President Akufo-Addo has directed the Director-General of the State Interest and Governance Authority (SIGA) to, within four weeks, investigate the causes of the infractions and malfeasance raised in the 2021 Auditor-General’s report.
Mr. Edward Boateng is expected to also recommend actions to be taken in line with laws governing such misconduct.
A total of ¢17.4 billion in financial irregularities were flagged by the Auditor-General in its latest report submitted to Parliament for the 2021 financial year.
This represents a 36% rise compared to that of 2020. At a meeting with Chief Executive Officers of State-Owned Enterprises, President Akufo-Addo described the development as unfortunate and demonstrates poor management and supervision of state assets.
“Further, I expect you to prioritise the payment of dividends something virtually all of you have not been doing.
"I am directing the Director-General of SIGA to work with the Auditor-General to drill down the causes of the infractions, identify the persons responsible and make the necessary recommendations as prescribed by law. I have given them four weeks from now to submit a report to the Chief of Staff.
“I will continue to advocate for good corporate governance practices in our specified entities where boards effectively oversee and direct management. Boards must desist from interfering in day to day management of their respective specified entity and making unwarranted demands of their management,” the President said.
The President also charged the CEOs to change the poor narrative surrounding the management of public institutions stressing that despite investments made in the entities, loss-making continues to define them.
“I appointed you as leaders of these specified entities with a strong belief that you will ensure a positive change in the narrative of loss-making entities and build value for the people of Ghana. That has not happened so I expect more from you.
“I want to see a marked improvement in these reports next year. Things have to change…we are not in normal times and people are eager to blame somebody, let us not make it easy for people to blame us. We can defend and be excused for what is humanly beyond our control but for those that fall under our purview of responsibility and capacity, let us do our best.”
Latest Stories
-
All set for Joy FM Prayer Summit for Peace 2024
1 min -
Managing Prediabetes with the Help of a Dietitian
21 mins -
Joy FM listeners criticise Achiase Commanding Officer’s election comment
41 mins -
Legal Aid Commission employees threaten strike over poor working conditions
44 mins -
Ghana ranked 7th globally as biggest beneficiary of World Bank funding
53 mins -
IMF board to disburse $360m to Ghana in December after third review
58 mins -
Former Bono Regional NPP organiser donates 13 motorbikes to 12 constituencies
1 hour -
Securities industry: Assets under management estimated at GH¢81.7bn in quarter 3, 2024
1 hour -
Gold Fields Ghana Foundation challenges graduates to maximise benefits of community apprenticeship programme
3 hours -
GBC accuses Deputy Information Minister Sylvester Tetteh of demolishing its bungalow illegally
3 hours -
Boost for education as government commissions 80 projects
3 hours -
NAPO commissions library to honour Atta-Mills’ memory
3 hours -
OmniBSIC Bank champions health and wellness with thriving community walk
3 hours -
Kora Wearables unveils Neo: The Ultimate Smartwatch for Ghana’s tech-savvy and health-conscious users
3 hours -
NDC supports Dampare’s ‘no guns at polling stations’ directive
3 hours