‘We transferred all monies collected to Bank of Ghana’

The Pan African Bank, Ecobank, has categorically stated that it paid all monies collected on behalf of government to the appropriate body.

In reference to the recent querying of the Commissioner General of the Ghana Revenue Authority (GRA), George Blankson, by members of the Parliamentary Accounts Committee (PAC) to explain how two banks, Ecobank and GCB Bank, allegedly withheld the sum of Gh¢83million they collected on behalf of GRA, Ecobank has stated that all monies collected were promptly paid.

“I wish to confirm Ecobank’s position that all monies collected on behalf of government were duly paid by Ecobank into the designated account at the Bank of Ghana.

“Ecobank will continue to support the government of Ghana in its revenue collection,” Reverend Mrs. Patricia Sappor, the bank’s Head of Corporate Communications in Ghana and the West African Monetary Zone (WAMZ) Cluster, said in an interview with the B&FT.

According to the Financial Administration Act, banks are mandated to transfer into accounts of the Bank of Ghana (consolidated fund) taxes paid on petroleum products lifted by the oil marketing companies within three days.

Ecobank has stressed that it will always work to support the government of Ghana.