GH¢61bn of public funds locked up in Municipal and District Assemblies - Auditor General

The Auditor General's report has found a startling GH¢61 billion of state funds locked up with various corporations and institutions across the country.

According to the report, GH¢57 million is allocated to metropolitan, municipal, and district assemblies, with the remainder GH¢5.6 billion belonging to state-owned firms.

Appearing before Parliament's Public Accounts Committee, the controller and Accountant General, Kwasi Adjei stated that a committee has been formed to oversee the debt recovery.

“It is a committee made up of officers from DAG and the Ministry of Finance and they have gotten the list of all those companies."

"Some of them are insolvent and don’t exist but we will go after those that are still solvent and make sure that we recover this amount and then those that are insolvent too, we will make a recommendation to the Ministry and Parliament for a write-off," he added.

Source: Lead News Online