{"id":3349,"date":"2024-08-23T01:13:49","date_gmt":"2024-08-23T01:13:49","guid":{"rendered":"https:\/\/sbmediaonline.com\/?p=3349"},"modified":"2024-08-23T01:13:49","modified_gmt":"2024-08-23T01:13:49","slug":"gh%c2%a261-billion-in-state-funds-stuck-with-companies-and-government-institutions-cagd-reports","status":"publish","type":"post","link":"https:\/\/sbmediaonline.com\/?p=3349","title":{"rendered":"GH\u00a261 billion in state funds stuck with companies and government institutions, CAGD reports.&#8221;"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"180\" src=\"https:\/\/uwordpressmedia.blob.core.windows.net\/uwordpressmedia01\/2024\/08\/86508360.295.jpg\" alt=\"\" class=\"wp-image-3350\"\/><\/figure>\n\n\n\n<p>The recent sitting of the Public Accounts Committee of\u00a0<a href=\"https:\/\/www.ghanaweb.com\/GhanaHomePage\/people\/person.php?ID=3205\" target=\"_blank\" rel=\"noreferrer noopener\">Parliament<\/a>\u00a0disclosed that an amount of GH\u00a261 billion has been locked-up with various companies and state institutions across the country.<br><br>This is due to the failure of the Controller and Accountant General\u2019s Department (CAGD) to recover all the locked-up funds, graphic.com.gh reports.<br><br>During a review of the 2023 Auditor-General\u2019s report at the PAC sitting, the committee members criticised the Controller and Accountant General\u2019s Department following a disclosure by the report that of the GH\u00a261 billion owed to the state, only GH\u00a246 million has been retrieved so far, leaving a significant amount uncollected.<br><br>The report, in its recommendation, said that the CAGD should implement an effective tracking system to ensure all financial transfers made are easily traceable and recorded accurately, to aid in the recovery of funds and prevent further losses.<br><br>However, the Acting Controller and Accountant-General, Kwasi Adjei, explained to the PAC that the institution\u2019s inability to recover the funds is due to its operation under the Ministry of Finance.<br><br>According to him, he said they provide public financial management services to the government and the public.<br><br>He further mentioned that a joint committee between the CAGD and the Ministry of Finance has been established to specifically oversee the recovery of the outstanding debts.<br><br><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The recent sitting of the Public Accounts Committee of\u00a0Parliament\u00a0disclosed that an amount of GH\u00a261 billion has been locked-up with various companies and state institutions across [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":3350,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-3349","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/sbmediaonline.com\/index.php?rest_route=\/wp\/v2\/posts\/3349","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sbmediaonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sbmediaonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sbmediaonline.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/sbmediaonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3349"}],"version-history":[{"count":1,"href":"https:\/\/sbmediaonline.com\/index.php?rest_route=\/wp\/v2\/posts\/3349\/revisions"}],"predecessor-version":[{"id":3351,"href":"https:\/\/sbmediaonline.com\/index.php?rest_route=\/wp\/v2\/posts\/3349\/revisions\/3351"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sbmediaonline.com\/index.php?rest_route=\/wp\/v2\/media\/3350"}],"wp:attachment":[{"href":"https:\/\/sbmediaonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3349"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sbmediaonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3349"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sbmediaonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}