Headlines

Ghana has Lost GH¢17.4 Billion to Corruption – Auditor-General’s

Published

3 months ago

July 8, 2022

According to the 2021 Auditor-report, the General’s various financial violations and irregularities by state entities cost Ghana GH17.4 billion.

According to the A-report, G’s, that amounts to over GHS5 billion more than the GHS12.8 billion lost to the same violations in 2020.

Samuel Okudzeto Ablakwa, a North Tongu MP, lamented this situation and said:

The awful irony is that corruption is now completely out of control even as the Akufo-Addo government starts IMF loan negotiations. According to the most recent 2021 Auditor-General report, financial irregularities have escalated from the GHS12.8 billion documented in 2020 to a heartbreaking GHS17.4 billion, he continued.

In this moment of severe cost-of-living crises, Mr. Ablakwa said: “Instead of stopping the tremendous hemorrhage so we can improve our economic conditions, officials have dishonestly managed to create more loopholes by some additional GHS5 billion in a free-for-all plundering. Instructively, the Electricity Company of Ghana alone awarded GHS221.15 million in illegal single-sourcing contracts without PPA permission.

Adu Ofori Atta Enterprise, Adiepena 67 Enterprise, Cota-Q Enterprise, MasterMind B Venture, Kudirash Ghana Limited, Engineering and More, Nel Service Limited, and Bentry Company Limited are just a few of the incredibly intriguing names of the recipient companies.

“Despite the fact that Finance Minister Ken Ofori-Atta omitted to mention the COVID-19 National Trust Fund in his COVID-19 expenditure statement to Parliament two weeks ago, we now know GHS67,907,330.33 was received in the form of donations from private individuals and corporate organizations, thanks to the Auditor-General,” the speaker said. It is also important to note that the auditors have asked the COVID-19 Private Sector Fund to refund GHS254,203.00.

“The 746 pages were such a traumatic read. No amount of an IMF bailout will be enough to save us if we don’t immediately, honestly, and aggressively address and overcome corruption and intentional leaks in public financial management.