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Business News of Thursday, 6 September 2018


Power struggle and machinations deepen at BOST as plots emerge for dissolution of board has unraveled what appears to be a power struggle within the Bulk Oil Storage and Transportation Company (BOST) with pressure being mounted on President Nana Addo Dankwa Akufo-Addo to dissolve the current board.

It is gathered that the target which initially was John Kojo Arkoful, Head of Finance has now roped in the current Managing Director George Mensah Okley and the entire Board of BOST with intense pressure to have all these top brass fired.

Some unnamed persons who hitherto the assumption of office of the current New Patriotic Party (NPP) administration were eying their positions, feel this is an opportune time for them to engage in what could pass for an image-smearing campaign to have them removed.

The situation is likely to incur more judgement debts for the company as persons the company is indebted to may be heading back to the courts over delayed payments and accrued interests, inside sources disclosed to

According to them, the board has particularly been targeted in the turf war because members appear to be on the side of the current Managing Director in order to avert further payments of judgement debts which appear to draw back the fortunes of the company.

Though the board of directors are yet to issue a press release on this matter, these faceless characters are not comfortable with the decision of the board to support the truth insisting Mr George Okley has done absolutely nothing wrong in this transaction as the facts speaks for itself.

Questions have also been raised about how certain legal documents which were supposed to be confidential have found their way into the media lending credence to the suspicion that some persons are on a destruction path in the pursuit of their parochial interests.

Whereas concerns have been raised about whether or not Springfield Energy deserves a huge amount of USD 3 million equivalent to GHS 14.4 million from BOST by some persons within, there is another deliberate attempt to run down Executive Director of the State Enterprise Commission they claim has no business sitting in the Boardroom to control the board meeting.

Fears are however rife the situation could spark tension as there also seem to be sustained efforts to incite employees against management which could grind the operations of the company to a halt.