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General News of Tuesday, 28 August 2018

Source: Myjoyonline.com

GNPC buys $7.5m property from CEO's former company

Chief Executive Officer of GNPC, Dr K. K. Sarpong

Documents available to Joy FM indicate the Chief Executive of Ghana National Petroleum Corporation (GNPC) last year ordered an urgent transfer of $7.5 million to a company he once worked for.

The amount was a 6-block residential apartment purchased from Global Haulage for which Dr KK Sarpong once acted as Chief Executive.

Dr. Sarpong ordered the 'urgent' transfer of the funds to Global Haulage Company Limited in a memo intercepted by Joy News.

In the intercepted memo dated December 29, 2017, the GNPC CEO directed the Chief Finance Officer to make a payment of $7.5 million to Global Haulage Company Limited without delay.

Dr Sarpong said these in the memo, published below.

“I can confirm that we have executed the underlying sale and purchase agreement with the seller. The documents are in the custody of our legal officer, Ms Ama Awuah Kyeremateng who unfortunately is presently out of town to give them to support the payment

“I am by this memo authorising you to effect the payment to Global Haulage Company Limited, the vendor instantly as per their invoice attached.”

“Suffice it to note that a thorough post audit of the transaction can be done once full office work resumes on 8th January, 2018.”



The property, according to the documents, is located at Chapel Hills in Takoradi in the Western Region and comes with ancillary properties.

The CEO, in the memo, also stated that he takes full responsibility for the transaction which was carried out in December 2017.

The finance officer wired the funds to the accounts of Global Haulage Company that same day.



Furthermore, on January 3, 2018, a second payment of $2 million was made to the same company to bring the total payment advanced for the same six-block residential property to $9.5million.

Meanwhile, Dr Sarpong stated Tuesday on Joy FM's Super Morning Show that the property has indeed been purchased, but explained that the property has between 18 to 21 buildings in a gated community and not 6-blocks as stated in the memo.