A committee has been established to recover a staggering GH¢61 billion of state funds locked up with various companies and institutions across the country, according to the Controller and Accountant General, Kwasi Adjei.
The move follows alarming revelations in the Auditor General’s report, which highlighted the massive sum owed to the state, raising concerns about the financial management of public funds.
Of the total amount, GH¢57 million is attributed to different metropolitan, municipal, and district assemblies, while state-owned enterprises are responsible for a significant GH¢5.6 billion.
Speaking before the Public Accounts Committee of Parliament, Mr. Adjei disclosed that the committee comprises officers from the Department of the Accountant General (DAG) and the Ministry of Finance, tasked with identifying and pursuing the defaulting companies.
Mr. Adjei assured the committee that efforts would be made to recover funds from solvent companies, while those that are insolvent would be recommended for a write-off by the Ministry of Finance and Parliament.
“Some of them are insolvent and don’t exist, but we will go after those that are still solvent and make sure that we recover this amount,” he emphasized, highlighting the government’s resolve to reclaim the lost state funds.
