Business News of Wednesday, 12 February 2020Source: classfmonline.comUS$655m oil cash 'vanished into thin air' under Akufo-Addo – MinorityFormer Deputy Power Minister, John JinaporThe Minority in Parliament has said US$655 million of Ghana’s oil revenue can still not be accounted for by the Akufo-Addo administration, per reports by the Public Interest and Accountability Committee (PIAC) reports of 2017 and 2018. In a presentation on Ghana’s oil sector by a Deputy Power Minister in the erstwhile Mahama administration, Mr John Jinapor said: “Now, if you look at the PIAC report, it makes it clear that there is a lack of transparency and accountability within the oil sector, in terms of accounting for our oil revenue”. “Equally, the PIAC report of 2017 and 2018 – and this is a public document – state categorically that US$655 million cannot be accounted for between 2017 and 2018”, Mr Jinapor said at a forum in Accra on Wednesday, 12 February 2020. “What it means”, he noted, “is that US$655 million of the taxpayers’ money has vanished into thin air”, adding: “This is unfortunate”. “We’ve raised it on the floor, we’ve demanded answers and yet this government is evasive when it comes to this”.

Source: GhanaWeb February 12, 2020 16:18 UTC