Majority calls for forensic audit on BOST

Christopher Arko, GNA

Accra, June 30, GNA –
The Majority Caucus in Parliament has called for full scale investigation and
forensic audit into the activities of the Bulk Oil Storage Transportation
(BOST) from 2009.

It said the press
conference by the Minority was to throw dust into the eyes of the public and to
cover-up the massive rot at BOST which occurred under the National Democratic
Congress (NDC) Administration and Mr Kwame Awuah Darko, the former Chief
Executive Officer.

Mr Emmanuel Akwasi
Gyamfi, the Chairman of the Energy Committee, said this at a press conference
organised by the Majority New Patriotic Party (NPP) in reaction to the
Minority’s conference on the recent five million litres of contaminated fuel at

The Minority NDC on
Tuesday organised a press conference and accused Mr Alfred Obeng Boateng, the
Chief Executive of BOST, to have, among other things, done business with two
unlicensed companies of MOVENIINA and ZUPP Oil.

The Minority said
the five million litres of contaminated fuel should have been processed to
restore it to good use instead of selling it off.

They also accused
him of causing financial loss to the state which they estimated at GH¢ 14.2

Mr Gyamfi also
refuted the Minority’s allegation that MOVENIINA bought the product at GH¢ 1.00
and sold at GH¢ 1.30 to ZUPP Oil adding; “MOVENIINA indeed bought the
contaminated product at GH¢ 1.30 and then sold at GH¢ 1.32 and made a marginal
profit of GH¢ 100,000”.

He said between 2014
and 2016 when the contamination of fuel products escalated, the average price
that the product was sold was 70 pesewas per litre as the price ranged from 50
pesewas to 90 pesewas.

Mr Gyamfi said the
sales price of the recent contaminated product at GH¢ 1.30 was 86 per cent
higher than what was obtained in the past and the highest value the nation had
ever earned. BOST sells its good-spec at a price of GH¢ 1.75 per litre.

Mr Gyamfi also
debunked the Minority’s claim that under no circumstance should BOST experience
such levels of contamination as being witnessed.

He said under the
NDC similar contaminations occurred in 2014, 2015 and 2016 and the quantities
involved were 4.6 million litres, 9.9 million litres and 12 million litres

He said the Minority’s
allegation that the contamination had to do with the inefficiencies and
negligence of Mr Boateng was not true because the five million litre was
detected on January 18, 2017 when Mr Awuah Darko was still the Chief Executive
of BOST.

Mr Gyamfi said on
July 22, 2014 BOST, under Mr Awuah Darko, engaged Messrs Merson Capital Limited
as financial consultant on its projects with the responsibility for financial
evaluation and assisting in negotiating with financiers.

He said for this
assistance Merson Capital was to be paid $50,000 per month for 36 months and if
through its instrumentality any financier came on board Merson Capital was
entitled to one percent of the total capital raised.

Mr Gyamfi said under
Mr Awuah Darko, BOST rented a property at Airport Residential Area and for more
than two years after BOST had vacated the premises they kept the key and kept
paying rent amounting to $310,000 in June 2016.

He said BOST engaged
Messrs ROLIDER Limited for a turnkey design, build and finance for their
headquarters building at a cost of $39 million exclusive of VAT.

According to experts
the headquarters could have been built at a cost of $19 million saving the
nation $20 million of the taxpayer’s money.

He said since 2015
BOST, under guise of Security Transfer, had transferred unexplained amounts of
between GH¢ 2.5 million to GH¢ 3.5 million on bi-monthly basis to the Office of
the then President and the then Chief of Staff, the last amount being GHC three
million which was transferred on January 3, 2017.


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