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Business News of Friday, 12 February 2016

Source: classfmonline.com

Deleted ghost names save GHC111.2m

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The deletion of close to 6,000 ghost names from the public payroll in the first three quarters of last year prevented the dissipation of GHC111.2 million, Finance Minister Seth Terkper has said.

Mr Terkper said from January to September 2015 alone, 5,861 people were deleted, with cumulative savings for the nine months of about GHC111,256,375.44.

The deletion of the ghost names was part of government’s payroll management system.

As part of the payroll clean-up process, the Controller and Accountant General uses the Electronic Salary Payment Voucher (E-SPV) system that allows for real-time validation of each employee before the payment of monthly salaries.

Also, unit heads in public institutions now determine who should be paid for a particular month.