Management of Ghana National Gas Company has rejected allegations of wrongdoing surrounding recent changes to its insurance contracts, insisting the process was carried out lawfully and in line with established procedures.
In a statement issued on Monday, April 13, Head of Corporate Affairs Richard Ernest Kirk-Mensah said the company had not engaged in any improper conduct.
“The Company wishes to categorically assure the general public that no wrongdoing has occurred,” he stated, adding that the new insurance arrangements are “entirely lawful and represent an enhanced risk management strategy to safeguard the Company’s assets.”
The clarification follows media reports questioning the transition from the company’s previous lead insurer to a new provider. Although the statement did not name the insurers involved, management explained that the change was triggered by the routine expiry of existing contracts at the end of their term.
According to Ghana Gas, all procurement processes relating to the new arrangements were duly approved by the necessary authorities, including the Public Procurement Authority and supported by authorisations from the Ministry of Finance.
Mr Kirk-Mensah reaffirmed the company’s commitment to transparency and accountability, noting that internal systems are regularly reviewed and strengthened where necessary to ensure compliance and effective risk management.
“As is standard practice for any robust organisation, the Company will continue to review and strengthen its internal processes when necessary,” he said.
The development comes amid growing public scrutiny of procurement practices within Ghana’s energy sector, with increasing calls for stronger oversight of state-owned enterprises.
Ghana National Gas Company, a key player in the country’s energy value chain, processes and transports natural gas for power generation and industrial use. Despite the controversy, the company says its core mandate remains unchanged.
It added that it remains fully focused on delivering gas efficiently and reliably to meet the country’s energy needs.
While no timeline has been provided for any independent investigation into the allegations, the Board has reiterated its commitment to stakeholders and pledged continued adherence to strong corporate governance standards.