Corrupt Deals At WAMI

…Tender procedures thrown to the dogs

A joint report by Capitaline & Ghana Daily

The incessant pillage, maladministration and corruption at the West African Monetary Institute (WAMI) has reached its peak and if care is not taken, the introduction of the West African currency ECO, would be a mirage.

The management of WAMI has thrown due diligence to the dogs and is awarding consultancy jobs left, right and centre without tender.

This is being spearheaded by the Director General of the WAMI, Dr. Temitope W. Oshikoya.
He has awarded a number of consultancy jobs from the institute to his friends and cronies without adhering to normal procedure for bidding.
Some of the contracts Dr. Temitope Oshikoya awarded to his cronies without due process include the following:
1. Comprehensive Strategy for Sensitization on the WAMZ programme (April 2010 Review). This project was awarded to Dr. UzoEmenike, a Nigerian friend for US$5,000.00.
2. Financial Sector Programme for Development of an appropriate Architecture for Financial Integration in the WAMZ by OsitaOgbu (Nigerian friend) – April 13, 2010 for US$100,000.00.
3. Trade Policy for Liberia by Dr. Chris Itsedi
4. , (Nigerian friend) – May, 2010 for US$50,000.00.
5. Staff Salary Policy awarded to Dr. A. Osiyemi (Nigerian friend) – March 22, 2011 for US$15,000.00.
6. Formulation of National Trade Policy for Guinea by Dr. Michael Mahmoud (Ghanaian friend) – April 2011 for US$50,000.00.
7. Assessment of the E-FASS for Nigeria by C. Odiaka (Nigerian friend) – April, 2011 for US$8,000.00.
8. Producing and Transmission of special reports on WAMI’s mandate by Chudi Nwafo (Nigerian friend) – May 2011 for US$10,000.00.
9. Assessment of the need for E-FASS as a mechanism for standardization and uniformity in Banking Supervision process among the WAMZ central banks by Otimi Olugbohumgbe, CounterHouse Consultants Ltd. (Nigerian friend) – May 2011 for US$40,000.00.
10. A Strategic framework for the ECO unit of account, exchange rate mechanism and policy of reserves in WAMZ by Dr. OladunjoyeFajana (Nigerian friend) for US$80,000.00.
Capitaline and Ghana Daily were unable to ascertain from the WAMI offices the existence of any proof whether those contracts passed through procurement.
The bad governance at the Institute is washing away the efforts by member states of the West African Monetary Zone (WAMZ) to bring to birth the currency ECO.
Most of the contracts awarded of contracts and jobs were not advertised, where interested person(s) or bodies are to apply for committee formed to go through the bidding process.

When Capitaline and Ghana Daily requested for a formal interview more than a month ago, the WAMI directors have been playing hide and seek. They have eventually refused to respond to the charges.
According to two past directors from The Gambia and Nigeria and a director at post at WAMI, Dr. TemitopeOshikoya employs intimidation and harassment to bulldoze his way making it very difficult for even directors to question his judgement on all matters.
The sacking of Mr. Samuel Narh (now with Bank of Ghana) from WAMI by Temitope Oshikoya is said to have been under extreme intimidation.
Sources said one of the undercurrents underpinning the absurd sacking of Mr. Narh from WAMI reveal that Dr, Oshikoya believed that Narh (then head of ICT department of WAMI (2008)) did not follow his instructions in respect of the selection of service providers for the Payment Systems project.

“He was given a letter one early morning stating that his contract will not be renewed at the end of the month. However, the next morning, when Narh got to the office, the security officer on duty prevented him from entering his office. When he inquired why he was prevented from entering his office, the officer showed him (Narh) a letter which was written to the WESTEC Security office and copied to the security officer on duty not to allow Narh access to his office”, a director of WAMI disclosed.

Several pleas in a petition by Narh in 2009 to leaders of member states of WAMZ concerning the illegal and disgraceful dismissal of Narh received no attention.

This action by Dr. Oshikoya has injected fear into the entire staff of WAMI, thereby making it very difficult to either suggest or challenge his indiscriminate decisions.

Since unveiling the rot at WAMI, Dr. Oshikoya has summoned the entire staff and sternly warned them amidst threats and casting of insinuations against the Ghanaian staff never to give any information to journalist.

Dr Oshikoya is said to be working in cahoots with Adeniyi Karunwi, director of Finance and Administration and Hussein Thomasi, director – legal Department of WAMI who have succeeded in branding Ghanaian workers at the Institute anti-foreigners.
A former director of WAMI said “before the coming of Adeniyi, the director of finance was a lady called Madam Keita from Gambia and the director of Internal Audit was a Nigerian by name Mr.Abass Alhansah. Temitope then reshuffled these two directors”.

“Out of frustration from Dr. Oshikoya, by the end of 2008, the two directors in question left, leaving the swapping of the position in relation to the countries untouched before he recruited Adeniyi as director finance”, the director revealed
Stay tuned for more pillage, maladministration and corruption at WAMI.