Officials of Ghana Cocoa Board (COCOBOD), led by the deputy Chief
Executive Officer in charge of Finance and Administration, William
Mensah, were once again put on the spot by members of the Public
Accounts Committee (PAC) yesterday when they appeared before the
committee for the second time to answer queries on some portions of the
board audited accounts.
COCOBOD claimed that an amount of GHS17.7m was disbursed to an affiliate agency, Cocoa Marketing Company (CMC), but there were questions about the whereabouts of the money, as there were no documents to support the transfer.
The committee members raised serious concerns over the transfer of GHS17.7m by the COCOBOD to the Cocoa Marketing Company as assistance to its allied company for some development projects, since the Accountant-General’s audited report said it could not trace any document covering such a transfer.
The deputy CEO said indeed COCOBOD did release that amount as assistance to CMC, but the refusal of COCOBOD to show documents covering the money heightened suspicion amongst the committee members.
COCOBOD claimed that an amount of GHS17.7m was disbursed to an affiliate agency, Cocoa Marketing Company (CMC), but there were questions about the whereabouts of the money, as there were no documents to support the transfer.
The committee members raised serious concerns over the transfer of GHS17.7m by the COCOBOD to the Cocoa Marketing Company as assistance to its allied company for some development projects, since the Accountant-General’s audited report said it could not trace any document covering such a transfer.
The deputy CEO said indeed COCOBOD did release that amount as assistance to CMC, but the refusal of COCOBOD to show documents covering the money heightened suspicion amongst the committee members.
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