Freetown, 12th January 2026- A 2024 audit of the Ministry of Fisheries and Marine Resources has revealed significant lapses in revenue collection and compliance, with more than US$198,814 in outstanding licence fees, fines, and royalty payments left unresolved.
Auditors reported that Allantaco Fishing Company’s vessel Jianmei had accumulated US$93,900 in unpaid licence fees and US$3,500 in fines after being arrested for illegal fishing within the inshore exclusion zone (IEZ). Despite recommendations for recovery, there was no evidence that the Ministry had taken concrete steps to collect the US$97,400 owed.
Instead, officials disclosed that cabinet approval had been sought to waive all arrears owed to the Ministry, including those by Allantaco. However, auditors noted that no documentation of this approval was submitted for verification, leaving the issue unresolved.
The audit further identified irregularities in the calculation of licence fees and royalties, contrary to the Finance Act 2020. These inconsistencies resulted in a US$101,414 shortfall, comprising US$76,094 in licence fees and US$25,320 in royalties.
The Ministry explained that fishing companies testing new or refurbished vessels were required to pay for only one month’s licence and royalty, rather than receiving free test licences. Officials argued this arrangement did not result in financial loss. However, auditors stressed that the practice violated the Finance Act, which requires industrial fishing companies to licence for a minimum of three months.
The combined unresolved arrears and inconsistencies highlight a potential loss of nearly US$200,000 in government revenue, raising concerns about fiscal discipline in a sector critical to Sierra Leone’s economy.
Auditors recommended that the Permanent Secretary and Acting Director of Fisheries take immediate steps to recover the outstanding sums and ensure full compliance with the Finance Act. They warned that failure to enforce payment obligations undermines government revenue mobilization and weakens confidence in regulatory oversight.
The Ministry has pledged to comply with the Finance Act going forward, but with key issues still unresolved, questions remain about accountability and the effectiveness of revenue management in the fisheries sector.
