An audit conducted by KPMG into the revenue mobilization transaction between the Ghana Revenue Authority (GRA) and Strategic Mobilization Ghana Ltd (SML) has unveiled that the latter received a total of GH¢1,061,054,778.00 from 2018 to the present date.
The revelation surfaced in a press statement issued by the Communications Director of the Presidency, Eugene Arhin, on Wednesday, April 24.
President Akufo-Addo commissioned KPMG to audit the contract between the two entities on January 2, 2024.
The audit’s deadline was initially set for Tuesday, January 16, 2024, but was extended to Friday, February 23, 2024.
As the deadline approached, many Ghanaians urged the president to release the report’s findings to the public.
According to the April 24 press statement from the Presidency, “the total fees paid under the contracts from 2018 to the date of suspension amount to GH¢1,061,054,778.00. No fee has been paid for the upstream petroleum audit and minerals audit services.”
Furthermore, it mentioned that “the total fees estimated to be paid to SML under the 2023 Contract for five years is GH¢5,173,091,857.00, which averages to about GH¢1 billion per year.”
After a comprehensive examination of the audit report, the president supported the recommendation to terminate the upstream petroleum and minerals audit services previously rendered to the Ghana Revenue Authority (GRA) by Strategic Management Limited (SML).
Additionally, he instructed the Ghana Revenue Authority (GRA) and the Ministry of Finance to renegotiate the contract.