The executive board of the nation’s central treasury, the Bank of Ghana (BoG), has issued a statement vehemently denying that it has initialed a contract with a Swiss watch manufacturer worth $504,000 to supply the BoG with gold-plated wrist-watches worth some $7,000, apiece, which the bank intends to present as gifts to some retiring employees … Read more
Financial Analyst, Sydney Casley has strongly defended the Bank of Ghana’s [BoG] decision to spend US$504,000 on gold watches to reward retiring staff. Some documents sighted in some media reports during the week indicated that on July 22, 2016, the Central Bank sent a request to the Public Procurement Authority (PPA) to sole source the … Read more
The weak leadership of President John Mahama is to blame for the excessive and extravagant use of state funds by public officials, Abuakwa South MP says. Samuel Atta Akyea portrays the governing National Democratic Congress (NDC) as lax on rooting out profligate spending and corruption in the country. Contributing to discussions on the Joy FM/MultiTV’s … Read more
The Central Bank of Ghana has denied publications that the authorities have signed a contract with a Swiss company to supply it with gold watches to be given as ex gratia to some workers who are due for retirement. According to the Head of Public Relations for the Bank of Ghana, Bernard Otabil, the Bank … Read more
The Central Bank of Ghana has insisted that it has not signed a contract with a Swiss company to supply it with gold watches to be given as ex gratia to some workers who are due for retirement. Onua FM’s source at the central bank said contrary to media reports that the watches have been … Read more
The Central Bank of Ghana has insisted that it has not signed a contract with a Swiss company to supply it with gold watches to be given as ex gratia to some workers who are due for retirement. Onua FM’s source at the central bank said contrary to media reports that the watches have been … Read more
The Bank of Ghana (BoG) has reacted to media reports that it spent $504,000 on gold watches for its staff as end of service benefit. According to the media reports, the BoG spent $504,000 which is equivalent to GH¢2 million to purchase “24 pieces of 18-carat ladies’ gold watches and 48 pieces of gents gold … Read more
The Bank of Ghana is yet to pay for the 72 Gold watches it intends purchasing for its retiring staff, sources at the bank have told StarrFMonline.com. The Central Bank is also yet to sign a contract for the supply of the luxurious watches even though it has singled out a contractor for the transaction. … Read more
The Ghana Integrity Initiative (GII) has questioned the justification by the Bank of Ghana to sole source the procurement of gold watches for their retiring staff. GII is of the view that an open tender would have been the best option. Some documents sighted in some media reports indicated that on July 22, 2016, the … Read more
The immediate Chairman of the Public Accounts Committee and former Member of Parliament for Afigya-Sekyere West constituency in the Ashanti Region has questioned the decision by the authorities at the Central Bank to spend hooping US$504,000 on gold watches as a retirement benefit to some workers of the National Bank. Mr. Albert Kan Dapaah said … Read more
A former Deputy Governor of the Bank of Ghana (BoG), Emmanuel Asiedu Mantey has put up a stern defense of the Central Bank’s decision to spend a staggering GH?2million to purchase gold watches for its retiring staff. According to him, public outcry that the money being used to purchase the watches is tax payer’s money … Read more
The former Managing Director and Chief Executive Officer of Amalgamated Bank Limited, (now Bank of Africa) Mr. Menson Torkornoo has slammed the Bank of Ghana for its decision to purchase 72 gold watches for some retiring staff. BoG on Wednesday confirmed a Starrfmonline.com exposé that it was spending a whopping €450,000 – an equivalent of … Read more
The New Patriotic Party (NPP) Member of Parliament (MP) for Effutu Constituency says the decision by the Bank of Ghana to purchase gold watches for its workers is in bad taste. Alexander Afenyo Markins says workers of the Central Bank are living comfortable lives because of the prevailing working conditions at the bank. They do … Read more
The Bank of Ghana (BoG) has denied claims it engaged in frivolous spending following reports that it blew US$504,000 on gold watches explaining that the expenditure is part of its policy. The BoG in a statement also assured that no procurement rules were breached in presenting sole sourcing justification to the Public Procurement Authority (PPA) … Read more
The Bank of Ghana has attempted to justify why it spent an amount of $504,000 on Gold watches for some staff of the company as end of service benefits. According to the bank this was meant to show appreciation to deserving staff who had served for well over 30 years in the company. The bank … Read more
The Bank of Ghana is spending a whopping €450,000 – an equivalent of Gh¢2 million – on gold watches for retiring staff. According to BoG documents in possession of Starrfmonline.com, 72 staff who have served for 30 years and beyond are benefiting from the entitlement. The watches which are being bought from Messrs A Swiss … Read more
The Ministry of Trade and Industry is considering enacting legislation that will make it mandatory for public institutions to procure made-in-Ghana goods and services. The move is to ensure that public institutions do not procure foreign goods when there are Made-in-Ghana goods and services over which the country has a competitive advantage in production. The … Read more