Public Interest Accountability Committee

News

PARLIAMENT APPROVES PIAC REPORT
8th August 2019

The report, among others is to provide oversight and monitoring of the management of the petroleum revenues. Dr Mark Assibey-Yeboah, Chairman of the Finance Committee who presented the committee’s report noted that the statement satisfied...

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PIAC INDICTS GOV’T OF MISAPPROPRIATING $700M OIL MONEY
24th July 2019

The Public Interest and Accountability Committee (PIAC) has accused the government misappropriating some US$700million from the oil stabilisation fund. The oversight group noted the reckless action of government has breached Section 9(2) of the...

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OIL HERITAGE FUND ACCUMULATES ABOUT US$ 500 MILLION - PIAC
15th July 2019

Ghana’s oil revenue inflow into the Heritage Fund has reached US$485,172,436.04 as at 2018, seven years after the country commenced commercial production of crude oil. The nation’s Petroleum Revenue Management Act (PRMA) 2011, set the...

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NO OIL CASH ALLOCATED TO INFRASTRUCTURE FUND – PIAC
15th July 2019

Despite realising over US$977million from a record volume of crude oil production in 2018, there was no allocation to the Ghana Infrastructure Investment Fund (GIIF) – contrary to provisions of the Petroleum Revenue Management Law. The...

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OVER GHC3 MILLION DUASE WAREHOUSING PROJECTS DEFECTIVE
15th July 2019

A four-warehouse project, rehabilitated at the cost of a little over GH?3 million at Duase in the Manhyia North district of the Ashanti Region and just handed over to the state, has been classified as having several defects less than five months...

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FINANCE MINISTRY 'COMPELLED GNPC TO EXPUNGE $50M LOAN FROM BOOKS’ – PIAC REPORT
28th June 2019

The Ministry of Finance has been cited for compelling Ghana National Petroleum Corporation (GNPC) to cancel a $50 million indebtedness to the Corporation. The money was withheld by the Finance Ministry in 2014 by the previous government and is...

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