In a statement released on September 30, the company maintained that while it had indeed purchased iPhones, the total expenditure, after taxes were settled, amounted to approximately GHS 280,000.
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BOST clarifies iPhone purchase costs amid media reports
The Bulk Oil Storage and Transportation Limited (BOST) has moved to dispel recent media reports suggesting that the company spent slightly over GHS 28 million on iPhones for its corporate executive members.
BOST clarifies amount paid for iPhones bought for company executives
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The statement by the Oil Company refuted the earlier reports and provided context for the procurement of the iPhones.
BOST stated that the acquisition of the devices was intended to equip its team with the tools necessary to stay connected with the management information and business intelligence systems of the company. This, they argue, would enable efficient decision-making within the organization.
According to BOST, the procurement in question involved the purchase of eighteen (18) iPhone 13 Pro Max phones for corporate executives in May 2022. The total cost of these phones was GHS 234,000, which, after accounting for taxes, amounted to GHS 285,412.16.
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The discrepancy between the reported amount and the actual expenditure, as explained by BOST, is attributed to a typographical error in the report.
The statement clarified that the error occurred due to the accidental placement of the decimal point two positions to the right, thereby converting GHS 285,412.61 into GHS 28,541,261.00.
The statement from BOST underscores the importance of accurate reporting and the need for transparency in public and corporate finances. It seeks to set the record straight regarding the procurement of iPhones and reaffirms the company's commitment to efficient operations and responsible financial management.
As BOST clarifies its position on the iPhone purchases, the incident serves as a reminder of the significance of precision and accuracy in financial reporting, especially in the public eye.
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