The latest Auditor-General’s report on public boards, corporations, and other statutory institutions has revealed that cash irregularities across sectors surged to GH¢4.6 billion in 2024.
This marks an over 580-fold increase compared to the GH¢7.9 million recorded in 2023.
The report attributes the sharp rise primarily 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 was found to have withheld approximately GH¢70.9 million in taxes due to the Ghana Revenue Authority (GRA), further compounding its financial management issues.
According to the Auditor-General, cash irregularities include payments made without proper supporting documentation, unaccounted revenues, and repeated financial violations.
The report blamed the anomalies on poor oversight, weak internal controls, and widespread non-compliance with the Public Financial Management Act.
It further cited ineffective supervision and persistent managerial inaction as major contributors to the financial breaches, noting that many of the infractions were linked to missing or unsecured financial records and an entrenched culture of impunity.
In total, financial irregularities identified across public sector institutions in 2024 amounted to GH¢18.4 billion, with cash infractions accounting for roughly a quarter of the total.
The report also highlighted the weak enforcement of accountability measures, noting that no significant sanctions or prosecutions have been announced in response to previous audit breaches.
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