Minister for Energy and Green Transition John Abdulai Jinapor has uncovered a staggering $500,000 fraud at the Electricity Company of Ghana (ECG), exposing a shocking case of improper auctioning of critical equipment meant for the company.
Mr Jinapor revealed that ECG’s failure to clear essential equipment from the port on time has led to significant financial losses and inefficiencies for the State.
Striking evidence of this malfeasance involves a $500,000 container of electrical equipment that was left uncleared and subsequently auctioned off at a drastically reduced price.
“I checked with the port, and the security report I received shows that a container worth about $500,000 was imported. ECG couldn’t clear it, and somehow, someone was able to buy it at auction for 100,000 cedis, then resell it to ECG for $300, 000,” Mr Jinapor declared.
He condemned this situation as “unacceptable” and vowed to put an end to such practices. “It will stop. And I mean it will stop. Whatever it takes to stop that, no matter how unpopular that may be, we must take action,” he emphasized.
In a related development, the International Monetary Fund (IMF) and the World Bank have projected an increase of Ghana’s Tariffs by 58% a development Mr Jinapor pledged to consider looking at the inefficiencies at the ECG right now. He also promised to close the multiple accounts the company was operating
