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PRESS RELEASE: Implementation of COVID-19 National Trust Fund Pledges

As part of Government efforts to deal with the COVID-19 pandemic, His Excellency the President, Nana Addo Dankwa Akufo-Addo set up the COVID-19 National Trust Fund and pledged his three (3) months salary starting from April 2020 to be paid into the Fund. His Excellency the Vice President, Alhaji Dr. Mahamudu Bawumia has also pledged his three (3) months’ salary for the Fund.

To further strengthen the coffers of the Fund, the Chief of Staff, all Ministers of State, and other Government Appointees have also pledged 50% of their three (3) months’ salary, starting from April 2020 to the Fund.

The Controller and Accountant-General wishes to inform the general public that these directives have been implemented and the results will reflect after April 2020 Payroll Run.

The status of implementation of other directives are as follows:

  • Three (3) months tax relief for all health workers has been effected. This will reflect in each of the three months’ (April, May and June 2020) Payroll.
  • On the 50% of basic salary as allowance for frontline health workers for the next three months, the Department has engaged the Ministry of Health on the modalities for effecting the payment.

The Department further wishes to assure all Pensioners and Government workers that, despite the partial lockdown, adequate measures have been put in place to ensure that pensions and salaries for the month of April 2020 are paid as scheduled.

KWASI KWANNING- BOSOMPEM

AG. CONTROLLER AND ACCOUNTANT GENERAL


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PRESS RELEASE: No CAGD Staff Quarantined

It has come to the notice of Management of the Controller and Accountant General’s Department (CAGD), a news item circulating on social media about a staff who has been quarantined upon arrival from Italy.

Management wishes to state that no such incident has occurred at the Head Office and all CAGD Regional Offices and that the general public should disregard this information.

Management also wishes to state categorically that, preparations for the payment of March salaries is on course and Government workers will receive their salaries on the scheduled pay date.

KWASI KWANNING- BOSOMPEM

AG. CONTROLLER AND ACCOUNTANT GENERAL


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acting_CAG_opening_address

The Controller and Accountant General’s Department (CAGD) Officially Opened its 2020 Annual Conference in Takoradi

The two-day conference, which is on the theme, “Ghana Beyond Aid Agenda: The Role of the Public Sector Accountant” will be used to deliberate on how public sector accountants could contribute to achieving the Ghana Beyond Aid Agenda.

It would also be used to sensitize participants to the Public Financial Management (PFM) Act, Act 921, which was passed into law by Parliament to ensure effective fiscal discipline in the management of public resources and promote transparency and accountability.

A total of 425 delegates, comprising Heads of Account at the various Ministries, Departments and Agencies (MDAs), Regional Directors of CAGD, Finance Officers at the various Metropolitan, Municipal and District Assemblies (MMDAs), and Regional Coordinating Councils (RCCs) are attending.

Also in attendance are a number of dignitaries from both the private and public sectors, including; seasoned accountants and financial management experts whose activities had a bearing on the operations of the CAGD.

Among the topics to be discussed include; consequences of audit infractions, pension planning (Tier 2 and 3 Pension Schemes), and corporate governance: reforms in Ghana public sector, and fraud, forensic accounting, and forensic auditing.

Mr. Kwabena Okyere Darko-Mensah, Western Regional Minister in his welcoming address, noted that as public sector accountants, they had a duty to the public not only to receive, disburse and account for public funds, but to also guide the MMDAs and MDAs on “how to make money”.

He indicated that the role of today’s public sector accountant was not limited to the efficient use of public funds, but wealth creation through innovative means and challenged them to lead in the crusade for wealth creation and improved service delivery as their identifiable contribution to the Ghana Beyond Aid agenda.

Controller And Accountant General Withholds Salaries Of 1,975 Public Servants

The Controller and Accountant General’s Department (CAGD) has withheld the salaries of some Public servants who have been affected by the closure of three banks recently.

It is estimated that 1,975 public servants on the government payroll accessed their salaries through the GN Bank, First Allied Savings and Loans Co Ltd and Women’s World Banking Savings and Loans Co. Ltd which were among the 23 financial institutions that were closed down by the Bank of Ghana on August 16.

GN Savings and Loans Ltd holds the accounts of 1,950 public servants while First Allied Savings and Loans Co. Ltd and Women’s World Banking Savings and Loans Co. Ltd hold the accounts of five and 20 public servants respectively.

In advising the affected workers, the CADG has also asked that the workers furnish the department with their new account numbers as soon as possible to facilitate the payment of their salaries.

In an interview with the Daily Graphic, the Controller and Accountant-General, Mr K. K. Bosompem, said his outfit was holding the August 2019 salaries of the affected workers until the new accounts were submitted as advised.

“Subsequent to the revocation of the licences of some savings and loans companies and finance house holdings by the Bank of Ghana, through which some public servants are paid, our department advised affected employees to open new bank accounts with the bank of their choice and submit the new account details to their respective MDAs for capture,” Mr Bosompem said.

“The MDAs would in turn submit the new account information received from the affected staff to the Payroll Processing Division of the CAGD for loading onto the payroll system to enable the employees to access their accounts.

“Again, we are urging all third-party institutions affected by the BoG measures also to submit their new bank details to the CAGD for the payment of deductions held on their behalf by the department,” Mr Bosompem said.

Mr. Bosompem apologized for any inconveniences the new directive might cause but indicated it was meant to safeguard the income of affected employees.

He said a circular would be sent to all MDAs and heads of departments to take the necessary steps to ensure the affected workers were paid on time.

Licence Revocation

The Bank of Ghana, BoG has revoked the licences of twenty-three (23) insolvent savings and loans companies and finance house companies.

The central bank in a statement said the revocation of the licences of these institutions has become necessary because they are insolvent even after a reasonable period within which the Bank of Ghana had engaged with them in the hope that they would be recapitalized by their shareholders to return them to solvency.”

“It is the Bank of Ghana’s assessment that these institutions have no reasonable prospects of recovery, and that their continued existence poses severe risks to the stability of the financial system and to the interests of their depositors,” the statement added.

BoG in the statement explained that the actions “were taken pursuant to Section 123 (1) of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930), which requires the Bank of Ghana to revoke the licence of a Bank or Specialised Deposit-Taking Institution (SDI) where the Bank of Ghana determines that the institution is insolvent. The Bank of Ghana has also appointed Mr Eric Nipah as a Receiver for the specified institutions in line with section 123 (2) of Act 930.”

Some of the affected companies include: GN Savings and Loans Ltd, Ideal Finance Ltd, Unicredit Savings and Loans Ltd, Global Access Savings and Loans Company Ltd, Accent Financial Services Ltd, Midland Savings and Loans Company Ltd, First Allied Savings and Loans Co. Ltd