Ken Ofori-Atta
THE AUDIT Service says an audit exercise which it is undertaking on some Customs receipts made at the GCB Limited, was directed by the Minister of Finance.
In a statement issued recently in Accra and signed by George Swanzy Winful, Deputy Auditor General, noted, “Our attention has been drawn to a publication on social media in connection with our letter No.EID/B. Line /AUD/207 issued on the October 5, 2020 concerning our audit observation on transfer of tax receipts by GCB to unknown sources amounting to GH₵52.5 billion.”
“While we appreciate the public’s interest in these audits, we wish to place on record that the audit in reference is a special audit exercise which was requested by the Honorable Minister of Finance, Ken Ofori Atta, in a letter dated August 15, 2020, based on the mandate of the President under Article 187(8),” it said.
The Audit Service said the request from the Finance Minister included the confirmation of the transfer of receipts from the various transit accounts maintained by the commercial banks into the respective BoG holding accounts from 2015 to date. It also involves providing assurance that all CCVRs of Customs, dating back from 2015 to date, have been duly credited to the authorized bank accounts within the specified periods, and also to investigate and confirm that all transfers and debits in all government accounts were duly approved by the Controller and Accountant General and the Ministry of Finance from 2015 to date.
“Please be informed that our letter in circulation is one of the letters which we issued to participating commercial banks for their responses to infractions noted during our reconciliation of their statement. With the assistance of both the commercial banks and Bank of Ghana, we have been able to trace with satisfaction, some of the transfers. The cooperation from the participating banks is encouraging and we are hoping to complete the reconciliation exercise soon.
“In accordance with Article 187 of 1992 Constitution, we intend surcharging any participating commercial bank who defaults in transferring tax receipts collected from the various transit accounts into the respective BoG holding account. Once again, we wish to assure the general public that, as usual, we shall submit the audit to Parliament when the exercise is completed,” it indicated.
GCB’s Response
However, GCB, in a statement issued from its Corporate Affairs Department in Accra, has indicated that the claims by the Audit Service were not true.
“GCB Limited has noted with grave concern the publication of a doctored letter dated October 5, 2020, purportedly emanating from the Ghana Audit Service (GAS) in respect to funds transferred.
“The said letter currently circulating on social media with the caption ‘Audit Service Reports of GH¢2.5 billion transferred from GCB to unknown sources’ alleges that a total amount of GH¢2.5 billion was transferred from GCB’s accounts to unidentified sources. This is false and mischievously designed to discredit the bank,” the bank highlighted.
“We hereby deny the allegation that GCB has effected unauthorized transfers. We further assure all our stakeholders that GCB, as a bank of international reputed, conducts its activities in line with sound banking principles. The bank will not engage in any activity that will erode the trust and confidence the public has reposed in us over the years,” it stated.
BY Samuel Boadi