Public Sector Cash Irregularities Surge to GHS 4.6bn in 2024, Marking Over 580-Fold Jump
Cash irregularities involving Ghana’s public boards, corporations and statutory institutions surged to GH¢4.6 billion in 2024, representing a more than 580-fold increase from the GH¢7.9 million recorded in 2023.
The disturbing development, contained in the latest Auditor-General’s Report on Public Boards, Corporations and Other Statutory Institutions, attributes the spike largely to the Electricity Company of Ghana (ECG), which under-declared revenue by GH¢2.95 billion and failed to disburse GH¢1.29 billion owed to State-Owned Enterprises (SOEs) and Independent Power Producers (IPPs).
Additionally, ECG is said to have withheld some GH¢70.9 million in taxes due the Ghana Revenue Authority (GRA), further compounding its financial management challenges.
Cash irregularities, as defined by the Auditor-General, include payments made without adequate supporting documentation, unaccounted revenues, and repeated violations. The report blamed the anomalies on poor oversight, weak internal controls, and non-compliance with provisions of the Public Financial Management Act.
The report cited ineffective supervision and persistent managerial inaction as key contributors to the financial breaches, adding that many of the infractions stemmed from missing or insecure financial records and an entrenched culture of impunity.
Total financial irregularities identified across public sector entities in 2024 stood at GH¢18.4 billion, with cash infractions accounting for a quarter of the amount.
Despite the scale of the findings, the report notes that enforcement of accountability measures remains weak, with no major sanctions or prosecutions announced in response to previous audit infractions.
The Auditor-General has consequently renewed calls for stronger internal controls, improved financial oversight, and full enforcement of accountability laws to safeguard public funds.
