{"id":181071,"date":"2024-05-10T18:51:52","date_gmt":"2024-05-10T18:51:52","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/05\/10\/bog-clarifies-role-in-12m-payment-to-contractors\/"},"modified":"2024-05-10T18:51:52","modified_gmt":"2024-05-10T18:51:52","slug":"bog-clarifies-role-in-12m-payment-to-contractors","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/05\/10\/bog-clarifies-role-in-12m-payment-to-contractors\/","title":{"rendered":"BoG clarifies role in $12M payment to contractors"},"content":{"rendered":"<p><\/p>\n<div>\n<p>The Bank of Ghana has rejected criticisms over the disbursement of $12 million on behalf of the government for the Pwalugu Irrigation Project, despite no visible progress on the ground.<\/p>\n<p>The Central Bank denies any allegations of impropriety, explaining that the payment to the contractors, MS Power China International Group Limited, was released solely upon the government\u2019s authorisation.<\/p>\n<p>At a recent Public Accounts Committee sitting, some members questioned the rationale behind such a payment, generating concerns among the public.<\/p>\n<p>But in an exclusive interview with Citi News, Bernard Otabil is the Director of Communication at the Bank of Ghana clarified its role as a custodian of government accounts, insisting that it operates within the bounds of its mandate and cannot be faulted for executing authorised transactions.<\/p>\n<p>\u201cWe are the Central Bank, we are\u00a0actually the chief cashiers of the government and we also hold all governments accountable. So, we would act on instructions that have been given to us.\u00a0Once that approval has been sought and the project is started, then you would also have the role of the ministry of finance at some point, coming in to also look at what has been submitted and whether it is actually in line with what has been submitted with the contract that has been solely specified and when satisfied with the supporting documents that need to be presented, they can also make recommendations.<\/p>\n<p>\u201cBut finally, you will also have the Controller and Accountant General coming in and making that authorisation for payment to be made and that comes to us.<\/p>\n<p>\u201cWe will then go ahead to make the payment if the account is fully funded and therefore there will not be any form of disclosure on our part because it is the same. It is not different from any of the banking services that you are very much used to. In our unique position, is that we deal with the government and most of all the MDAs, but largely we are on the government\u2019s side, we are the bankers of the government.\u00a0 The government withdraws on its\u00a0own\u00a0account, let\u2019s make that clear and nobody can issue a cheque on anybody\u2019s account.<\/p>\n<p>\u201cSo, we will make the payment from the government\u2019s account authorised by the right people that are supposed to make that authorisation. So, we will check to make sure that the instruction sole given both amounts in words actually match and that the account is well funded and then we can go ahead and make payment.<\/p>\n<p>\u201cDoes it mean that we will just go ahead to make payment even if some form of query has been raised on an amount because it is coming from the government, but not in all cases. You may have a situation where maybe something has been raised about some form of payment, we will go back and look into it, and investigate before we go ahead to payment,\u201d he stated.<\/p>\n<hr\/>\n<p><em><strong>Explore the world of impactful news with CitiNewsroom on WhatsApp!<\/strong><\/em><\/p>\n<p><em><strong>Click on the link to join the Citi Newsroom channel for curated, meaningful stories tailored just for YOU:\u00a0https:\/\/whatsapp.com\/channel\/0029VaCYzPRAYlUPudDDe53x<\/strong><\/em><\/p>\n<p><em><strong>No spams, just the stories that truly matter! #StayInformed #CitiNewsroom #CNRDigital<\/strong><\/em><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Bank of Ghana has rejected criticisms over the disbursement of $12 million on behalf of the government for the Pwalugu Irrigation Project, despite no visible progress on the ground. The Central Bank denies any allegations of impropriety, explaining that the payment to the contractors, MS Power China International Group Limited, was released solely upon [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":8769,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-181071","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BoG clarifies role in $12M payment to contractors - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/05\/10\/bog-clarifies-role-in-12m-payment-to-contractors\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BoG clarifies role in $12M payment to contractors - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"The Bank of Ghana has rejected criticisms over the disbursement of $12 million on behalf of the government for the Pwalugu Irrigation Project, despite no visible progress on the ground. 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