A Ghanaian citizen and a fellow of the Institute of Chartered Accounts, Ghana (ICA-Ghana), Mike Kofi Afflu, is demanding answers regarding the transfer of some GH¢52.5 billion by the audit service to an unknown account.
In a petition to the Public Accounts Committee (PAC) Chair, James Klutse Avedzi, he said the Auditor – General in a letter dated October 5, 2020 to the Managing Director of GCB Bank Plc., the Auditor – General, demanded the Bank to explain why an amount of GH¢52.5 billion was transferred from the Bank into an Unknown Account.
“Since then, the Auditor-General has not provided any explanation to the Ghanaian,” he said. He, thus, has called on PAC to ensure that the funds are accounted for.
Justifying his call for accountability, Mr Afflu who is also the Former President for the Chartered Institute of Taxation Ghana, noted that: “Mr. Chairman, the USD GHS average rate for October 2020 was 5.77522. The amount of Gh(52.5 million was therefore equivalent to US$9,090,783 (i.e. $9.1 billion).
“Mr Chairman, if this Gh¢52.5 billion (from GRA Account) had been transferred to the Bank of Ghana as mandated by Law, Ghana would not have gone to the International Monetary Fund (IMF) for the bailout of $3 billion,” he added.
“I am therefore requesting the Public Accounts Committee of Parliament of which you are the Chairman, to invite the Auditor-General of Ghana to provide the necessary explanation to your committee and Ghanaians as a whole. We want to know who withdrew that amount of money from the GCB Bank Plc and for what. I am confident that your Committee will do a thorough job on this Petition please,” he said.
Meanwhile, the Audit-Service and the Public Accounts Committee are yet to respond to the allegation.