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GNPC buys $7.5m property from CEO’s former company

  • SOURCE: Joy | Joy FM
  • Documents available to Joy FM indicate the Chief Executive of Ghana National Petroleum Corporation (GNPC) ordered an urgent transfer of $7.5 million to a company he once worked for last year.

    The amount was for a six-block residential apartment purchased from Global Haulage Company Limited. It was for Dr KK Sarpong, who once acted as the company’s Chief Executive.

    Dr. Sarpong ordered the “urgent” transfer of the funds to the Global Haulage Company Limited in a memo obtained by Joy FM.

    In the memo dated December 29, 2017, the GNPC CEO directed the Chief Finance Officer to make a payment of $7.5 million to Global Haulage Company Limited without delay.

    The memo

    “I can confirm that we have executed the underlying sale and purchase agreement with the seller. The documents are in the custody of our legal officer, Ms Ama Awuah Kyeremateng who unfortunately is presently out of town to give them to support the payment

    “I am by this memo authorising you to effect the payment to Global Haulage Company Limited, the vendor instantly as per their invoice attached.”

    “Suffice it to note that a thorough post audit of the transaction can be done once full office work resumes on 8th January, 2018.”

    The property, according to the documents, is located at Chapel Hills in Takoradi  and comes with ancillary properties.

    The CEO, in the memo, also stated that he takes full responsibility for the transaction that was carried out in December of last year.

    The finance officer wired the funds to the accounts of Global Haulage Company that same day.

    Furthermore, on January 3, 2018, a second payment of $2 million was made to the same company to bring the total payment advanced for the same six-block residential property to $9.5million.

    Meanwhile, Dr Sarpong stated Tuesday on Joy FM’s Super Morning Show that the property has indeed been purchased, but explained that the property has between 18 to 21 buildings in a gated community and not six blocks as stated in the memo.

    Profile photo of Joy FM

    Joy FM

    Joy FM is a privately owned radio station in Accra, the capital of Ghana and owns https://www.myjoyonline.com/ghana-news/ .The station is owned and run by Multimedia Group Limited.
    Profile photo of Joy FM

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