BoG charged to produce list of signatories to Sports Ministry’s dollar account
Posted on: 2014-Aug-14        
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A member of the Presidential Commission of Inquiry into Ghana’s participation in the 2014 World Cup in Brazil has requested for a list of signatories to the Sports Ministry's dollar account.

The list, according to Lawyer Moses Foh Amoaning, is to enable the Commission identify persons who withdrew an amount of $3.3 million and $700,000 on two separate occasions from the ministry’s account on June 23, 2014.

Mr. Amoaning was inquiring from Mrs. Elly Ohene-Adu, Head of the Banking Department of the BoG, who appeared at the Commission’s sitting Thursday about transactions that went on between the BoG and the Sports Ministry.

The Commission is investigating the Black Stars' preparation for the mundial in Brazil and their poor show, which led to an early exit.

It would also enquire into matters relating to technical and management of the team by the Ghana Football Association (GFA) officials as well as issues regarding how supporters were sent to the tournament by the Ministry.

BoG’s view on carrying of cash

In response to carrying bulk cash to pay for expenses as witnessed in the Black Stars’ camp in Brazil, Mrs. Ohene-Adu said “for us at Bank of Ghana we always prefer electronically transferring the funds to an account which has been designated. We prefer that.”

Apart from the transfer, she said BoG cheques could also be cashed on accounts with other foreign banks.

But this never happened when the Black Stars players demanded their appearance fees during the world cup.

The Ghana government, during the just ended World Cup in Brazil airlifted $3 million to settle the appearance fees of the aggrieved players, an adventure, which attracted international ridicule for the nation.

Touching on the 2010 World Cup in South Africa, Mrs. Ohene-Adu said the BoG resisted demands by the authorities to pay the players in cash, reason being that the bank does only electronic transfers.


In her closing remarks, she recommended that the ministry starts the processes for the approval of funds early enough in future tournaments to facilitate the early transfers to deserving persons.

The move, she said would ensure that funds were disbursed directly to the players.