News
Recover GH¢ 1.7m locked up funds – Auditor-General directs NEDCo
Mr. Johnson Akuamoah Asiedu
Mr. Johnson Akuamoah Asiedu
The Auditor-General has directed the management of the Northern Electricity Distribution Company (NEDCo) to recover GH¢1.7 million locked up at the Tisuugtaaba Community Bank and the GN Bank Limited, both collapsed.
The money was revenue collected for the company, which was expected to be deposited into the Power Sales and Security Deposit accounts at GCB at the end of every month, in accordance with the policy of NEDCo but was rather lodged at the Tisuugtaaba Community Bank Ltd and GN Bank Ltd.
“We recommend that management should take the necessary steps to recover the locked-up funds without delays,” the Auditor-General stated in his 2020 audit report of public boards and corporations.
The report also recommended that a principal accounts clerk at the Yendi office of NEDCo, Mr Gilbert Buree, refund GH¢302,571.86 with interest at the Bank of Ghana prevailing rate.
According to the Auditor-General’s report, a review of the internal audit of NEDCo for 2019 disclosed that Mr Buree did not lodge into the bank account, cash of GH¢302,571.86 as of January 30 2019.
The 2020 audit report also revealed that 43,884 post-paid customers of NEDCo, who were transferred onto the Prepaid Meters (PPM), had a total outstanding debt of GH¢28.52 million as of December 31 2019.
“We recommend that management should develop an installment payment plan for the customers and deduct it at source whenever the customers purchase credit at the sales outlets,” the audit report stated.
Checks
Although the report does not contain responses from NEDCo, Daily Graphic checks indicate that the lodgement was done with the approval of management.
Due to armed robbery attacks and other risks associated with carrying bulk cash over long distances, NEDCo developed a system to operate collection points only at where formalised banking institutions operated.
The company, therefore, settled on the two regulated institutions, GN Bank and Tisuugtaaba Community Bank Ltd, which received the collections and transferred them after a month into NEDCo’s account at GCB.
The system operated well until the two banks faced challenges, leading to their collapse, a source at the company, who is not authorised to speak on the issue, told the Daily Graphic.
It said NEDCo operated good books and invested well, stressing “we’ve not even done any investment that has gone bad.”
Goods and services
The audit report also revealed that the Volta River Authority (VRA) advanced more than GH¢43.3 million for prepayments of goods and services which were not retired as of December 31 2019.
“We recommend that the advances and prepayment for goods and services must be monitored to ensure that they are properly and fully accounted for immediately, failing which the Principal Spending Officer be held liable for any unaccounted advances,” the report stated.
According to the report, an amount of GH¢131,302 paid by the authority to 71 officers as salary advances had not been recovered.
Source:Daily graphics
News
Bnoskka Speaks On AfCFTA Basic Creative Business & IP Implications At Ghana Expo 2024, Tanzania
The African Continental Free Trade Area (AfCFTA) through its National AfCFTA Coordination Office (NCO) and in-collaboration with the Tanzania Ministry of Trade and Industry held a Ghana Expo 2024 Tanzania at the Mlimani City Conference Centre from January 24-28, 2024.
Benjamin Oduro Arhin Jnr whose pseudonym is “BNOSKKA” a popular arm in the Cultural and Creative Industries (CCIs) circles and on showbiz and other entertainment business platforms, represented for Ghana at the expo.
Bnoskka, is a Creative Arts Business and Intellectual Property Consultant, who also doubles as a Lecturer at the University of Education, Winneba – Ghana. He is a member of the following organizations: Musicians Union of Ghana (MUSIGA), International Society for Music Education (ISME), Ghana Arts Teachers Association (GATA) and Music in Africa. He has worked with the Copyright Office of Ghana, with experience in creative arts business, arts and culture, music business, copyright and a coach for career and entrepreneurial skills and youth mentorship programs.
He has appeared on several newspapers, national television and radio programs across West Africa.
Bnoskka who was a panel member spoke on the AfCFTA policy on the Creative Economy for trade and service industries to benefit all the member countries under the AfCFTA’s agreements.
Bnoskka spoke on the basics of business startups and the laws governing registration in Tanzania and Ghana, copyright, trademark, intellectual property rights in business ideas and business registration processes that young entrepreneurs should be aware in order to meets the AfCFTA requirements to facilitate their business activities across Africa.
Bnoskka’s presentation was centred on basic business practices and legal requirements and how one can implement the foundation of their business to avoid intellectually property infringements and offenses. Also, he spoke on how to protect your creative business ideas, unfair competition and disclosure of investment information from competitors.
The Ghana Expo 2024 Tanzania was officially opened by the Tanzanian Minister of Industry and Trade, Mr. Ashatu Kijaji and NCO Director Dr. Fareed Arthur, Ghana Ministry of Foreign Affairs and Regional Integration, Director Mr. Abu Osuman, Ghana Ministry of Trade and Industry, Chief Commercial Officer Mr Kofi Addo, NCO Snr Advisor Stakeholder Engagement Mr. Jacob Gyamfi-Aidoo.
There were over 150 exhibitors from Tanzania and Ghana with products ranging from Textiles, Garments, Fabrics, Cosmetics, Commerce, Digital Media, Relics and Artwork, Tanzania Women Chamber of Commerce, Tanzania Chamber of Commerce Trade Industry and Agriculture, DSTV Tanzania, Multichioce, Ghana Shippers Authority, Tanzania Bureau of Standards, Ghana Revenue Authority, CDEA Tanzania, shipping and Logistics, Cocoa Products from Ghana, Black Soap, Shea-butter, Alcoholic and Nonalcoholic Beverages, Free Zones Authority, Ecobank Tanzania, Tanzania Revenue Authority, The World Bank, Ghana Investment Promotion Centre, Tanzania Trade Development Authority, Ghana Culture Forum, Fibre, Ceramic and Fire Extinguish Companies, etc.
Provisional figures from the Ghana Statistical Service puts Ghana’s current population at 30.8 million.
This forms part of the outcome of the 2021 Population and Housing Census, which started in June.
According to Government Statistician, Prof Samuel Kobina Annim, this represents a 6.1 million increase from the 24.7 million recorded during the last count in 2010.
The gender demography also revealed that 50.7% of the national figure are females while males make up 49.3%.
Ghana’s population now 30.8 million – Statistical Service
Speaking to stakeholders in Accra during the announcement, the Statistician described the 2.1% growth rate recorded as the slowest since independence.
Per the 2021 PHC computations, “Ghana’s population has grown five-fold over the past seven decades,” Prof Annim said on Wednesday, September 22.
Greater Accra remains the most populated area with 5.4 million people, compared to the 4 million recorded in 2010. It is followed by the Ashanti Region’s 5.4 million from 4.8 million recorded during the last count.
The Ahafo Region, however, has the smallest population with 600,000 people.
Meanwhile, the final results of the 2021 PHC are expected to be announced in November 2021.
But the Statistical Service believes that certified figures in the day will not vary significantly from what has been revealed on Wednesday.
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