The Auditor-General’s report on the public accounts of Ghana, public boards, corporations and other statutory institutions for the period ended 31 December 2020, unraveled that an amount of GHS62,837 belonging to the Ghana Free Zones Authority (GFZA) disappeared without trace while in transit from the Ghana Commercial Bank (GCB) to the Bank of Ghana (BOG).
The Audit report recommended that the management of the GFZA follows up with the BOG and the GCB in order to retrieve the said amount.
It was also revealed in the report that, the GFZA invested GHS17,342,613.97 in three institutions whose license to operate had been withdrawn, making it near impossible to recover the said amount.
The Auditor-General recommended that management puts in place measures to contact the receiver of the affected financial institutions in order to retrieve the lost investments.
“We recommend that management should put in place measures to contact the receiver of the affected financial institutions with the aim to retrieve these investments”, portions of the Audit report said. .
It was also revealed in the report that management of the GFZA have failed to recover a long-standing debt of GHS2946,039.18 which were owed by three of the Free Zone Companies.
The report also indicated that there have been encroachments on portions of the Boankra FZ land enclave which is owned by the GFZA.
