Ghana’s Public Accounts Committee (PAC) has expressed strong disapproval of the Controller and Accountant General’s Department (CAGD) for failing to retrieve GH¢61 billion in state funds held by various companies and state institutions. This criticism came during a recent parliamentary session reviewing the 2023 Auditor-General’s report on public accounts.

The report revealed that only GH¢46 million of the GH¢61 billion owed to the state has been recovered, leaving a substantial amount uncollected. The Auditor-General’s report recommended that the CAGD implement an improved tracking system to ensure accurate recording and easy traceability of financial transfers, facilitating the recovery of outstanding funds and preventing further losses.

Acting Controller and Accountant General, Mr. Kwasi Adjei, acknowledged the Department’s shortcomings but highlighted their role in providing public financial management services under the Ministry of Finance. He mentioned the establishment of a joint committee between the CAGD and the Ministry of Finance to oversee the recovery of outstanding debts.

The Minister of Youth and Sports, Mustapha Yussif, and representatives from the National Youth Authority and National Sports Authority responded to queries raised by the Auditor-General. The Ghana Water Company Limited also faced questions from the Committee regarding their financial management practices, represented by Deputy Minister of Sanitation and Water Resources, Aminu Issahaku Chinnia.