6 state institutions misappropriate GH¢800 million

A forensic audit of the finances of some state institutions has revealed that some 6 state institutions have misappropriated over GH¢800 million.

In a document intercepted by Accra-based Joy FM, the investigation started after suspicion that there was widespread financial malfeasance under the erstwhile John Mahama-led administration.

Even though 18 state institutions were to be audited, 16 of them were investigated. 6 of the reports have been completed and the reports have been submitted to the Economic and Organised Crimes Office (EOCO).

The findings of the audit include the alleged breach of provisions of the Public Procurement Act by inflating contract sums, non-performance of contracts and non-enforcement and breach of contracts.

The six state institutions whose audited report have been forwarded to EOCO include Ghana National Gas Company (GNGC), Bulk Oil Storage and Transportation Company (BOST), Micro and Small Loans Centre (MASLOC), Ghana Free Zones Board, Ghana Standards Authority and Ghana Telecom University College (GTUC).

Findings

At BOST, a total of GH¢285,561,245 were misappropriated.

The report revealed that Kingsley Awuah-Darko, the former BOST MD, misappropriated GH¢10,498,456 and $33,305,527.

Below are snapshots of the report detailing the alleged financial malfeasance.