PIAC signed a memorandum of understanding with EOCO to assist in the investigation and prosecution of institutions and people who go contrary to the dictates of the Petroleum Revenue Management Act.
PIAC has no prosecutorial powers hence, the partnership with EOCO.
Ghana received a total of 4.97 billion dollars as oil revenue from 2011 to 2018 but it is difficult to cite legacy projects that the money has been used to finance.
It is to ensure the judicious use of the petroleum revenues that PIAC is embarking on the prosecution exercise to ensure effective accountability of revenues and deter public officials from mismanaging the petroleum revenues.
The Committee also has issues with non-judicious use of funds, value for money, unaccounted for allocations under the annual budget funding amount, using petroleum revenues to tackle too many national problems at the same time and small allocation to the agricultural sector.
Story By: Dominic Hlordzi