KPMG report: Ghana should chase SML for monies lost, prosecute officials – Manasseh

Investigative journalist Manasseh Azure Awuni says Ghana does not risk any financial obligations if it terminates the revenue mobilisation transaction between the Ghana Revenue Authority (GRA) and Strategic Mobilisation Ghana Ltd (SML).

Instead, he says the country should go after SML for monies it did not earn as well as officials who had caused the country huge financial losses due to the contract.

Audit firm KPMG said the contract between the GRA and SML can be terminated by either party. However, the firm, in its full report on the contract, states that the termination could trigger financial implications for the Government of Ghana (GoG) and the GRA.

“Upon termination, GoG and GRA remain liable to settle SML for services already completed but not yet paid. GoG and GRA are not entitled to a refund of any compensation already paid to SML, regardless of the termination cause.”

“If GoG or GRA terminates without a cause, it becomes liable to pay SML an ROI equivalent to the fair value of SML’s investment in the contract,” it stated.

But Mr Awuni told Umaru Sanda Amadu in an Eyewitness News interview on Citi FM on Thursday that “I don’t see where there is judgment debt. The liability comes when the company is able to demonstrate how much they have spent and how much they are losing.

“The SML report even before the full one came out, the presidency said the KPMG tried to get SML to actually tell us or give evidence of its investments into this contract, the company couldn’t justify that. We also know that over a billion cedis has already been paid to this company. So if there is any money to be taken, Ghana should be chasing SML for money the company did not earn and not the other way round.”

“SML takes revenue from fuel that is [taken] from all the depots in this country, a percentage. But the report said their metres are not yet working in some of the depots.

“Ghana should rather go to SML and chase them for money and the state and public officials that caused these huge losses to the state should be facing the court.”

Explore the world of impactful news with CitiNewsroom on WhatsApp!

Click on the link to join the Citi Newsroom channel for curated, meaningful stories tailored just for YOU:

No spams, just the stories that truly matter! #StayInformed #CitiNewsroom #CNRDigital

The post KPMG report: Ghana should chase SML for monies lost, prosecute officials – Manasseh appeared first on Citinewsroom – Comprehensive News in Ghana.