• Latest
  • Trending
A-G report reveals how GNPC entered US$34m contract without approval

A-G report reveals how GNPC entered US$34m contract without approval

August 12, 2021
Demystifying Derivatives: Yield enhancement through equity and credit-linked solutions (Part 1)

Demystifying Derivatives: Yield enhancement through equity and credit-linked solutions (Part 1)

November 9, 2026
Black Sherif’s first Telecel Project X live on TikTok draws over 200,000 fans

Black Sherif’s first Telecel Project X live on TikTok draws over 200,000 fans

November 9, 2026
Telecel Ghana closes care and wellbeing month with ‘fusion’ – a day of team bonding, healthy competition and fitness

Telecel Ghana closes care and wellbeing month with ‘fusion’ – a day of team bonding, healthy competition and fitness

November 9, 2026
The World Is Sitting On A Powder Keg: A Warning To The Political Class

The World Is Sitting On A Powder Keg: A Warning To The Political Class

November 9, 2026
‘Food connects us beyond borders’ — Marie Bolac on building African cultural ties

‘Food connects us beyond borders’ — Marie Bolac on building African cultural ties

November 9, 2026
West African food traditions reveal deep cultural ties — Chef Abbys

West African food traditions reveal deep cultural ties — Chef Abbys

November 9, 2026
Telecel Ghana Foundation expands homecoming to support over 500 patients nationwide

Telecel Ghana Foundation expands homecoming to support over 500 patients nationwide

November 6, 2026
Land Buyers Beware – Teacher Mante Chief Cautions Against Land Sales by Real Estate Companies

Land Buyers Beware – Teacher Mante Chief Cautions Against Land Sales by Real Estate Companies

November 6, 2026
Barima Agyei Okodeɛ Koranteng

Teacher Mante Lands: Chief Calls on President Mahama, IGP to Intervene

November 6, 2026
‘Don’t just sell in Ghana, manufacture here for Africa’ — Brogya Genfi to Korean investors

‘Don’t just sell in Ghana, manufacture here for Africa’ — Brogya Genfi to Korean investors

November 5, 2026
Building Institutions That Last: Phuthuma Nhleko to deliver special address at BGS 2026

Building Institutions That Last: Phuthuma Nhleko to deliver special address at BGS 2026

November 5, 2026
Korea’s industrialisation journey offers valuable lessons for Ghana, says Brogya Genfi

Korea’s industrialisation journey offers valuable lessons for Ghana, says Brogya Genfi

November 5, 2026
Happy Ghana
No Result
View All Result
  • Home
  • News
  • Sports
    • International Sports
    • Afcon2017
    • Afcon2019
    • Corporate Knockout
    • U17 World Cup
    • World Cup 2018
  • Entertainment
  • Business
  • Bizarre
  • Feature
  • More
    • Technology
    • Opinion
    • Lifestyle
  • Listen Live
  • Home
  • News
  • Sports
    • International Sports
    • Afcon2017
    • Afcon2019
    • Corporate Knockout
    • U17 World Cup
    • World Cup 2018
  • Entertainment
  • Business
  • Bizarre
  • Feature
  • More
    • Technology
    • Opinion
    • Lifestyle
  • Listen Live
No Result
View All Result
Happy Ghana
No Result
View All Result
Home Sports

A-G report reveals how GNPC entered US$34m contract without approval

in Sports
A-G report reveals how GNPC entered US$34m contract without approval

A-G report reveals how GNPC entered US$34m contract without approval

Share on FacebookShare on TwitterShare on Whatsapp

The Management of the Ghana National Petroleum Corporation (GNPC) according to the Auditor-General’s report on the public accounts of Ghana, public boards, corporations and other statutory institutions for the period ended 31 December 2020 has entered into some significant foreign contracts without the necessary parliamentary approval.

READ MORE: KNUST SRC President sends message to gov’t on International Youth Day

According to the A-G, the government should punish the Management of GNPC for breaching the public procurement law.

ADVERTISEMENT

“Contrary to the above provisions, we noted from the sampled records reviewed that the Ghana National Petroleum Corporation (GNPC) signed and awarded five (5) international business contracts to five foreign suppliers or contractors using Single-Source method in four of those transactions and in one instance used the Restricted Tendering method without seeking for the necessary Parliamentary approvals. The five contracts totalled US$34,165,235.15, and £464,963.13.

READ MORE: A-G Report: Public boards, other statutory institutions blow ¢12.85 billion on irregularities

“This practice has the tendency of not allowing the intentions of the promulgators of the law (1992 Constitution) inure to the benefit of the State. It also denies the Lawmakers the opportunity to make inputs towards such transactions. Thus, the absence of the above could plunge GNPC into paying for higher contract sums and possible judgment debts,” the report said.

It added: “We recommended that Management of GNPC should be sanctioned in accordance with Section 92 of the Public Procurement Act 2003, (Act 663) as amended for breaching the Public Procurement Law”.

READ MORE: ’Sika Nu Aba’: Dubai Sheikh refunds Sputnik V vaccines scandal money to gov’t

Despite attempts by the Management of GNPC to explain the breaches, the Auditor General maintained its audit recommendation should still stand.

“Management explained that the products involved in the transactions in question were all proprietary products that needed to be procured from the Original Equipment Manufacturer (OEM). Further, Management stated that it sought and obtained PPA’s approval for those transactions and that the items involved were captured in the approved annual budget of the corporation which was approved by Parliament, as well as its approved procurement plans for the respective periods.

READ MORE: Dr. Bawumia needs a refresher course in Economics – Ricketts-Hagan

“The said budgets were not made available for our review, more so, from our audit point of view, Parliamentary approval of the Corporation’s budget does not imply approval for international business contracts since the budget does not indicate the procurement method to use neither does it indicate the vendors to deal with.

“We reiterated our audit recommendation as stated above”.

Subscribe to receive notification everytime a new post is published. We promise to be discrete.

Unsubscribe
Previous Post

Ghana Police Service Fulfils Promise: CID Boss forms Investigative Team to look into match-fixing allegation

Next Post

Hearts of Oak to know of CAF Champions League prelimis opponent on Friday

Next Post
OFFICIAL: Egypt to host AFCON 2019

Hearts of Oak to know of CAF Champions League prelimis opponent on Friday

Search

No Result
View All Result

Listen Live

Happy Kaseɛbɔ 600AM news bulletin
Happy Kaseɛbɔ 600AM news bulletin

BBC Match of the Day Africa

ADVERTISEMENT
Happy Ghana

Recent News

  • Demystifying Derivatives: Yield enhancement through equity and credit-linked solutions (Part 1)
  • Black Sherif’s first Telecel Project X live on TikTok draws over 200,000 fans
  • Telecel Ghana closes care and wellbeing month with ‘fusion’ – a day of team bonding, healthy competition and fitness
  • About
  • advertise
  • Privacy Policy
  • Contact Us

© 2025 Happy FM – Powered by Ghana’s leading radio network. Designed with passion by Global Media Alliance.

No Result
View All Result
  • Home
  • News
  • Sports
    • International Sports
    • Afcon2017
    • Afcon2019
    • Corporate Knockout
    • U17 World Cup
    • World Cup 2018
  • Entertainment
  • Business
  • Bizarre
  • Feature
  • More
    • Technology
    • Opinion
    • Lifestyle
  • Listen Live

© 2025 Happy FM – Powered by Ghana’s leading radio network. Designed with passion by Global Media Alliance.