Nduom Did Not Cause Financial loss - Statesman

According to the newspaper Statesman, while “Network Herald” investigation into the yet-to-be released audit has uncovered financial loss amounting to $449.166.59 caused by Minister for Energy, Kwesi Nduom’s Deloitte and Touch?’ Management Consulting that implicates the former CE of the refinery, the paper checks have showed beyond doubt that no company of which Dr. Kwesi Nduom was a part or involved with any such deal with TOR.

It says whilst the editor of the “Network Herald” had admitted publicly on Metro TV’s Good Morning show, that the $446m figure must be attributed to the proverbial printer’s devil, the story falsely alleging the cause of financial loss against the Minister, along with the near half a billion-dollar figure, was widely circulated on the internet, courtesy of GHANAWEB, Joy FM’s myjoyonline.com and Network herald.gh.com.

While, TOR spent about $1m to install a comprehensive world class computer software system for its operations, the company with which that deal was struck was an incorporated company legally distinct from the company Nduom headed at the time.

In 1990, dr. Kwesi Nduom, a Washington – based partner of Deloitte & Touch?, USA moved to Ghana and formed Deloitte & Touch? West Africa Consulting Company Ltd.

Already in existence at the time was Deloitte and Touch? (Gh) Ltd, a company set up in 1948 by a Scottish Accountant and former employee of UAC.

The two companies had distinctly separate practices and were operating separately from different offices, said Joseph K. Forson, chairman of Deloitte and Touch?.

While admitting that some work was done by this firm for TOR as indicated by the purportedly yet to be released audit report, Forson clarified that “the job was given to Deloitte and Touch? Ghana but not Nduom’s Deloitte and Touch? West Africa Consulting. So it is very unfortunate that he has been linked to it”.

“Nduom had absolutely nothing to do with that software installation and training project for TOR. Had the paper cross-checked it would have been clear to them that Nduom was in no way involved in the practice and operations of Deloitte and Touch? Ghana.