Parliaments Public Accounts Committee Discover Public Institutions Chopped Ghc2.1bn Of Our Money In 2010/2011

The Auditor General report for 2010/11 showed that Ghc 2.1bn has been used by several public institutions in the wrong way, leading to the nation incurring huge losses.1 min


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Ghana's Parliament

These kinds of excesses are what leads to the untold suffering and hardship being inflicted on Ghanaians- because all the money is spent in the wrong way.

The Public Accounts Committee of Parliament presented a report to the house, based on the report of the Auditor General for 2010/11. The report showed that Ghc 2.1bn has been used by several public institutions in the wrong way, leading to the nation incurring huge losses.

The report was focused on public boards, corporations, and other statutory institutions, and found the main offenders to be the the Ghana Cocoa Board (COCOBOD), the Social Security and National Insurance Trust (SSNIT), Electricity Company of Ghana (ECG), National Petroleum Authority (NPA) and the Ghana Trade Fair Company (GTFC).

The report showed COCOBOD had not paid dividends since 2003/2004, despite making huge profits each year. They claimed the money was being used to construct ‘cocoa roads’ in the country.

SSNIT was indicted for making bad investments, whilst the Ghana Trade Fair Company was ballooning the costs of repairs and maintenance to line their pockets. In all, the cost of malfeasance to the taxpayer is Gh2.1bn.

Parliament has in response summoned the institutions, ordering them to submit a report on their implementations of the recommendations made in the Auditor General’s report. As to what would come out of that, nobody has the faintest idea.


Nii Smiley Byte
My friends call me Moonbyte, my Mum named me Godwin. I am the Managing Editor of GhanaCelebrities.Com, Founding editor of Innonews24.Com and a fixer for foreign journalists working in Ghana. I have three strong passions in life -- football, blogging and music -- in that order. I love spending time with friends talking about the important things in life and hate nothing more than 'authority' and hypocrisy fueled by dogma. My personal motto is that you can do everything you set your mind to, which I stole from my favourite person of all time Eminem. For writing or fixing gigs, contact [email protected]

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