The awful irony is that corruption has completely gotten out of hand at the same time as the Akufo-Addo government is starting IMF bailout negotiations.
The most recent Auditor General report for 2021 is depressing to read. It shows that from the GHS12.8 billion in financial irregularities recorded in 2020 to a heartbreaking GHS17.4 billion, they have become worse.
In this era of severe cost of living crisis, officials have deceitfully managed to create more loopholes by some additional GHS5billion in a free-for-all pillage rather than preventing the tremendous hemorrhage so we may improve our economic conditions.
Instructively, the Electricity Company of Ghana alone awarded illegal sole sourcing contracts totaling an explosive GHS221.15 million without getting PPA permission. Adu Ofori Atta Enterprise, Adiepena 67 Enterprise, Cota-Q Enterprise, MasterMind B Venture, Kudirash Ghana Limited, Engineering and More, Nel Service Limited, and Bentry Company Limited are just a few of the incredibly intriguing names of the recipient companies.
Although Finance Minister Ken Ofori-Atta omitted to mention the COVID-19 National Trust Fund in his COVID-19 expenditure statement to Parliament two weeks ago, we now know GHS67,907,330.33 was received in the form of donations from private individuals and corporate organizations. This information is made available thanks to the Auditor General.
It is also important to note that the auditors have asked the COVID-19 Private Sector Fund to refund GHS254,203.00.
The 746 pages were very traumatic to read. No amount of IMF bailout money will be able to save us if we don’t immediately, honestly, and forcefully address and overcome corruption and intentional leaks in public financial management.
Reading the 746 pages was quite upsetting. If we don’t deal with and defeat corruption and deliberate leaks in public financial management right away, honestly, and forcibly, no amount of IMF bailout money will be able to help us.