Thursday, May 10, 2018

PAC Asks Koforidua Technical University To Deactivate Bank Accounts

11:38:00 AM

The Zone Four public hearings of the Public Accounts Committee (PAC), has begun in Ho with a directive to the Koforidua Technical University to deactivate some bank accounts.

This is because the University was operating the accounts without approval from the Controller and Accountant General.

The Committee Chaired by Mr James Klutse Avedzi, Deputy Minority Leader in Parliament, is looking into the Auditor Generals reports on the Various Local Assemblies and Educational Institutions in the Volta and Eastern Regions for the year ending 2015/2016.

A "Faculty of Health and Allied Sciences" account, which had the Vice Chancellor, Dean of Faculty and Directors of Finance as signatories had been operating with the Agricultural Development Bank without the consent of the Controller and Accountant General.

The University was also operating four other fixed deposit accounts with different financial institutions.

Mr Samuel Atta Mills, a member of the Committee, said such acts must not be condoned as they inspired others who had access to funds to operate separate bank accounts at will.

Other issues captured in the report included the adoption of new accounting software without the approval of regulators, and the engagement of a lecturer with a fake Masters Degree for nine years.

A total of GHC 201, 065.92 was paid as emoluments over the period to the lecturer who later rose to the position of Dean of Faculty of Business and Management Studies.

Management of the Ho Technical University also appeared before the Committee to acknowledgement for an amount of GHC81,332 in staff loans, and the payment of GHC300,000 to a contractor working on a GETFUND project, all from its Internally Generated Funds.

The week-long sitting would also engage heads of the various Assemblies and Pre - University Educational Institutions in the two regions.

By Ghana Leaks Blog

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