GH¢61bn of public funds locked up in MMDAs, SOEs

The Auditor General's report reveals that GH¢61 billion of state funds are tied up with various companies and institutions in Ghana.

Of this, GH¢57 million is owed by metropolitan, municipal, and district assemblies, while GH¢5.6 billion is owed by state-owned enterprises.

Appearing before Parliament's Public Accounts Committee, the Controller and Accountant General, Kwasi Adjei, stated that a committee has been formed to recover these funds.

The committee will target solvent companies for repayment and recommend writing off debts from insolvent entities to the Ministry of Finance and Parliament.

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