Chief Executive Officer of the Ghana Cocoa Board (COCOBOD), Dr. Ransford Abbey, has disclosed that the institution failed to submit its financial statements to the State Interests and Governance Authority (SIGA) for six consecutive quarters before his assumption of office.
Speaking on Asempa FM’s Ekosii Sen show, Dr. Abbey said the omission was one of several critical lapses he uncovered upon taking office.
“For six quarters, COCOBOD did not provide financials to SIGA, and I haven’t seen a single letter from SIGA demanding those documents,” he stated.
He further revealed that even Parliament and the transitional team were unaware of key financial commitments and contract arrangements.
“Roll-over contracts were not in the handing-over notes, not disclosed to the transitional team, and Parliament was not aware,” he said.
Dr. Abbey explained that these issues only came to light after he directed all departments to make detailed presentations on their operations. It was during this internal audit that the rollover contracts and other discrepancies were identified.
He also revealed a significant supply shortfall in the 2023/2024 cocoa season.
“In the 2023/24 cycle, COCOBOD sold cocoa but was unable to supply 333,767 tonnes. I informed the President and the Minister of Agriculture about this development, which is why the President included it in his State of the Nation Address,” Dr. Abbey explained.
He emphasized that the gaps in reporting and transparency were being addressed under his leadership to restore accountability and strengthen the institution’s governance structure.
Source: Farida Seidu | Adomonline
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