Citizens Petitions PAC to Probe GHC52.5 Billion Withdrawal: Auditor-General Summoned for Cl
The Public Accounts Committee (PAC) of Parliament has been formally petitioned by a chartered accountant, Mike Kofi Afflu, urging the committee to summon the Auditor-General for a comprehensive explanation regarding the withdrawal of GHC52.5 billion from the government’s account at GCB Bank in the year 2020.
Afflu, in a letter addressed to the Chairman of the PAC, articulated his concerns about the transaction, citing the lack of clarity surrounding the movement of this substantial sum. His initial efforts to gain insights from the Managing Director of GCB Bank yielded no satisfactory answers. Since his initial inquiry in 2020, the MD has evaded explanation, leaving unanswered questions about the transfer of the funds to an undisclosed account. The destination of the funds, the authority behind the transfer, the recipient of the transaction, and the ultimate purpose of the withdrawal all remain shrouded in obscurity.
In a poignant excerpt from his correspondence, Afflu highlighted,
“Mr Chairman, the USD/GHS average rate for October 2020 was 5.77522. The amount of GH¢52.5 billion was, therefore, equivalent to US$9,090,783. If this GH52.5 billion (originating from the GRA Account) had adhered to the legal mandate by being transferred to the Bank of Ghana, Ghana’s recourse to the International Monetary Fund (IMF) for a $3 billion bailout might have been averted.”
In light of these concerns, the petitioner is urging the PAC to take the proactive step of summoning the Auditor-General to shed light on the situation. Afflu contends that this inquiry is not only pivotal for the committee’s own understanding but also crucial for ensuring transparency and accountability to the entirety of the country.
“We earnestly seek clarity on who authorized the withdrawal of this substantial amount from GCB Bank Plc and the specific purpose for which it was intended. I hold the utmost conviction that your esteemed Committee will undertake a diligent examination of this petition,”
he conveyed in his letter.
Confirming the receipt of the petition, James Klutse Avedzi, Chairman of the PAC, affirmed the commitment of the committee to thoroughly examine the matter. The petition resonates with the fundamental principles of fiscal responsibility and the imperative of safeguarding the proper utilization of public funds. As the PAC delves into this issue, it underscores the essence of parliamentary oversight in promoting transparency and upholding the public interest.