The bamahut Makefiles install all programs and configuration files directly into the $prefix directory, and ircd is coded expecting to be able to find its configuration file in the same directory where the program is located.
This doesn't fit the Filesystem Hierarchy Standard: programs should go in $prefix/bin; server programs should go in $prefix/sbin; configuration files should go into $prefix/etc (and since bahamut installs some config files with generic names like reference.conf and template.conf that could conflict with other projects, I'd suggest a subdirectory of $prefix/etc like $prefix/etc/bahamut).
The bamahut Makefiles install all programs and configuration files directly into the $prefix directory, and ircd is coded expecting to be able to find its configuration file in the same directory where the program is located.
This doesn't fit the Filesystem Hierarchy Standard: programs should go in $prefix/bin; server programs should go in $prefix/sbin; configuration files should go into $prefix/etc (and since bahamut installs some config files with generic names like reference.conf and template.conf that could conflict with other projects, I'd suggest a subdirectory of $prefix/etc like $prefix/etc/bahamut).