How GNPC CEO, board members, other officials increased their allowance by 150% - Ablakwa details

The North Tongu Member of Parliament, Samuel Okudzeto Ablakwa, has disclosed how some officials of the Ghana National Petroleum Corporation (GNPC) doubled their allowances by more than 100%.

Making the revelation on social media platform X (formerly Twitter), Ablakwa shared a memo which stated that the Board of Directors, at a meeting held on August 25, 2022, approved new rates as per diem and hotel allowances for the Board Chairman, Chief Executive, Board Members and External Board Committee.

“Allowances for a day’s hotel rate have increased from 400 to 1000 Dollars, Euros or Pounds depending on where they travel to. Per diem for the Board Chairman has moved from 500 to 850 and from 500 to 700 for the CEO and other board members — also in Dollars, Euros or Pounds as per the travel destination,” the memo read.

Ablakwa, appalled by the above wondered why despite the government asking institutions to be circumspect with their spending due to the economic crisis, some of its officials awarded themselves with more than double their allowances.

“When a government asks everyone to take financial haircuts due to the effects of their economic mismanagement, we don’t expect its officials to be approving for themselves fat increments in allowances.”

“Intercepted memos from GNPC reveal that the Freddie Blay-led board and management have increased their allowances by up to 150% despite Ghana’s economic crisis and contrary to government’s assurances to Parliament of a general pay cut,” Samuel Ablakwa noted.

He also raised the issue of nepotism while calling out the Chief Executive Officer of the GNPC, Opoku Ahweneeh Danquah, for acting in ways he deems to be detrimental to the collective interest of the company and the country. He made further revelations about the desire of the CEO to have his salary doubled.

“It is even more depressing to read other memos requesting that the salary of the CEO be doubled. Angry insiders say the CEO, Mr. Opoku Ahweneeh Danquah who is President Akufo-Addo’s nephew, always gets what he wants.”

He added, “This betrayal of the Ghanaian people and gross insensitivity cannot continue.”

The Ranking Member of the Foreign Affairs Committee said it was time to strictly regulate the “incestuous discretion” of heads of State-Owned Enterprises who decide on their salaries without a nod from parliament.

“I believe it is time to regulate the incestuous discretion of boards and CEOs of State-Owned Enterprises to determine their salaries and allowances without parliamentary approval — particularly when most SOEs are being mismanaged and making huge losses.”

He has vowed to propose a private member’s bill to end this “detrimental practice”.

Read the post by the MP below:

When a government asks everyone to take financial haircuts due to the effects of their economic mismanagement, we don’t expect its officials to be approving for themselves fat increments in allowances.

Intercepted memos from GNPC reveal that the Freddie Blay-led board and… pic.twitter.com/Bhxkh1Kdfr

— Sam Okudzeto Ablakwa (@S_OkudzetoAblak) March 12, 2024