Friday, May 27, 2022

PIAC pursues prosecution of public officials who mismanage petroleum revenues

Must Read

Black Stars To Commence Training At Cape Coast Stadium Saturday, May 28

By Helga Goka The Black Stars of Ghana will commence preparations for the 2023...

Nsawam-Adoagyiri MP unhappy with Rt. Hon. Bagbin’s decision to block €75m COVID-19 loan agreement

By: Franklin ASARE-DONKOH The Majority Caucus in Ghana’s Parliament has described, as unfortunate, the...

3rd edition Senior High Schools’ renewable energy challenge launched

By Mabel Annang To help promote the use of renewable energy, the Ministry of...
The Public Interest and Accountability Committee, PIAC, is to submit five cases on misappropriation and abuse of petroleum revenues to the Economic and Organised Crime Office, EOCO, for further investigation and prosecution.
The Committee’s lawyers are currently finalising the docket for submission within two weeks.
The Chairman of PIAC, Dr. Steve Manteaw said this at a public forum on the management of petroleum revenues in Tema.
The forum forms part of PIAC’s nationwide public engagements on utilisation of petroleum proceeds. He stated that some of the infractions are criminal while others are administrative injustices and lapses.

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

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

Black Stars To Commence Training At Cape Coast Stadium Saturday, May 28

By Helga Goka The Black Stars of Ghana will commence preparations for the 2023...

Nsawam-Adoagyiri MP unhappy with Rt. Hon. Bagbin’s decision to block €75m COVID-19 loan agreement

By: Franklin ASARE-DONKOH The Majority Caucus in Ghana’s Parliament has described, as unfortunate, the directive from the Speaker for...

3rd edition Senior High Schools’ renewable energy challenge launched

By Mabel Annang To help promote the use of renewable energy, the Ministry of Energy intends distributing three million...

Speaker Bagbin bares teeth at Majority Leader, others… warn them not ‘counter his ruling or what I say again’

By: Franklin ASARE-DONKOH The Speaker of Parliament, Rt. Hon. Alban Sumana Kingsford Bagbin today took some Members of Parliament...

Kwame Nkrumah Memorial Park to be closed down for renovation

There will be a temporary closure of the Kwame Nkrumah Memorial Park with effect from Friday, 27th of May, 2022 for major...

More Articles Like This