2024 cash irregularities involving public boards and statutory institutions hit GHS4.6bn – Auditor General’s Report

Cash irregularities involving Ghana’s public boards, corporations, and statutory institutions soared to GH¢4.6 billion in 2024, according to the latest Auditor-General’s Report.

These irregularities, are defined by the Auditor-General as payments made without proper documentation, unaccounted revenue, and unretired imprests.

This marks a remarkable rise of over 580-fold compared to the GHS7.9 million recorded in 2023, according to the latest report on public boards and statutory institutions.

A major portion of the irregularities was linked to the Electricity Company of Ghana (ECG), which under-declared revenue by GHS2.95 billion and failed to disburse GHS1.29 billion owed to State-Owned Enterprises and Independent Power Producers. ECG also withheld GHS70.9 million in taxes that should have gone to the Ghana Revenue Authority.

The Auditor-General’s office traced these cash lapses to poor oversight, missing or insecure financial records, and repeated violations of the Public Financial Management Act. The report cited weak internal controls and management inaction as key enablers.

Overall, cash infractions made up a quarter of the GH¢18.4 billion in total financial irregularities flagged in 2024. Despite recurring red flags, enforcement remains weak, and no major sanctions have been confirmed so far.

The Auditor-General is calling for tighter controls, better supervision, and full enforcement of financial accountability laws to curb these indiscretions.

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