The Parliamentary Oversight Committee on Finance, chaired by Hon. Keikura C. Vandy, recently held a series of familiarization meetings with the Ministry of Finance and various financial institutions under its purview.
In his opening remarks, Hon. Vandy welcomed representatives from the Ministry, Departments, and Agencies (MDAs), encouraging them to express themselves openly when engaging with Parliament. He emphasized the importance of synergy and collaboration, noting that Parliament always works in the interest of the nation.
“Please discuss with Parliament whenever you have challenges that require parliamentary intervention,” he said.
The Chairman explained that the meetings were intended to strengthen relationships with financial institutions to improve performance. He reminded officials that Parliament is a partner in development and stressed the need for prudent economic management. Hon. Vandy further highlighted the importance of mobilizing revenue for the state, urging the Ministry of Finance to “up their game.” He also emphasized that businesses must repatriate at least 30% of their proceeds after exports and pay the required taxes to the state.
During the session, Minister of Finance Sheku Fatamandi Bangura expressed appreciation for the engagement, noting that such a meeting had never been held between his ministry and the Committee. He underscored the importance of parliamentary oversight in holding government accountable and reported that Sierra Leone ended 2025 with a relatively stable economy, recording an inflation rate of 4.3%. He assured the Committee that the government is committed to innovative approaches to mobilize resources and maintain fiscal discipline.
Opposition Whip Hon. Abdul Karim Kamara raised questions regarding the compliance of financial agreements signed between the government and external parties. Other committee members echoed concerns about revenue generation, efficiency, and compliance, stressing the need for improved implementation across financial sectors.
On Thursday, 19 February 2026, the Committee engaged officials from the National Revenue Authority (NRA), Sierra Leone Insurance Commission (SLICOM), and the Sierra Leone Financial Intelligence Agency. These institutions reaffirmed their commitment to transparency, accountability, and improved revenue mobilization.
The following day, Friday, 20 February 2026, the Committee met with the top management of the Bank of Sierra Leone to discuss critical issues related to economic growth.
Through these engagements, Parliament’s Finance Committee has reinforced its oversight role, ensuring that financial institutions remain accountable while working collaboratively to strengthen Sierra Leone’s economic performance.