"Auditor-General Reveals $145 Million Procurement Breach by ECG"

" Auditor-General Reveals $145 Million Procurement Breach by ECG \r\n\r\nThe Electricity Company of Ghana (ECG) has come under scrutiny after the Auditor-General Johnson Akuamoah Asiedu, revealed extensive breaches of the Public Procurement Act in the company's meter procurement processes.\r\n\r\nThe AG notes that expenditures exceeding $145 million were not in compliance with legal procurement guidelines.\r\n\r\n Significant Findings \r\n\r\nThe Auditor-General disclosed that ECG signed 50 contracts for the procurement of 862,750 meters and accessories, amounting to $145,010,153.92, without adhering to the Public Procurement Act.\r\n\r\nThis period under review spanned from 2016 to 2021 and included audits conducted between August and December 2022 at various ECG locations, including the headquarters and several regional and district offices.\r\n\r\n Financial Oversights \r\n\r\nIn addition to procurement violations, the ECG failed to recover GH\u00a253.9 million identified through internal monitoring efforts.\r\n\r\nWith the AG further asserting that that the company did not pursue legal action against customers involved in electricity theft, missing an opportunity to deter such activities and recover lost revenues.\r\n\r\n Recommendations for Compliance \r\n\r\nThe Auditor-General Johnson Akuamoah Asiedu, in a letter to the Speaker of Parliament dated June 2, 2023, urged the ECG to ensure full compliance with the Public Procurement Act in all future procurement activities.\r\n\r\nThe Auditor-General stressed the importance of adherence to legal standards to prevent financial mismanagement and safeguard public resources.\r\n\r\nThe findings have raised significant concerns about governance and financial oversight at the ECG, calling for immediate remedial actions to address the lapses and enhance accountability within the organization."

"Auditor-General Reveals $145 Million Procurement Breach by ECG"

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