APA – Accra (Ghana)
The directive of President Akufo-Addo to KPMG, an international audit, tax and advisory services firm to audit the contract entered into by the Ghana Revenue Authority (GRA) and Strategic Mobilisation Ghana Ltd (SML) to enhance revenue assurance in the extractive sector is one of the leading stories in the Ghanaian press on Thursday.
The Ghanaian Times reports that the President, Nana Addo Dankwa Akufo-Addo has tasked KPMG, an international audit, tax and advisory services firm to audit the contract entered into by the Ghana Revenue Authority (GRA) and Strategic Mobilisation Ghana Ltd (SML) to enhance revenue assurance in the extractive sector.
The contract enabled the SML to ensure enhanced revenue assurance in the down and upstream petroleum production sector as well as the minerals and metals resources value chain.
The contract has come under intense criticism following a investigative piece by the investigative journalist, Manasseh Awuni Azure which alleged some wrong doings in the contract terms and execution.
The statement issued in Accra by the Director at the Presidency, Mr. Eugene Achin, said that the terms of reference for the KMPG in the conduct of its audit was to ascertain the rationale and needs assessment performed prior to the contract approval by the GRA.
It was also to assess how the arrangement aligned with specific needs, assessing the appropriateness of the contracting methodology, verifying compliance with legal standards and industry best practices in the procurement process for the selection of SML.
In addition, it is to evaluate the degree of alignment between current activities and the stipulated contract scope, identifying any deviations, evaluate the value or benefit that SML had so far offered to the GRA through the engagement as well as review the financial arrangements, including pricing structures, payment terms and resolution of any financial compliance issues.
The firm is to submit a report on its findings on the above, together with appropriate recommendations to the President within a period of two weeks.
The statement said President Akufo-Addo had directed the Ministry of Finance and the GRA to provide KPMG with whatever assistance it would require for conduct of the audit, stressing that
“He has also directed the Ministry of Finance and the Ghana Revenue Authority to suspend the performance of the contract, pending the submission of the audit report.: The suspension included any payments presently envisaged under its terms, the statement emphasised.
The Graphic says that former President John Dramani Mahama says he is optimistic that he will be sworn into office as President of Ghana on January 7, 2025.
The flag bearer of the National Democratic Congress said he was aware of the challenges confronting Ghanaians and that his team had developed a comprehensive plan that would create jobs to alleviate the sufferings of the people.
Delivering his New Year Message in a video broadcast Wednesday, Jan 3, 2024, Mr Mahama rallied the citizenry not to lose hope and support the NDC to deliver change and transform the economy.
He accused the New Patriotic Party Government of “recklessly mismanaging” the economy and engaging in “profligate” expenditure at the expense of socio-economic and infrastructure development.
“2023 has been nothing but a continuation of the years of hardship, the high cost of living and worsening poverty for the Ghanaian people,” he said, adding that the 2024 budget offered “no hope” in improving the lives of the people.
Mr Mahama said the proposed 24-hour economy policy would be a “game changer” and would help to revitalise the economy.
“This innovative policy seeks to maximise productivity and efficiency by extending business hours and operations around the clock.
“Doing so will create a more economic and vibrant economy that benefits workers and businesses. It will increase economic output, and create well-paying jobs,” he said.
The FBI, along with international partners in Ghana, played a crucial role in apprehending Adejorin and bringing him to justice.
United States Attorney Erek L. Barron commended the FBI, Baltimore Field Office, for its work in the investigation and thanked the FBI Legal Attaché in Accra, Ghana, and the Republic of Ghana’s Economic and Organised Crime Office (EOCO), the Office of Attorney General and Ministry of Justice, and the Ghana Immigration Service, for their valuable assistance in this case.
The newspaper says that a Nigerian national named Olusegun Samson Adejorin is facing federal charges in the United States for an alleged US$7.5 million business email compromise scheme that targeted two charitable organisations. Adejorin was arrested in Ghana on December 29, 2023 and awaits his initial appearance in court in Ghana.
According to an eight-count indictment unsealed in Maryland, Adejorin operated between June and August 2020.
He allegedly gained access to employee email accounts at both charities, one in Maryland and the other in New York.
Posing as authorised personnel, Adejorin allegedly tricked the institutions into transferring over US$7.5 million from the New York charity’s investment funds held by the Maryland organisation.
The indictment details a sophisticated scheme. Adejorin allegedly used a credential harvesting tool to steal login information, created fake domain names to mask his tracks, and even manipulated email accounts to hide his activity.
If convicted, Adejorin faces a maximum sentence of 20 years per count of wire fraud, an additional five years for unauthorised computer access, and mandatory two-year sentences for aggravated identity theft.
The potential penalty could rise further for domain name misuse.
“An indictment is not a finding of guilt,” said the U.S. Attorney’s Office in a press release, but the serious charges and detailed allegations paint a picture of a complex and audacious crime.
GIK/APA