Comprehensive  Ghana Oil and Gas news, information, updates, analysis


News in Brief

PIAC, EOCO partner to prosecute officials who divert, misuse petroleum funds

  • SOURCE: Joy | Joy FM
  • Public officials found to have misused or diverted petroleum funds will soon be prosecuted by the state.

    Steve Manteaw, Chairman of the Public Interest and Accountability Committee (PIAC) said the decision was reached because his office does not have the legal capacity to enforce its recommendations.

    “Pursuant to its mandate, PIAC has since 2011 made findings and recommendations in its annual and semi-annual reports highlighting among others instance of misapplication, misuse and diversion of petroleum funds allocated to projects,” he said.

    “For us at PIAC shedding light on what appears to be criminal conduct on the part of some public officials with respect to the use petroleum revenues without holding such people to account, does not serve the accountability mandate that can be inferred in our name,” he said.

    His comments come after the Committee signed an MoU with the Economic and Organised Crime Office (EOCO) seeking to combat crimes relating to the management of petroleum revenues in the country.

    Over the years, experts in the petroleum sector have complained about the misappropriation of the country’s oil revenue.

    Last year, PAIC noted that it was yet to receive any form of correspondence from the Finance Ministry explaining the whereabouts of the over ¢400 million unutilized oil revenue allocated to the annual budget funding amount in 2017.

    Situations like these have been raised in the past but Dr Manteaw said lack of legal capacity to enforce recommendations has always been a challenge.

    He said it is for this reason that PIAC and EOCO have come together to combat crimes relating to the management of petroleum revenues in the country.

    At the signing of the MOU, Dr Manteaw noted that the agreement will help safeguard the sector from criminal abuse.

    “We are from today beginning a transitional journey from transparency to accountability with a view to combating economic and organized crime relating to the management and use of petroleum revenues in the country,” he said.

    PIAC stated that the agreement with EOCO will look at issues as far back as 2011, stressing all persons found guilty will be prosecuted by the Attorney General.

    “It will start from 2011 when oil revenues started coming in. Crime has no status banner so, since oil revenue inception, all revenues that have been abused will have to be accounted for,” he stated.

    On his part, the Executive Director of EOCO, K.K. Amoah stated that his office will work with work diligently to protect the public purse.

    He said there are cases they are working already on and he is hopeful there will be many cases.

    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

    Share this article

    Leave a reply

    Personality of the Month
    Follow Us Online
    About Us
    Reporting Oil and Gas project was launched on 4th June 2009 at Takoradi, Western Region, Ghana by Penplusbytes (www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector read more
    Events Calendar
    << Mar 2019 >>
    MTWTFSS
    25 26 27 28 1 2 3
    4 5 6 7 8 9 10
    11 12 13 14 15 16 17
    18 19 20 21 22 23 24
    25 26 27 28 29 30 31
    Twitter Activity Stream
     

    Partners We are proud to be associated with:

    Skip to toolbar