PAC needs BoG Governor to clarify audit report issues – Chairman

Mr Kwaku Agyeman Manu, Chairman of the Public Accounts Committee, has requested the presence of the Governor of the Bank of Ghana (BoG) to clarify issues in the Auditor General’s report.

Speaking on Friday when members of PAC interrogated some officials of the BoG, who were led by Mr Seth Terkpeh, the Minister of Finance, Mr Manu questioned why the Governor did not come in person.

The Governor was said to be on ECOWAS official duty outside the country.

The Committee later accepted to examine the report with the help of the Minister of Finance.

Issues on loan without validation in 2011 were raised by Mr Dery Edward Kaale-Ewola, member for Lambussie/Karni to which Mr Felix Adu, Chief Internal Auditor said there was a memorandum of understanding, which showed there was an agreement.

He, however, noted that there was a temporary halt and the bank was still trying to reengineer the agreement as discussion was going on.

Mr Adu said interest was being paid on the facility noting that the debtor, Ghana Commercial Bank had not denied owing the central bank.

Mr Seth Terkpeh assured the Committee that the bank would come out with the specifics as to the issues raised.

Source: GNA