Sports News of Friday, 24 February 2017
Officials of the National Sports Authority (NSA) have disclosed that the organisation is in serious financial distress and is much more insolvent than previously thought, with huge debts sitting on its books in excess of GH¢25 million.
According to its chief accountant, Rev Solomon Otoo, the NSA is suffocating under a huge debt of GH¢27 million and its liabilities exclude a recent judgment debt of $380,000 and GH¢45,000 granted by an Accra Hight Court to Litina Travel and Tours for a breach of contract.
Narrating how the country’s main sports supervisory body racked up such debts, Rev Otoo stated that the organisation was indebted to a private firm, Apple Health Lifestyle, which supplied gym equipment for the four national stadia in Accra, Essipong, Kumasi and Tamale but were yet to be paid.
“Sometime in 2010 to 2011, multipurpose courts were constructed across the country, and while some costs have been settled, an amount of GHC461,000 is left to be paid,” he explained.
He added that during the 2015 All Africa Games in Congo, Brazzaville, the authority sought the services of Haramani Ventures Limited to provide kit and equipment for players amounting to GH¢1,730,000 which remained outstanding.
“We still have not paid them that amount,” Rev Otoo confirmed
Furthermore, security company Magnum Force Security is owed GH¢1,743,000 for providing security at all NSA facilities and structures.
He confirmed to this paper that the Ministry of Youth and Sports was aware of the NSA’s predicament but was yet to provide a bailout or proffer any solution for the financial stress that had virtually brought the NSA to its knees.