BoG's Missing ?230 Billion What Happened?

In our Nov. 27-Nov 29, 2007 edition, we published unedited a letter dated July 20, 2007, fro m Mr. Richard Denteh, the Vault Manager of the Bank of Ghana, to the Head of the Bank's Human Resource Department complaining about the movement of an amount of over ¢230 billion from the Bank of Ghana Vault without his knowledge and an additional ¢40 billion suppossedly burnt at Kade without his being present at the burning site.

Ghana Palaver investigations have revealed that according to Bank of Ghana regulations and practice, currency destruction must be undertaken in the presence of representatives of certain institutions in the coutnry.

Ghana Palaver wishes to find out from the following institutions which are required to be present at such currency destructions the names of their representatives, if any, who were present at the shredding and burning of the ¢40 billion at Kade:

Auditor-General's Department ;

Controller and Accountant General's Department;

Bank of Ghana's Internal Audit Department

Issue Department of the Bank of Ghana (since the Vault Manager Mr. Richard Denteh was not present at the burning exercise)

Bank of Ghana's Security Department

Banking Department of the Bank of Ghana.

The mystery surrounding the movement of the ¢320 billion and the burning and shredding of the ¢40 billion at Kade msut be unravelled. The deliberate silence of the NPP Government and the Governor of the Bank of Ghana on this issue will not stop the people of Ghana from finding out the truth eventually.

We advise the Bank of Ghana Governor and President Kufuor to clear the air. The rumours are flying around and it does the image of the Bank of Ghana Governor and President Kufuor no good.

For example, is it true that part of the amount was used to fund the NPP flagbearership campaign of a particular candidate? That is one of the rumours that are being “mongered”.

Source: BoG’s Missing ¢230 Billion What Happened?

In our Nov. 27-Nov 29, 2007 edition, we published unedited a letter dated July 20, 2007, fro m Mr. Richard Denteh, the Vault Manager of the Bank of Ghana, to the Head of the Bank's Human Resource Department complaining about the movement of an amount of over ¢230 billion from the Bank of Ghana Vault without his knowledge and an additional ¢40 billion suppossedly burnt at Kade without his being present at the burning site.

Ghana Palaver investigations have revealed that according to Bank of Ghana regulations and practice, currency destruction must be undertaken in the presence of representatives of certain institutions in the coutnry.

Ghana Palaver wishes to find out from the following institutions which are required to be present at such currency destructions the names of their representatives, if any, who were present at the shredding and burning of the ¢40 billion at Kade:

Auditor-General's Department ;

Controller and Accountant General's Department;

Bank of Ghana's Internal Audit Department

Issue Department of the Bank of Ghana (since the Vault Manager Mr. Richard Denteh was not present at the burning exercise)

Bank of Ghana's Security Department

Banking Department of the Bank of Ghana.

The mystery surrounding the movement of the ¢320 billion and the burning and shredding of the ¢40 billion at Kade msut be unravelled. The deliberate silence of the NPP Government and the Governor of the Bank of Ghana on this issue will not stop the people of Ghana from finding out the truth eventually.

We advise the Bank of Ghana Governor and President Kufuor to clear the air. The rumours are flying around and it does the image of the Bank of Ghana Governor and President Kufuor no good.

For example, is it true that part of the amount was used to fund the NPP flagbearership campaign of a particular candidate? That is one of the rumours that are being “mongered”.