Gov’t Orders Forensic Audit of 1D1F After GH¢10.5m Fake Account and GH¢89.4m Fictitious Debt Claims

By: Paakhwesi Faith

Gov’t Orders Forensic Audit of 1D1F After GH¢10.5m Fake Account and GH¢89.4m Fictitious Debt Claims

The Government of Ghana has launched a forensic audit into the One District One Factory (1D1F) initiative following revelations of major financial irregularities, including a GH¢10.5 million suspicious payment and a GH¢89.4 million fictitious debt claim.

The Ministry of Finance says the audit is intended to ensure accountability and prevent misuse of public funds under the programme.

Deputy Finance Minister Thomas Nyarko Ampem told Parliament on Tuesday, March 10, that auditors uncovered a GH¢10.5 million payment supposedly sent to a “buffer account” at a commercial bank. Upon verification, the bank confirmed that the account did not exist and the payment was never received.

“A payment of GH¢10.5 million was recorded as having been made into an account described as a ‘buffer account’ at a commercial bank. Upon verification, the bank confirmed that it had never received such payment,” Mr. Ampem said.

“The account number cited did not exist in the bank’s records and did not even conform to its account numbering format. The evidence from the audit therefore points to a completely fictitious account.”

In addition, auditors found that the government was asked to pay GH¢89.4 million to five banks under the 1D1F interest subsidy scheme. However, the banks denied being owed any money, revealing the claim as entirely fictitious.

The Deputy Minister warned that public officials, regardless of rank, will face consequences if found to have falsified records or colluded with contractors.

The Ministry of Finance described the forensic audit as a decisive step toward greater transparency, part of a broader accountability drive under President John Dramani Mahama, who has pledged swift and visible action to prevent financial misconduct.

Source: Locotvgh