GH¢10m Rot Exposed At State Housing

There appears to be another massive misappropriation of public funds at the State Housing Company Limited (SHC) allegedly perpetrated under the erstwhile National Democratic Congress (NDC) government.

This follows the reported stinking rot at the Social Security and National Insurance Trust (SSNIT) purportedly left behind by the former Director-General during the same regime.

An audit, sanctioned by the previous government following allegations of misapplication of public funds, found out that a total of GH¢10 million was lost in revenue during the administration of Samuel Sarpong, the immediate past managing director of the SHC.

His predecessor, Dr Mark Ankrah, is also said to have acted beyond his mandate to use the SHC to guarantee a loan for Proteus Ghana Limited.

Dr Ankrah allegedly committed the SHC to some financial obligations by “signing two procurement contract guarantees on 5th March 2014 with Eoliem Consulting FZE to secure a loan amounting to $2,600,000 for Proteus Ghana Limited, a contractor.”

A 300-page audit report claims that the GH¢10 million was lost in revenue “as a result of valuations not based on market values” of sold properties of the company.

The draft report says the previous management failed to do due diligence in the leasing of four plots of land at North Labone Estate in Accra.

The Internal Audit Agency audit, which started in January 2014 and ended in August 2017, identified three properties numbered 28, 29 and 30 that were offered to Keyport Realty for GH¢830,984 while another property of the company numbered 27 was offered to Gwakunda Engineering Limited for GH¢258,230, making a total of GH¢1,089,214.

The audit maintains that the properties leased to Gwakunda had an average market price of $750,000 (GH¢3 million) but was sold at GH¢258,230, leading to an estimated revenue loss of GH¢2,741,770.

The audit report also points out that three properties leased to Keyport Realty had an average market price of $750,000 (GH¢3 million each) but were sold at GH¢283,037 (an estimated revenue loss of GH¢7.7m), GH¢263,947 (GH¢2.7m estimated revenue loss) and GH¢284,000 (GH¢2.7m estimated loss) respectively.

“A total of GH¢10,910,786 is the estimated loss in revenue as a result of valuations not based on market values of the properties,” the report established.

It observes that SHC has no documented procedures in determining market values of properties before leasing to new lessees.

According to the report, the process of approval for sale, basis of valuation and vetting of bills on which the properties were leased to Keypot Realty and Gwakunda Engineering Limited were not made available to the audit team.

“Management should ensure that a well-documented property valuation procedure is established to determine market values of properties to be leased to new lessees by the company,”the auditors said.

It has also recommended to the new management to “obtain appropriate legal advice on the leasing of the affected property for possible renegotiation of the value to reflect current market price.”

Management, the report said, should also seek legal advice on the “breach of Section 203 of the Companies Code for appropriate legal sanctions to be taken against officers involved in the lease of the affected property.”

Mr Sarpong also went beyond his mandate in the valuation of a piece of land, which was sold to a company for almost half its official price, according to the auditors.

“A parcel of land was undervalued on 6th May, 2016 for issue with a sixty (60)-year lease at a cost of GH¢147,000. (o.21×700,00) to Meyiri Company Limited. The value was vetted and the bill of GH¢147,000 was sent to the client on 17th of May, 2016 for payment. The former MD (Samuel Sarpong), however, subsequently reduced the bill to GH¢75,000 on the 3rd of June, 2016 in a memo dated 27th May, 2016 without any justifiable reason.”

“This unilateral decision by the former managing Director resulted in revenue loss amounting to GH¢72,000 to the company,” the report stated.

The report held that Mr Sarpong “acted in outright disregard of the valuer’s professional advice and against the reviews and recommendations of the Internal Audit Unit and the General Manager, Operations.”

In the case of Dr Ankrah, the draft report noted that there was “neither both formal authorization and approval of the Board of Directors nor the Ministry of Works and Housing for the MD to commit SHC to guarantee the loan.”

The SHC entered into this deal with Proteus Ghana to build a number of houses on SHC lands at Adentan in areas called “Little London” and “Police Lands.”

The investment was intended to be recouped over a period of 60 years, according to the report.

Source: Daily Guide

Show More

312 Comments

  3. buying cialis online usa Physicians should also discuss with patients the increased risk of NAION in individuals who have already experienced NAION in one eye, including whether such individuals could be adversely affected by use of vasodilators such as PDE5 inhibitors see Adverse Reactions 6

  4. Levels typically decrease by 1-2 each year beginning at the age of 40. safest place to buy clomid in the uk une dent dГ©vitalisГ©e peut elle faire mal examen cytologique leucocytes hГґpital de poissy urgence gynГ©cologique le mans thermes dans les vosges quelques cellules Г©pithГ©liales organe ventre gauche leucocytes ecbu.

  41. Having a single bone lesion, rather than multiple bone lesions or additional visceral involvement, seems to be associated with the best outlook for survival clomid But there is a hitch last year the inflation rate was 2

  53. In contrast to the group receiving enclomiphene citrate, men receiving Testim had a reduction in LH and FSH levels and in sperm counts how much lasix can you take The cancer can occur in adenomas close to the duodenal bile flow as discussed earlier or close to the ileo anal anastomosis

  79. It is one of the most powerful legal alternatives to steroids currently available and can help you achieve rapid gains in muscle mass, strength and libido clomid side effects for men Vaginal discharge during pregnancy that is yellow, green, gray, red or frothy could be a sign of infection and may require medical treatment

  97. This mascara is the only one I will ever use, and no one can convince me otherwise. In part because the brush is thin and makes your lashes touch your eyebrows in the most natural of ways, but mainly because it is the only mascara that does not make me look like a raccoon when I attempt to take it off. It stays on all night (smudge- and flake-free!), and comes off in parts when you gently rub your lashes between your fingers using warm water. I’m sure there is a science behind this, but I have no idea what it is, so I will just call it magic. —Faith Brown Clean beauty buffs won’t have to worry with Ere Perez’s Avocado Waterproof Mascara, which is suitable for sensitive skin and eyes. This volumizing formula offers full coverage and 24-hour wear, and it’s also one of the best vegan and cruelty-free mascaras.
    https://eduardoucel232208.popup-blog.com/19474630/feline-mascara
    You can’t go far wrong with any of Mac’s brushes, but this particular one is up their with our favourites. It has the fluffiest synthetic bristles, and the big domed shape is great for picking up different bronzer formulas and blending them into skin. For powder-based bronzers, Dorman says more is more when it comes to choosing the right bronzer brush. “Powder bronzer brushes tend to be quite full and fluffy,” she says. “The bristles are usually not tightly packed.” This is a really lovely brush, especially to use with the cream bronzer. It’s definitely soft on the skin, and picks up product easily and without a mess. I like how easily it buffed the bronzer into my skin without looking streaky. Gifted by Rose Inc Before we dive into the products, let’s start out with the basics. First, as with a drugstore bronzer, know that a higher price tag doesn’t necessarily warrant a better-quality bronzer brush. Next, you’ll need to figure out what type of bronzer brush you need, based on the formula that you choose to use. Odds are, if you’re a powder bronzer fan, you’ll have something that you can use to apply bronzer in your collection already. 

  102. As you can see from my “before,” I actually had quite a few areas of uneven color, especially on the borders of my lips. I also have little freckles on/near them. While there’s nothing wrong with that, it was cool to see a straighter line and more even color. Also…I am just now noticing that I have that little sort of hole in my middle lip in the before and after. (Not a hole, but, like, a place where my upper lip comes up more and leaves a bit of a hole when my mouth is closed.) And I think it’s kind of cute?!? Honestly, I feel like this whole thing actually made me appreciate my lips a lot more.  A cost-effective way to prevent hair breakage and any unwanted frizz while you sleep. I liked how Nyx was a gray character. She’s flawed. And she knew it and embraced it. She hated her family and it’s normal to not like them considering how she was raised. I understand her controversy because it’s still her family she can’t help loving them but a the same time hating them for giving her sister everything and sealing her own fate to death.
    http://w937480o.bget.ru/user/l3koatj826
    Face icing: is this the secret to great-looking skin? Facial massage and assisted stretching/exercises have been shown to remove muscular adhesions, which leads to the lengthening of the tight tissue. Lengthened muscles lead to improved mobility, which strengthens the muscles that were weakened by the initially adhesed muscle. EMS by PureLift™ is the premier non-invasive facial elevation and sculpting tool on the market. Only PureLift uses patented electrical impulses for facial toning, giving you the appearance of a fuller, more youthful face in just 10 minutes. Popular picks include the flat stone gua sha, which is a Chinese massage tool designed to stimulate soft tissue circulation and increase blood flow. Others cover rollers, wands and even vibrating facial massagers. They’re made from various materials, including amethyst, jade and zinc, for additional wellbeing benefits.

  103. When you’re looking for a car that’s tried and tested, you’ll be hard-pressed to find anything in Washington DC and Fairfax with the same level of trust as the Honda Civic. While the used Honda Civic models on our lot may look small from the outside, they feel incredibly spacious on the inside. Both rows have plenty of headroom and legroom for you and your passengers. Plus, the seats are cushioned yet supportive enough to keep you planted when you’re taking turns and pushing the pedal to the floor. You’ll also find used Honda Civic models on our lot with luxury add-ons for an added touch of style and comfort on your travels. The 2023 Civic is named in Car and Driver’s 10Best Cars list. Mathews Honda of Paris invites drivers from nearby Bonham, Texas, to shop our selection of new Honda Civic models for sale. You can get started on your new car search right here on our website. Along with our inventory of new Civic models, you can browse our complete inventory of new Honda cars, trucks, SUVs, crossovers, and minivans for sale. When you’re ready to get behind the wheel, we’re easy to find in Paris, Texas. Join us soon for a test drive and tour.
    http://www.wooritoubang.com/bbs/board.php?bo_table=free&wr_id=316970
    The Curtiss One has the elements of a classic cruiser — low seat, long reach, the look of a beast — yet its electric elements allow for an idiosyncratic, new interpretation of what a motorcycle can be. The Curtiss One looks like it belongs in a Batman film — all noir, art-deco metal arches splaying out in an homage to humanity’s creativity, recalling a time before efficiency ruled the day. Electric House, Unit 1, Hall Farm, Church Road, Diss IP22 1RJ Our motorcycles are carefully handcrafted with a strong focus on quality and durability. From bolts to tires every motorcycle is manufactured by hand at our factory in Munich, Germany. Yes, Himiway Cruiser is the all terrain electric bike which can be ridden in the jungle, forest, beaches, snows, hills, etc. And we do have some videos to present the performance in 5 different cycling conditions.

  106. Помимо этого, в приборе есть Режим Free Program. Он позволяет самостоятельно комбинировать функции прибора для достижения наилучшего персонального результата. На весь комплекс лифтинг-процедур вы потратите не более 10-15 минут в день. Рекомендуется минимально совершать от 3 до 5 движений по каждой линии. Время сеанса должно находится в интервале от 5 до 10 минут. Массажер лучше использовать каждый день или через день. Морщинки при этом будут заметно разглаживаться, а кожа лица будет находиться в заметном тонусе. Возможно, вас заинтересуют наши акции Питание. Современные массажеры питаются от электросети или батареек. Для домашнего использования подойдет первый вариант, а вот для применения устройства в поездках лучше рассматривать второй. Вибрационный массажер для лица с гальванотерапией получает заслуженные позитивные отзывы за свою эффективность. Он улучшает кровоснабжение, подтягивает кожу, убирает морщины и выравнивает цвет. Ограничений по типу покровов тут нет, но противопоказаний немало: недуги с нарушением сердечного ритма, травмы кожи, беременность, воспаления и т.д. Приобрести массажер можно за 1600 руб.
    http://www.girlscolor.com/bbs/board.php?bo_table=free&wr_id=23933
    Теперь рассмотрим вопрос, как закрасить седину без вреда для волос с помощью народной косметологии. Ниже приведем для вас несколько рецептов, которые могут справиться с данной задачей. Выбирая тушь для волос, также посмотрите на форму и размер кисточки. Производители туши выпускают различные варианты кисточек или щеточек, специально предназначенных для наибольшего удобства использования на прямых или вьющихся, длинных волосах или короткой стрижке. В последнее время многие мужчины сталкиваются с тем, что в висках и бороде рано появляется седина. Наследственные факторы, сбои в работе организма и плохая экология могут стать причиной появления безпигментных локонов у мужчин уже в 25 – 30 лет. В такой ситуации можно воспользоваться средством для тонирования мужской седины, которое будет смотреться естественно.

  164. The most common type of poker game played in a casino is Texas hold’em. Almost every casino will offer a limit hold’em and no limit hold’em game as cash games. Some may even host poker tournaments. There are many variations of poker online, including Omaha – a poker game like Texas hold’em – and Razz. However, you are advised to concentrate on just one variation initially. Although Texas Hold’em is by far the most popular poker game, and arguably the most readily available form of poker online, there are some other types of Hold’em poker that you should be aware of. You can download several Android and iOS apps that let you play online poker for free. Plus, many of the world’s most popular online poker operators let you download their software and play with play money.
    https://yourweb.kr/sj5064/bbs/board.php?bo_table=free&wr_id=50574
    Slotomania™ Slots Casino: Slot Machine Games is on the top of the list of Casino category apps on Google Playstore. It has got really good rating points and reviews. Currently, Slotomania™ Slots Casino: Slot Machine Games for Windows has got over 50,000,000+ Game installations and 4.4 star average user aggregate rating points. Huge Win Slots！Casino Games Huge Win Slots！Casino Games So even if the official version of Slotomania™ Slots Casino: Slot Machine Games for PC not available, you can still use it with the help of Emulators. Here in this article, we are gonna present to you two of the popular Android emulators to use Slotomania™ Slots Casino: Slot Machine Games on PC. Slotomania is designed to bring a slot machine experience to mobile and it does a great job at it. The user experience is well-polished and the game’s flow is simple to follow.

  180. Download and Install Files by GoogleThe first step is to download the Files by Google app. Terms of Service Poker by Zynga makes the game accessible to players of all experience levels. The app is free, and as long as you’re patient and careful, you won’t have to spend much real money to keep your run alive. In Zynga Poker, the rules are similar to Texas Hold’em, which means that you have four rounds of betting and four community cards.The player with the best hand at the end of the fourth round wins the pot.It’s important to remember that Zynga Poker is a game of skill and luck.While luck plays a role in the cards you’re dealt, you can use your skills to bluff and read other players’ hands, which can be crucial to winning the game. Eventually, competition against real players becomes the natural next step.That’s where Zynga Poker comes in.One of the biggest multiplayer poker games online, Zynga Poker allows you to play against other players from all over the world.But before you dive into the world of online poker, there are a few things you should keep in mind.
    https://jualkavlingbogor.com/lebih-banyak-situs-poker-online-dengan-uang-nyata/
    Of course, once you use a no deposit bonus, there’s nothing that says you have to continue playing at that site. So, no deposit bonuses can be utilised to see what an online poker room looks like and how it operates. Yet, there are some platforms that unite the no deposit bonus with a stunning online poker site as well, so deciding between them is not specifically an easy task. Lawmakers did introduce legislation in 2022 to legalize online casino gaming as well as online poker in New York. Those bills, however, did not gain much traction. Now, Assemb. Gary Pretlow has reintroduced a bill to legalize NY online poker for the 2023 session. The proposal would amend state law to redefine poker as a game of skill as opposed to gambling, which would clear the way for potential legalization. The no deposit bonuses allow you to play your favorite poker game without risking your bankroll. Getting a poker no deposit bonus USA is simple, and in most cases, all you need to do is sign up, enter the no deposit code, and the money will be directly credited to your account.

  199. Sportaza Casinò offre una vasta gamma di giochi e di scelta agli utenti, tra cui slot machine, Baccarat, Roulette, video poker e video slots, poker, blackjack, giochi da tavolo e tanto altro ancora. Parlando delle offerte elargite da questa piattaforma, il bonus benvenuto di Sportaza Casinò ammonta al 100% sul primo deposito fino a 500€, più 200 giri gratis. Oltre al bonus benvenuto, Sportaza Casinò mette in palio anche promozioni settimanali, tornei e offerte che vengono generate giornalmente o mensilmente. Ti offriamo un’ampia selezione di slot sul nostro sito sono disponibili almeno 7.780 titoli. È continuamente aggiornata con le ultime, fantastiche slot dei produttori di software leader di settore, incluse le più popolari in Italia. Siamo sicuri di offrirti un’ampia varietà di temi e di tipologie, dalle più classiche a quelle 3D.
    http://xn--2e0bl1sv1c2v1a.kr/bbs/board.php?bo_table=free&wr_id=6190
    Get the real-time experience and take a seat opposite our live dealers. Whether you choose the Roulette table, a card game or any of our other table games, you’ll get the best online Live Casino experience available. Senza deposito: Nessuna PromoCon deposito: Bonus del 100% fino a €1000 +5€ in Tickets +25 Free Spin Ecco l’elenco completo di collegamenti ai giri gratuiti giornalieri, così puoi riscattarli in qualsiasi momento per 25 o 50 giri gratis. L’elenco viene aggiornato più volte al giorno, quindi vieni a trovarci ogni 3 ore per vedere nuovi giri gratuiti per Coin Master: En Coin Master abbiamo diversi modi per ottenere giri gratuiti, e uno di questi è attraverso una serie di collegamenti o collegamenti giornalieri, in cui il gioco stesso ci premia giri gratuiti, giri e monete ogni giorno.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button