Management of Ghana National Gas Limited has dismissed claims of impropriety surrounding recent changes to its insurance arrangements, insisting that all processes were conducted in line with the law.
In a statement issued on Monday, April 13, the company’s Head of Corporate Affairs, Richard Ernest Kirk-Mensah, rejected the allegations, stating: “The Company wishes to categorically assure the general public that no wrongdoing has occurred.” He further explained that “the new insurance arrangements are entirely lawful and represent an enhanced risk management strategy to safeguard the Company’s assets.”
The response follows media reports that questioned the circumstances under which the company transitioned from its previous lead insurer to a new provider. Although the statement did not disclose the firms involved, management clarified that the change occurred after the “routine expiration” of existing contracts at the end of the year.
According to the company, all procurement procedures linked to the new arrangements received the required approvals. It indicated that the contracts were cleared by the Public Procurement Authority (PPA) and supported by commitment authorisations from the Ministry of Finance.
Mr. Kirk-Mensah reiterated the company’s commitment to transparency and accountability, noting that, as is standard practice for any robust organisation, it will continue to review and strengthen its internal processes when necessary to ensure compliance and effective risk management.
The issue comes at a time when procurement activities within Ghana’s energy sector are attracting heightened public attention, with stakeholders calling for stricter accountability from state-owned institutions.
Ghana Gas, a major player in the country’s energy value chain, is responsible for processing and transporting natural gas for power generation and industrial use. Despite the concerns raised, the company maintains that its operations remain on track.
It assured the public that it is fully focused on delivering gas in a timely and efficient manner to ensure the nation’s energy needs are consistently met.
While no timeline has been outlined for any independent review of the matter, the Board has reaffirmed its commitment to stakeholders and pledged to uphold high standards of corporate governance.
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Read the full statement below:
