Ghana’s Public Accounts Committee (PAC) has issued a sharp rebuke to the Controller and Accountant General’s Department (CAGD) for its failure to recover a staggering GH¢61 billion in state funds that remain locked up with various companies and state institutions across the country. This criticism arose during a recent parliamentary session that scrutinized the 2023 Auditor-General’s report on the public accounts of Ghana, focusing particularly on public boards, corporations, and other statutory bodies.
Inadequate Recovery and PAC’s Concerns
The Auditor-General’s report revealed that only GH¢46 million of the GH¢61 billion owed to the state has been successfully retrieved, leaving a vast majority of the funds uncollected. The PAC expressed grave concerns over this shortfall, questioning the efficiency of the CAGD in managing and recovering public funds.
The committee highlighted the urgent need for the CAGD to implement a more robust tracking system to ensure that all financial transfers are accurately recorded and easily traceable. The Auditor-General recommended such a system to aid in the effective recovery of outstanding debts and to prevent further financial losses that could strain Ghana’s public finances.
CAGD’s Response and Government Oversight
During the session, Acting Controller and Accountant General, Mr. Kwasi Adjei, acknowledged the department’s shortcomings in recovering the outstanding funds. He emphasized that the CAGD operates under the Ministry of Finance, providing critical public financial management services to both the government and the public. Mr. Adjei also mentioned the formation of a joint committee between the CAGD and the Ministry of Finance, which is tasked with overseeing the recovery of unrecovered debts.
The PAC, however, remained unconvinced, pressing for more immediate and effective actions to ensure that public funds are secured and utilized as intended. The committee underscored the importance of accountability in public financial management, particularly in a period of economic challenges where every cedi counts.
Broader Financial Management Issues
In related proceedings, the PAC also questioned other governmental bodies regarding their financial management practices. The Minister of Youth and Sports, Mustapha Yussif, appeared before the committee alongside officers from the National Youth Authority and the National Sports Authority to address queries raised by the Auditor-General. These queries focused on the management of funds within their respective institutions and the need for greater financial discipline.
Additionally, the Ghana Water Company Limited came under scrutiny, with Deputy Minister of Sanitation and Water Resources, Aminu Issahaku Chinnia, representing the company. The PAC raised concerns about the financial operations of the company, highlighting the broader issue of financial mismanagement across various state institutions.
The ongoing PAC sessions reflect a growing demand for transparency and accountability in how public funds are managed across all sectors of government. The uncollected GH¢61 billion serves as a stark reminder of the inefficiencies that can arise when financial oversight is lacking. As the PAC continues its work, there is a clear expectation that the CAGD, along with other government agencies, will take more decisive actions to recover these funds and prevent similar issues from arising in the future.
Source: Graphic Online
