Zumzum: GHC1.5bn missing from Ghana’s Oil Funds,…Akufo-Addo must tell us where is the Money?

Oil Fund// Ghanaians prefer; Accra digital center over KVIP toilets, E- blocks over urinals, Data center over scam 1D1F, Roads over non-existing roads, Prampram affordable housing units over non-existing Sefwi Wiawso affordable housing units.


There’s heightened corruption in Ghana today.
Corruption erodes the trust we have in the public servants to act in our best interests. It also wastes our taxes or rates that have been earmarked for important community projects – meaning we have to put up with poor quality services or infrastructure, or we miss out altogether.

Other common constraints on development are high economic poverty, hunger, high mortality rates, unsafe water supplies, poor education systems, poor sanitation.

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Zumzum: GHC1.5bn missing from Ghana's Oil Funds,...Akufo-Addo must tell us where is the Money?
Zumzum: GHC1.5bn missing from Ghana’s Oil Funds,…Akufo-Addo must tell us where is the Money?


Transparency I believe should be based on demand and supply terms.
Transparency fosters trust, and trust is important for the health of every relationship under the sun. Building happiness and engagement through transparency means updating the entire country, regularly, on strategies and current events.

Brethren, on the above backdrop what image is NPP- led government cutting of our dear nation? The former chairman of PIAC is telling us GHC1.5 billion could not be accounted for from our country’s oil funds. And when he enquired from some colleagues with the Public interest and accountability committee (PIAC) about the money, he was told the government wasn’t willing to account.

What’s that! That’s the height of CORRUPTION in our country today.

PIAC mandate?

This is a constitutionally mandated body; and
the main mission of the PIAC is ‘to ensure efficient, transparent and accountable management of petroleum revenues and investments to secure the greatest social and economic benefit for the people of Ghana through active engagement with government and citizens’. Oil Fund

All our state institutions are rendered useless, fact!
It’s public knowledge also that developing countries with minerals are very corrupt and for knowing they’ve alternative means of making money than through tax revenues. They don’t worry much if citizens render their tax obligations or not. Whereas with the developed countries the citizens are very happy to file their tax returns, why, they know their money will be used judiciously for intended purposes, meaning there is sunshine – transparency, and accountability in all engagements.

So, don’t blame Ghanaians as they don’t feel enthused in filing their tax returns. Even the right to information act is just gathering dust as it’s laced with so many encumbrances. Where did we go wrong? I ask, is social democracy indeed meaningless on the pink sheet?

According to the 1992 constitution, maximum happiness must be provided to the citizenry. It made it clear the resources must be used for the benefit of the citizenry.

Parliament most recently in line with the Minerals Income Investment Fund (MIIF) Act, 2018 (Act 978), approved agreements to allow the country to derive maximum value from its mineral resources and monetize its mineral income accruing to the country in a sustainable and responsible manner.

Anything short of the above then we’ve failed as a nation – and posterity wouldn’t forgive us. Oil fund

Before one could finish talking about the missing GHC1.5 billion Agyapa is here knocking!

Leveraging our mineral resources for 15 yrs, meanwhile, we’ve state-owned entity, Ghana Investment Infrastructure funds (GIIF) which could be used as a Special Purpose Vehicle, SPV in playing the same roles in raising the money Nana Addo led government wants to. To date the owners of Agyapa are shrouded in secrecy. All we know is Senior Minister, Osafo Maafo’s son is the one fronting for Agyapa. Oil Fund

Is mother Ghana safe?

Even, one of their own, the Attorney General, Gloria Akuffo referred to the Agyapa deal as a bad deal – “Agyapa deal unconscionable” she said.

Fellow Progressives, let’s call them out and make sure Nana Addo is kicked out come December 7.
We can’t continue this way.
Ghana must work again. Oil Fund

Rescue mission!

By Kofi Azumah Xornam aka Zumzum

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