Senyo Hosi calls for public investigation into missing GHC915 million oil cash

General News of Thursday, 31 May 2018

Source: mynewsgh.com

2018-05-31

Chief Executive Officer (CEO) of the Chamber of Bulk Distribution Companies, Mr Senyo Hosi

The Chief Executive Officer (CEO) of the Chamber of Bulk Distribution Companies, Mr Senyo Hosi is demanding a public inquiry to establish the whereabouts of missing GH¢915 million being taxes from the oil resources in 2016 and 2017.

“An analysis of the NPA OMC performance data shows that government failed to account for GHS576.63 million for 2016 and GHS339.16mn for 2017 in ESLA taxes.

The 2016 volumes indicate that government earned a total of GH¢3,875.56 million (assuming that GoG’s report on the receipts from the power sector and the balance brought forward from the Petroleum Debt Recovery Levy Account are accurate). However, the report by the Minister of Finance to Parliament stated that GH¢3,298.94 million was raised.

“The Minister of Finance reported to parliament that an amount of GH¢3,151.74 million was realised in ESLA receipts for 2017. This position is irreconcilable with computed ESLA receipts earned, based on NPA confirmed 2017 OMC performance data, which indicates that GH¢3,490.90mn should have been collected,” the Chamber said in a report it launched on Tuesday.

The Chamber said the situation is “extremely alarming and suggestive of high-level corruption and tax evasion.”

Speaking to MyNewsGH.com Senyo Hosi, said “we need to investigate it because there are people in the system who are colluding to loot our oil revenue. We need a public inquiry because we have politicians, customs officers, security officers and some persons in the oil industry involved.”

Senyo Hosi who expressed worry about illegal fuel in the country underscored the need for the National Petroleum Authority to step up its measures to deal with the situation to save the downstream petroleum sector from collapse.

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