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Staff of 3 state institutions to be prosecuted for misappropriating Covid funds
The Director-General of the Internal Audit Agency (IAA), Dr Eric Oduro Osae, has revealed that staff of three state institutions will soon be prosecuted for misappropriating Covid-19 funds.
According to him, the Agency is collaborating with the Economic and Organised Crime Office (EOCO) to fast track the processes for the prosecution.
Dr Oduro Osae was speaking at the Ghana Anti-Corruption Coalition public forum on the accountability gap in Covid-19 responses of Ghana.
He said in 2021, they started receiving internal audit reports from the internal auditors as far as the Covid-19 expenditure audit is concerned.
“We started reviewing them in 2021 and some of the expenditure areas were revealing. Areas where we have challenges we do a follow up. A team is sent to the field to go and validate.
“Those we think have criminal consequences, we would work with EOCO to prosecute them. I’m not allowed to indicate what we are doing or the level of prosecution but I can assure you that at the moment, we are working with EOCO to prosecute three institutions,” he disclosed.
He added that the IAA has already set up an audit report review panel to audit all Covid-19 spending.
“As far as the Internal Audit Agency is concerned, we continued to pursue and establish how total Covid-19 expenditure were spent and whether we are getting value for money.”
“The challenge with Covid-19 expenditure is that it is bothered by service delivery which we use financial audit. This won’t aid in us getting the needed results; we need a performance audit,” he stated.
Meanwhile, the Chairman of Parliament’s Public Accounts Committee, James Klutse Avedzi, said the House will continue to look into the infractions of COVID-19 expenditure and those found guilty recommended for prosecution.
According to him, persons involved in the misappropriation of the funds will not be spared.
“There is always a gap of a year or two between the time the report is issued and the time the Public Account Committee discussed the report. Covid-19 expenditure is something we did not plan for and in pandemic of this nature it’s an opportunity for some people to enrich themselves so it will be good to look into it and take it as a project to ensure that people don’t abuse the system”, he revealed.
The Minority in Parliament has filed a Private Member’s motion for an inquiry into the expenditure made by the government during the Covid-19 period.
The Minority Leader, Haruna Iddrisu; the Minority Chief Whip, Mohammed Mubarak Muntaka and Minority Spokesperson on Finance, Cassiel Ato Forson filed a motion to Alban Bagbin, asking for a bipartisan probe into the ¢8.1 billion expenditure by government.
That motion was admitted.
However, the First Deputy Speaker, who subsequently presided over proceedings in the House in the Speaker’s absence, dismissed the motion.
Currently, the Minority is readying to challenge the dismissal of their motion.
Explaining the Majority’s stance against the motion, Deputy Majority Leader, Alexander Afenyo-Markin, stated that the auditing of the Covid expenditure should be left to the appropriate state agencies to deal with.
On Wednesday, February 23, Speaker Alban Bagbin expressed dissatisfaction with his deputy, Joesph Osei-Owusu, for dismissing the motion and described the act as illegal and unconstitutional.
Source: www.myjoyonline.com
The Global Network of Export-Import Banks and Development Finance Institutions (G-NEXID) successfully held its sixth (6th) Exchange Programme, hosted by the Ghana Export – Import Bank (GEXIM) Bank in Accra from March 22 to 23 March.
The event brought together member institutions, partner organisations and Ghanaian public entities to advance dialogue on South-South trade, investment and development finance, while also creating opportunities for knowledge-sharing and institutional cooperation.
Organised as a capacity-building and networking platform, the 2026 edition of the G-NEXID Exchange focused on GEXIM’s experience in developing innovative solutions to promote intra-African and extra-African trade.
It also highlighted trade and investment opportunities in Ghana, particularly in the context of the African Continental Free Trade Area (AfCFTA) and broader national development initiatives.
The Exchange Programme forms part of G-NEXID’s mandate to foster cooperation among export-import banks and development finance institutions in support of South-South trade and investment.
This 6th edition follows earlier successful programmes hosted by India Exim Bank (2016), BNDES (2017), Indonesia Eximbank (2018), Afreximbank (2019) and Saudi EXIM Bank (2025).
On the first day, participants were presented with G-NEXID institutional information and received an update on the Network’s 2026 work programme.
There were a series of substantive presentations, including an overview of the Ghanaian economy by the Ministry of Finance, with particular attention to debt-related challenges; a presentation by the Ghana Investment Promotion Centre (GIPC), on investment opportunities in the country; and institutional presentations by GEXIM and Development Bank Ghana (DBG) on their respective mandates, initiatives, products and services.
Discussions during the sessions underscored strong interest in sector-focused webinars and business dialogues, particularly in agribusiness value chains such as poultry and rice.
Participants also emphasized the importance of continued information exchange and the sharing of best practices, especially in the area of guarantees.
The second day opened with a presentation on the 24-Hour Economy and Accelerated Export Development Programme, a national economic transformation strategy launched by President John Dramani Mahama in July 2025.
The initiative aims to enhance economic productivity through continuous industrial activity, accelerated export development and strategic import substitution.
As the programme is expected to mobilise both private and development capital, it presents concrete opportunities for G-NEXID members in areas such as co-financing, guarantees, trade finance and technical cooperation.
The programme also featured institutional presentations by guest organisations, namely the African Guarantee and Economic Cooperation Fund (FAGACE) and the West African Development Bank (BOAD), which shared their mandates, initiatives, products and services.
Following these exchanges, the G-NEXID Secretariat held bilateral discussions with both institutions as part of the Network’s ongoing membership drive.
Participants further benefited from a presentation by the Eastern and Southern African Trade and Development Bank (TDB), as well as a showcase of GEXIM’s key pipeline projects.
On the margins of the Exchange Programme, G-NEXID members also held their 20th Annual General Assembly Meeting to review progress and discuss strategic priorities.
Following the event, participants joined the GEXIM@10 International Conference, held from March 24-25, 2026 under the theme, “A Decade of Enabling Export Trade and Industrial Transformation: Resetting GEXIM for the Next Frontier.”
The conference provided an important platform for exploring how Ghana can strengthen its transition from a primary commodity exporter to a more competitive player in value-added trade and industrial development.
Source – G-NEXID
President John Dramani Mahama on Tuesday, March 31, 2026, signed five bills including three amendment bills passed by Parliament into law.
They are: Security and Intelligence Agencies Bill, 2025; University of Engineering and Agricultural Sciences Bill, 2025; Ghana Deposit Protection (Amendment) Bill, 2025; Growth and Sustainability Levy (Amendment) Bill, 2026; and Education Regulatory Bodies (Amendment) Bill, 2026.
In a brief remark after assenting to the bills, President Mahama explained that the Security and Intelligence Agencies Act, 2026, scraps the Office of Minister of National Security and frees the President’s to appoint any Minister to supervise the security agencies.
He said it also reverses the name of the office of National Intelligence Bureau (NIB), to the original name, Bureau of National Intelligence, (BNI).
This the President said, addresses the confusion between that security agency and a well-known Ghanaian financial institution, the National Investment Bank.
President Mahama also noted that the University of Engineering and Agricultural Sciences Act, 2026, establishes another University in the Eastern Region, at Bonsu, with three campuses – the main campus at Bonsu in the Eastern Region, with the second campus to be cited at Ohawu in the Oti Region.
The third, the Presdient assed will be located at Acherensua in the Ahafo Region.
Touching on the Amendment to the Growth and Sustainability Levy Act, the President said, “As you’re aware, the act was amended to increase it from 1% to 3%, and so this act reduces it again. That is the levy on mining companies. It reduces it again to 1%, because of the introduction of the sliding scale of royalties.”
He also spoke to the passage of the Government Education Regulatory Bodies Amendment Act, emphasising that amends Act 1023 to grant greater flexibility to private tertiary institutions and the option to Charter.
The Ghana Deposit Protection Amendment Act, the President concluded, is an amendment to an original act that was supposed to guarantee deposits held in commercial banks or financial institutions.
It basically expands protection to include mobile money wallets and other digital platforms, ensuring a wider scope of digital financial assets are secured.
The signing ceremony, was witnessed by the Clerk of Parliament, Mr. Ebenezer Ahumah Djietror, Secretary to the President, Dr Callistus Mahama, the Minister of Justice and Attorney General, Dr Dominic Akrutinga Ayine, Chief of Staff, Julius Debrah, Joyce Bawa Mogtari, a Senior Presidential Advisor and a Special Aide to the President, Finance Minister, Dr Cassiel Ato Baah Forson, and the Vice President, Professor Jane Naana Opoku Agyemang.
