Skip to main content

Scandal hits PUSAG

…About GHc190,000 missing

By: Fred Yaw Sarpong

Investigation has revealed that an amount of GHc190,000 belonging to the Private Universities Students Association of Ghana (PUSAG) cannot be traced in  its Unibank account.

The GHc190, 000 is part of a GHc286,000 sponsorship package the association secured from the Unibank Ghana for its 2015 PUSAG Games and Entertainment Festival held in Kwame Nkrumah University of Science and Technology (KNUST) last year.

The 2015 financial statement of the association quoted GHc96,000 as a sponsorship package instead of the GHc286,000.

The number 11 item (Note of Account) of the financial statement of the association (Sponsorship-cash equivalent) quoted GHc96,000 as a sponsorship package received by the then National Executive of PUSAG from Unibank in 2015.

Checks from Unibank Ghana (Account number withheld) revealed that a Memorandum of Understanding (MoU) was signed between the bank and the association for the sponsorship.

Even though this reporter is yet to see a copy of the MoU, which PUSAG itself do not have a copy, Mr. Mohammed Adams Sukparu, the immediate past President of PUSAG and the immediate Chief Operations Officer of PUSAG, Mr. Oliver Aziator allegedly signed for the association and the amount involved was GHc286,000 but not the GHc96, 000 as quoted by the immediate past Executive of PUSAG.

This reporter is reliably informed that the current President of PUSAG, Mr. Richard Odame who was then a Director of International Affairs is allegedly a beneficiary of the cash and he is therefore trying to cover up the corrupt act of his predecessors.

Further checks from sources at Unibank Ghana and PUSAG confirmed that Unibank terminated the deal and didn’t support the 2016 PUSAG Games and Entertainment Festival that was held at the El-Wak Sport Stadium because the association failed to fulfill their part of the MoU which requires them to get their member institutions to save their SRC dues with Unibank after the bank paid the latter said amount into account of the association.

A former National Executive of PUSAG who spoke to this reporter confirmed this. However, he argued that the PUSAG games last year could not have cost GHc119, 000.00 because the 2014 didn’t cost more than GHc30,000.

He said Mr. Mohammed Adams Sukparu made some of the Senators and some National Executive Council (NEC) to believed that the Unibank deal was GHc96,000.

This reporter can state that the 2014/2015 administration has not been able to prove how they spent the said amount of money from the Unibank sponsorship.

Meanwhile, Mr. Richard Odame, the PUSAG President said in a telephone interview that after a three man committee set up to investigate the alleged malfeasance in the previous administration by the current executive, the committee found out that about GHc45,000 was missing.

“The response from the previous administration was that the GHc45,000 was wrongly disbursed because it was given to those who helped the association to secured the GHc286,000 sponsorship package from Unibank,” he pointed out.

According to him, they cannot find the copy of the MoU signed between the previous administration and the Unibank. “Unibank said they cannot find a copy of the MoU,” he added.

The PUSAG President confirmed that he was aware that the Unibank package was about GHc280,000.

Mr. Mohammed Adams Sukparu also confirmed to this reporter that the amount was GHc286,000. But he asks the reporter to look for the copy of PUSAG financial statement and it audited report.


This reporter is reliable inform that some officials (names withheld) of Unibank Ghana allegedly took part of the GHc45,000.

Comments

Popular posts from this blog

Akuapem-Apirede to promote tourism

By: Fred Yaw Sarpong sarpong007@gmaail.com
The Chiefs and people of Akuapem-Apirede in the Okere Constituency of the Akuapem North Municipality have put in place strategic plans to promote tourist sites in the town.
Apiredehene, Nana Saforo Okoampah III told the Daily Express that their vision is to develop Apirede in a modern way.
“We want to have a modern society and environment. We are doing this on the basis of promoting tourism here,” he added.
According to the Apiredehene, it’s their plan to promote the historic sites and the geographical location of the community.
Apirede is one of the 17 towns that forms the Akuapem State and historically, it used to house the armours of the Akuapem State. The community is part of the Nifa division of Akuapem.
He stated that one of those things was called ‘Odosu’ (the war god for Okuapemhene). “The Chief Executioner in those days for Akuapem also came from Apirede and items that he used were also kept here,” he stated.
“These are a lot of things …

PIAC told to go to court to enforce recommendations

By: Fred Yaw Sarpong
sarpong007@gmail.com

The Public Interest and Accountability Committee (PIAC), the mandated body to monitor the use of Ghana’s oil revenues has been asked to go to court to seek strict compliance of the laws covering accountability of oil funds in the country.

According to Dr. Steve Manteaw, the Campaign Coordinator for ISODEC and a member of the PIAC , it’s time for PIAC as a body to consider going to court to compel institutions responsible for managing Ghana’s oil revenue to answers some questions concerning the expenditure of oil funds.

He pointed out that there are several recommendations made by the PIAC in its past reports on management of petroleum revenues, and a lot of these recommendations has received no positive response from the institutions concerned.

He disclosed this to the Daily Express at a three-day workshop on Interrogating the 2016 Semi Annual PIAC Report at Koforidua in the Eastern Region.

The workshop was organized by the Institute of Financ…

BoG shuts down two financial institutions

The Bank of Ghana has closed down two financial institutions in the country. This was after the central bank investigation revealed that the two companies were operating without approval.

The two companies were Agro Development Fund Services Limited (ADFSL) and Hebron Financial Investment Limited (HFIL).

The Daily Express gathered that the ADFSL was asked to stop operating after the central bank realized the institution had not been licensed to take deposit from the public.

A statement from BoG said the ADFSL continued to operate despite the orders from the Bank of Ghana. It however closed down ADFSL’s operation until further notice.

The Bank of Ghana said that the ADFSL is located at Asufufu, opposite the Sunyani Traditional Council in the Brong Ahafo region.

“The decision to close down ADFSL is in furtherance of section 20(2) (g) of the Banks and Specialized Deposit-Taking Institutions Act, 2016 (Act 930). Bank of Ghana has investigated ADFSL thoroughly and has concluded that its a…