Sign in
Download Opera News App



College Education


Technical Universities blow over GHS 400 million due to the negligence of Financial Officials

The Auditor General, Mr. Johnson Akuamoah Asiedu has sited in his report that the State has lost a total of GHS 447 million financial irregularities have occurred from 2015 to 2019 within all the Technical Universities in the country.

According to him, these losses occurred due to the failure of the Heads of Finance in the various universities failing to perform their duties accurately by thoroughly checking through all transactions and documents that passed through their hands. 

The Auditor General's report went on to explain that these financial irregularities were seen in the contracts, loans acquired, taxes, procurement breaches, amongst others. 

On procurement, it stated that a total of GHS 49 million was lost. Talking about contract irregularities, the total for all amount lost throughout the ten was GHS 105 million. On loans, it recorded over GHS 8 million that were not paid back, and many others monies lost it stated categorically in the detailed report that was released not long ago. 

Mr. Asiedu has advised all the institutions to do the needful to make sure that they retrieve all of these monies and going forward, they should make sure that the Financial Administrators in the various schools must do their checks thoroughly to prevent such mishaps.

He went on to explain that, if it requires bringing in the law enforcement agencies to assist them in investigating, rectifying all contracts, and retrieving the loans, they can do so. 

 Also, they should make sure that all taxes that are needed to be taken for the State are deducted correctly from source and on time.

Content created and supplied by: AduanaBa (via Opera News )

GHS Heads of Finance Johnson Akuamoah Asiedu


Load app to read more comments