Business News of Tuesday, 10 March 2026
Source: www.ghanaweb.com
A recent audit of government [Ministry of Finance] arrears has exposed fraudulent claims and fictitious accounts that could have cost the Ghanaian taxpayer hundreds of millions of cedis.
Among the most glaring findings, GH¢89.4 million submitted under the One District, One Factory (1D1F) initiative was deemed fictitious after auditors contacted the banks involved and discovered that no liabilities existed.
Similarly, overpayments under the Farmer Food Relief and Recovery Programme totaled GH¢61.7 million for the transportation of maize and rice that was only partially delivered.
The audit also identified GH¢4.4 billion in recycled Interim Payment Certificates (IPCs) and invoices submitted multiple times for payment across ministries, including GH¢3.6 billion in the Ministry of Roads and Highways and GH¢384.8 million in the Ministry of Health.
MoF uncovers GH¢68.7 billion in suspicious arrears
Additional unsupported Bank Transfer Advices worth GH¢293 million were linked to six ministries, including GH¢241.2 million in the Ministry of Gender, Children and Social Protection.
“This audit has exposed a rotten system designed to fleece the people of Ghana. We refuse to normalise waste, and we refuse to ask the Ghanaian people to pay for fraud.”
Deputy Minister of Finance Thomas Nyarko Ampem said this on March 10, 2026, when presenting the statement in Parliament on behalf of Finance Minister Dr Cassiel Ato Forson.
Other examples include teacher trainee allowances totaling GH¢160 million that were reported as unpaid, only for auditors to confirm that no arrears existed, and falsified stores receipt advices for goods and vehicles that were never delivered.
Meanwhile, the government has vowed to restore discipline in public financial management, ensuring that taxpayers’ money is protected and that government systems are transparent, verifiable, and accountable.

