities in Sierra Leone that breached the Public Financial Management Act 2016 by failing to submit their 2025 financial statements. Key ministries, departments, and agencies named include the Sierra Leone Roads Authority, National Public Procurement Authority, National Tourist Board, Sierra Leone Housing Corporation, National Investment Board, and the Sierra Leone Road Safety Authority