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Alex Mould GNPC denies ‘slush fund’ allegation

African Centre for Energy Policy (ACEP)  last month said it fears GNPC has become a slush fund for government after the auditor general made financial irregularities against it.

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Chief Executive Officer of Ghana National Petroleum Commission (GNPC) Alex Mould has refuted claims of being a “slush fund” for government. play

Alex Mould,Chief Executive Officer of Ghana National Petroleum Commission (GNPC).

Chief Executive Officer of Ghana National Petroleum Commission (GNPC) Alex Mould has refuted claims of being a “slush fund” for government.

READ MORE:GNPC challenged to prove it has not become slush fund for government

African Centre for Energy Policy (ACEP)  last month said it fears GNPC has become a slush fund for government after the auditor general made financial irregularities against it.

ACEP executive director, Dr. Mohammed Amin Adam, said it was "worried about such financial irregularities" and that it "bordered on our fear that GNPC has become a slush fund for the government."

"The GNPC has greater responsibility to prove that it has not become a slush fund for the government as other transactions by the corporations point to that," he said.

However, Mould told the Business and Financial Times Wednesday that the money owned the corporation were given for infrastructure projects related to gas delivery.

 “On the Atuabo Gas processing plant, for example, we financed the construction of a pipeline and also spent additional funds in constructing access roads to enable the evacuation of LPG to serve Ghanaian consumers.  The agreement is that we will be reimbursed,” Mould said.

“The amount was therefore not advanced to government as a slush fund. It’s specifically given to construct the roads and pipelines that were critical for supplying gas for electricity generation, and supplying LPG to Ghanaian consumers,” he added.

READ MORE:Probe financial capacity of GNPC - ACEP

The 2014 audit report said GNPC advanced US$50 million to the Ministry of Finance in 2013, which was expected to be repaid in three months but it was not paid back.

But Mould said the US$50 captured by auditor general’s report as money owned the corporation was advanced for spending on the aforesaid gas infrastructure projects.”

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