The Auditor General’s report has revealed that a staggering GH¢61 billion of state funds are locked up with various companies and institutions across the country.
Out of the total sum, GH¢57 million belongs to different metropolitan, municipal, and district assemblies while the remaining GH¢5.6 billion belongs to state-owned enterprises.
Appearing before the Public Accounts Committee of Parliament, the Controller and Accountant General, Kwasi Adjei, said a committee has been established to oversee the recovery of the debt.
“It is a committee made up of officers from DAG and the Ministry of Finance and they have gotten the list of all those companies.
- “Some of them are insolvent and don’t exist but we will go after those that are still solvent and make sure that we recover this amount and then those that are insolvent too, we will make a recommendation to the Ministry and Parliament for a write-off.”