Pulse Business Wrap Cash of GH¢80,906.23 embezzled in SHS

The cash embezzlement occurred at four institutions during the year 2014 which involved unauthorized insertions on cheques to withdraw cash from school accounts, manipulation of official receipts to conceal fees collected and outright dissipation of cash withdrawals, according to the auditor general's report released in 2016.

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Senior high schools have been accused of embezzling GH¢80,906.23 in revenue in suspected fraud.

The cash embezzlement occurred at four institutions during the year 2014 which involved unauthorized insertions on cheques to withdraw cash from school accounts, manipulation of official receipts to conceal fees collected and outright dissipation of cash withdrawals, according to the auditor general's report released in 2016.

According to the auditor general, the fraud occurred because the heads and accountants of the schools did not exercise effective supervision over cash receipting and banking duties.

48 companies battle for ECG

Fifteen more companies have tendered in their bids for a concessional partnership with the Electricity Company of Ghana, in addition to the 33 who already  tendered in a bid in 2015.

This brings up to 42 the total number of companies battling for to take over some essential parts of ECG's operations.

We go to the currency market now where

Currency                      Buying                         Selling

Dollar                            3.84                             4.14

Pound Sterling             5.46                              5.76

Euro                             4.31                            4.61

 

On how your stocks performed on the GSE Index today

Standard Chartered Bank Ghana Ltd were the biggest losers of the day, dropping 2p to close the day at 16.18p. There were no gainers for the day.

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