Public Interest Accountability Committee

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FINANCE MINISTRY FAILS TO ACCOUNT FOR ABFA FOR 3RD TIME – PIAC
24th June 2020

The Ministry of Finance has for the third consecutive year failed to account for unutilised Annual Budget Funding Amount (ABFA) of oil revenues,the Public Interest and Accountability Committee (PIAC) has disclosed. In its 2019 annual report on...

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LOOPHOLES IN REVENUE MANAGEMENT REMAIN LARGE – PIAC REPORT
24th June 2020

The management of petroleum revenues remains flawed with numerous challenges, ranging from lack of transparency in utilisation of funds and a deviation in the core mandate of the Ghana National Petroleum Corporation’s (GNPC), among others, 10...

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NEW PIAC REPORT REVEALS MAJOR MIS-USE OF PETROLEUM REVENUES
24th June 2020

The latest annual report of the Public Interest and Accountability Committee – the statutory body established to monitor petroleum sector revenues and expenditures – covering 2019 has revealed major legal infractions with regards to how...

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PIAC RAISES CONCERNS OVER GH¢1.5BN OIL CASH
24th June 2020

The Public Interest and Accountability Committee (PIAC), which monitors and evaluates the management and use of petroleum revenues, is asking Parliament to compel the central government to account for about GH¢1.5bn of oil revenue which was...

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OIL PRODUCTION INCREASED BY 15 PERCENT IN 2019
23rd June 2020

A total of 71.4 million (71,439,585) barrels of oil were obtained from the three producing fields – Jubilee, Sankofa Gye Nyame (SGN) and Tweneboa Enyera Ntomme (TEN) in 2019. The total oil production in 2019 exceeded that of 2018 by 15...

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PIAC URGES PARLIAMENT TO ENSURE FINANCE MINISTRY ACCOUNTS FOR $1.5 BILLION PETROLEUM FUND
23rd June 2020

The Public Interest and Accountability Committee (PIAC), an independent statutory body, has urged Parliament to ensure that the Ministry of Finance accounts for the $1.5 billion unutilized Annual Budget Funding Amount (ABFA). In its key findings...

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