A forensic audit of the finances of some state institutions reveals that over GH¢800 million has been allegedly misappropriated, with traces leading to officials in the former administration
According to reports, the audit was initiated following suspicion that there was widespread financial malfeasance under the erstwhile John Mahama-led administration.
Eighteen state institutions were marked to be audited but the audit committee probed the activities of 16 companies, six of which have been completed and reports submitted to the Economic and Organised Crimes Office (EOCO).
The six state institutions whose audited report have been forwarded to EOCO include Ghana National Gas Company (GNGC), Bulk Oil Storage and Transportation Company (BOST), Micro and Small Loans Centre (MASLOC), Ghana Free Zones Board, Ghana Standards Authority (GSA) and Ghana Telecom University College (GTUC).
At BOST, a total of GH¢285,561,245 were misappropriated.
Credit: Joy News