The Public Accounts Committee (PAC) of Parliament has been petitioned by a chartered accountant to invite the Auditor-General to explain, how a GHC52.5 billion was withdrawn from the government’s account at GCB Bank in 2020.
Mike Kofi Afflu, the accountant, in his letter to the Chairman of the PAC stated that he had earlier requested for clarity on the transaction from the Managing Director of the GCB Bank. But since putting in the request in 2020, the bank’s MD has refused to explain why the money was deposited in an unknown account.
Till date, where the money was transferred to, who authorised the transfer, the account it was transferred to and who the recipient is, are still unknown.
READ ALSO: Auditor-General reveals how 22 assemblies spent GHC2.4m to collect GHC1.3m revenue
Portions of his letter stated that, “Mr Chairman, the USD/GHS average rate for Oc tober 2020 was 5.77522. The amount of GH¢52.5 billion was, therefore, equivalent to US$9,090,783. 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.”
The petitioner therefore wants the Auditor-General to be invited by the Public Accounts Committee to provide answers on the transaction to the Committee and the entire country.
“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 in his letter.
READ ALSO: Bank of Ghana spends GH¢358 million to restructure government debt in 2022 – Annual Report
A Graphic Online publication has, meanwhile, confirmed that the Chairman of the PAC, James Klutse Avedzi, has received the petition.
Attached below is a copy of the petition
Dear Sir,
PETITION FOR INVESTIGATION INTO THE AMOUNT OF GH¢52.5 BILLION TRANSFER FROM GCB BANK PLC.
I am writing this petition as a Citizen of Ghana.
In a letter dated 5th October, 2020 from the Audit Service 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 Taxpayer to explain:
1. Where the money was transferred to
2. Who authorized that amount to be transferred by the bank?
3. Into what account was the money transferred
4. Details of the recipient account and any related issues
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
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.
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.
Thank you.
READ ALSO: Akufo-Addo signs economic, defence pacts with Rebelo de Sousa as Ghana-Portugal strengthen ties
