How the Board "chopped" while VRA sank into debt

DESPITE clear evidence of the mounting huge debt profile of the Volta River Authority inching towards the one trillion cedi mark, CHRONICLE can confirm that most of the board members gobbled up incredible perks and even received bonuses.

In addition, Dr. Jones Ofori-Atta, the board chairman, led the chorus of the fat cat board in enjoying subsidies for water, electricity, monthly allowances and first class expense paid overseas trips of doubtful relevance.

Documents sighted by Chronicle showed that board members received an average of ?9.2 million per person, amounting to ?72 million for year-end 2002 in bonuses, when the Authority was in financial crisis.

Other documents labeled ‘VRA BOARD electricity subsidy’ indicated that board members, like Mr. Appiah Menka, a successful businessman, each averaged ?575,000 a month Water subsidy.

Chronicle investigations indicated that two board members refused to take the bonus cheque payments, and another, Mr. Whelton, the VALCO representative on the VRA, never collected any of the ‘subsidies’ and perks.

Dr. Ofori-Atta, however, made overseas trips and enjoyed protocol services both in Ghana and at the destination.
Some of the trips are of debatable consequence and impact to the core business of VRA, like the 41-day investment trip in the company of the Okyenhene for which Dr. Ofori-Atta collected a cool $5,865.00 dollars.
The trip was authorized by the VRA Chief Execitive in a memo dated June 4th 2002.

“The Board Chairman Dr. Jones Ofori Atta has been requested by the Okyehene to join a delegation from Okyeman to undertake an investment to the USA…

“….I have agreed that VRA supports the participation of the Board Chairman…..

He is expected to stop over in London to meet with the authority’s legal representatives for consultations on the West Africa Gas Pipeline Project and related issues…” Signed Charles Wereko-Brobby(Dr.).

Prior to that in March 2002, Dr. Ofori-Atta also went to the UK with the authorization of Wereko-Brobby to “hold discussions with officials of the electricity Regulatory agencies in that country.”

”You are requested to arrange for the necessary financial support to facilitate the visit. You are to liaise with the Director of Public Affairs to procure travel ticket ON BRITISH AIRWAYS and to provide protocol services both at the point of his departure from Ghana and on his arrival at the United Kingdom.” Sgd, Wereko-Brobby.

On January 31st 2002, again Dr. Ofori-Atta took off for a London trip fully sanctioned by the CEO.

Other information in the custody of Chronicle Intelligence of significant national and public interest shows that some of the board members engaged in business with the Authority, contrary to the companies code and code of conduct of public office holders.

This actuated Chronicle’s crusade for accountability and due process in the face of appeals from VRA to members of the public to tighten their belt and Government assiduously pursues international investors and institutions to help VRA in their dire straits.
There is clear compelling evidence that a company called Dawuro Communications owned by the VRA chief executive and his brother, Tom Wereko-Brobby, did business with VRA, in violation of the code.
There was no evidence that the board authorized the transactions with Wereko-Brobby’s company.
Kofi Coomson, Chronicle’s absentee publisher was in court last week to assist in a gagging order application filed by the VRA and its CEO from publishing what they described as ‘seemingly disparaging’ articles.
A court presided over by Mrs. Agnes Dordzie had struck out a previous application for restraining order initiated by Messrs Kofi Aboagye, representing the Authority.

However, on Monday the application did not come on and Kofi Coomson, accompanied by the paper’s counsel, went away, disappointed.

Wereko-Brobby has launched multiple legal actions against Chronicle, demanding a total of ?2 billion, reminiscent of the Tsatsu Tsikata duels with Chronicle.

Kofi says he will demonstrate that all Wereko-Brobby’s private businesses failed under his thumb – newspaper, nightclub, ..and the only one that seems to be doing well is the one which is doing business with VRA.

He will also demand evidence of many things. He did not elaborate under the advice of his counsel, who intervened in what may have been a slanging match between Tarzan’s lawyer and him for disparaging advertorial against the Chronicle.