The Ministry of Finance has initiated a forensic audit into 55 suspended government infrastructure projects after discovering that some contractors accessed funds from external loans without executing corresponding works.
Finance Minister Dr. Cassiel Ato Forson made the disclosure during the presentation of the 2025 Mid-Year Budget Review to Parliament on Thursday, July 24.
According to Dr. Forson, the Auditor-General, in collaboration with one of the Big Four accounting firms, is leading the audit to assess how disbursed funds were utilised—particularly where physical progress falls short of the financial drawdowns.
“Mr. Speaker, it has come to the attention of the Ministry of Finance that a number of contractors implementing some of these 55 stalled projects have drawn down on the loans with no work done to match the amount drawn,” he told the House.
He further indicated that certain contractors had submitted requests for project variations and cost adjustments beyond what was initially approved by Parliament, despite clear directives against such modifications.
“There is no room for an increase in scope for any of the projects on the priority list, as agreed with the IMF and the Official Creditors Committee,” Dr. Forson added. “Implementing agencies must take note and comply accordingly.”
The audit follows the government’s decision to resume funding for selected infrastructure projects as part of Ghana’s debt restructuring programme.
Only projects that are at least 70 percent complete have been cleared to continue, in line with government efforts to manage limited fiscal space and ensure value for money.
The forensic investigation is expected to uncover any cases of financial mismanagement, procurement violations, and unwarranted payments.
The findings will guide subsequent actions, including possible sanctions, recovery measures, or legal proceedings.
Dr. Forson assured Parliament that a comprehensive report will be submitted once the audit is completed, detailing the key findings and recommended next steps.
Source: Adomonline.com
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