GHC25,000 Missing From Ghana Railway Company’s Account

It has come to the notice of the Auditor General that a whopping amount of GHC 25,000 is missing from the Ghana Railway company Limited account. It was revealed in the Auditor General’s report which covered accounts and operations of the company at the end of December 2009. Simply put, the money has been missing since 2009.

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According to the Auditor General’s report, the company received a total cash amount of GHc3, 422,574.76 at the end of 2009, out of which GHc3, 397,170.47 was sent to the bank leaving a balance of GHc 25,404.29 which could not be traced.

No facts have been drawn as to the whereabouts of the money. The report from the Auditor General’s department also said that the company management has always assured they adhered to the necessary protocol, regarding internal control polices, but in spite of that, the money has not been found. Though investigations are still ongoing, there have been no leads.

This issue of the missing money emerged following the recent strike by the company workers who were  demanding the payment of their salary arrears.

Also, the report stated that the company did not pay certain benefits to the workers leading to a massive statutory debts. The report urged management to look into the respective debts owed by the railway company and equally ensure that the missing sum is recovered.

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Also noted in the report were impeding conditions of most facilities of the company. It was noted that facilities including, buildings and stores, have declined massively and the entire structures are dilapidated without any intervention. Vehicles and many other properties are said to have been left to ruin at the mercy of the weather.

Management was urged to make effort to undertake regular maintenance of the assets to prevent further deterioration of the various facilities and structures. However, the report stated that management comprehended and accepted the observations made but said that the situation came about as a result of weak financial position of the company.

Ghana Railway Company Limited (GRC), is said to be one of the agencies in the country which experiences a lot of financial constraints that impede its growth and efficiency.