General News of Wednesday, 18 August 2021Source: www.ghanaweb.com• The 2020 audit report says the University of Ghana’s GH¢456,199.08 has been locked up in a defunct company• The money was invested by the College of Health Sciences and the School of Medicine• The report said the colleges did not pay heed to a directive against such an investmentThe 2020 audit report from the Auditor-General’s department has revealed that an amount of GH¢456,199.08 of the University of Ghana’s monies has been locked up in a defunct financial firm. The report stated that the university’s investment in the defunct Liberty Asset fund management company, was made by its College of Health Sciences, and School of Medicine and Dentistry. A report by citinewsroom.com also stated that this investment by the College was done in contravention of the school’s own financial regulations and governance. The College of Health is reported to have invested GH¢377,003.00, while the School of Medicine and Dentistry invested GH¢79,196.08. According to paragraph 1009 of the audit report on Public Boards, “There was no evidence of due diligence report available to continue investment with Liberty Asset in terms of its risk profile.

Source: GhanaWeb August 18, 2021 10:30 UTC