Source: newsthemegh.com
Strategic Mobilization Ghana Limited (SML) has been paid GH¢1,061,054,778 for revenue mobilization services between 2018 and the present, according to a comprehensive audit carried out by KPMG.
Eugene Arhin, the President’s Communications Director, revealed the results in a press release today, Wednesday, April 24.
On January 2, 2024, President Nana Addo Dankwa Akufo-Addo ordered an audit of the Ghana Revenue Authority (GRA) and SML contract.
The audit period was originally supposed to expire by January 16, 2024, but because of its complexity, it was extended to February 23, 2024.
The report’s completion was met with rising public demand, which forced the president to publicize the report’s conclusions.
“The total fees paid under the contracts from 2018 to the date of suspension amount to GH¢1,061,054,778. No fee has been paid for the upstream petroleum audit and minerals audit services.”
“The total fees estimated to be paid to SML under the 2023 Contract for five years is GH¢5,173,091,857, which averages to about GH¢1 billion per year.” statement from the Presidency stated.
President Akufo-Addo then approved the recommendation to stop using Strategic Management Limited’s (SML) upstream petroleum and minerals audit services, which had previously been rendered to the GRA.
He gave the Ministry of Finance and the GRA instructions to renegotiate the terms of the contract.