Government is set to open fresh investigations into all contracts awarded by the former management of the Ghana Cocoa Board (COCOBOD) under the leadership of Dr Stephen Opuni, who is already being investigated by the Economic and Organised Crimes Office (EOCO).
Chairman of the newly constituted Board, Hackman Owusu-Agyemang, dropped the hint yesterday after the swearing-in of the new board members.
He assured President Akufo-Addo that “we have our jobs cut out for us and we know with the backing of the president and the brief and remit that he’s given us, we will rise to the occasion.”
Resolve
He indicated that “we will start by reviewing all contracts that has been signed. Just sometime on a cursory look, you’ll see definitely they are completely out of place; we will also go further and make sure that value for money is achieved.”
An obviously unhappy Mr Owusu-Agyemang said, “It cannot be the case that those who produce for us to earn the foreign exchange for us are the ones who are going to be disadvantaged; if it is cocoa roads, with the approval of the presidency and the ministers, it has to benefit cocoa farmers, if its scholarship, it has to benefit proper cocoa wards and not people who live in the cities. It cannot be the case.”
Aside that, he said, “We cannot also live with the situation where for example, the cocoa roads have overrun its budget in excess of GH¢5 billion; we have to operate within the confines of the rules set out by the president and the party and we have to get the COCOBOD staff with us to also understand that the proceeds from cocoa are not only to be used for the staff.”
Measures
As part of measures he wants to take, the Board Chairman underscored, “Transparency will be the order of the day and with immediate effect for example, no disbursements will be done [which is] more than GH¢2 million, if the Finance Committee of the Board which I hope to chair, has not approved it.”
In other words, Mr Owusu-Agyemang noted with emphasis, “We have to do what we have to do to make sure that the cocoa industry rises to the one million tonne production [threshold] the president has given us.”
Issues
He also expressed concern about the fact that “the syndicated loan of $1.8 billion that we had hoped to use for this production year, unfortunately Mr. President, is all gone.”
As to where the money is gone, he did not indicate, except to say that, “We are yet to finish the purchase of the crops; so it falls on us to immediately organize some financing to carry on the process.”
The Board Chairman also talked of the Board’s huge indebtedness, saying, “Indeed, when you look at it, then the debt overhang of the government itself becomes insignificant and stressed the need to as it were, rationalize expenditures and establish modules for moving the industry forward.
“We have to look at all manner of procedures in the Board, including making dramatic cuts on the salaries, the wages of the top management,” he stated.
Mr Owusu-Agyemang was sure that after the pay cuts, the salaries of staff of COCOBOD would still be higher than the highest of the famous ‘Article 75’ office holders.
The Board also intends to tackle the issue of the falling price of cocoa from $3,200 per tonne to $2,200, with a loss of $1,000 per tonne on the back of a production of 850,000 tonnes and $850 million in losses.
“We want to assure our cocoa farmers that they should have the pride of place; in everything that we do and at the end of the day, they should realize the benefits of their labour,” he assured.
Fat Salaries
The Board Chairman, in a follow-up interview on Citi FM, dropped the hint of a possible review of salaries of top management members, with some of them pocketing GH¢75,000 every month as take-home pay.
He said the company would go into negotiation with the staff to get the review done, as it doesn’t make the company viable.
Board Members
Other members of the Board are Joseph Boahen Aidoo, the Chief Executive Officer (CEO), Kwame Sarpong, Dr Abdul Nasir Isahaku, Governor of the Bank of Ghana (BoG); Nana Adwoa Dokua; Nana Johnson Mensah; Nana Obeng Akrofi; Peter Atta Boakye; Charles Adu-Boahen; Carlos Ahenkorah and Dr Gyelle Nurah.
Source: Daily Guide
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Is the Chairman of COCOBOD on the management team. How come he is the one speaking when there is a CEO. I agree with the investigations but follow the proper order. Let management handle it not the Chairman
Waste of time, fresh investigation for what. Now Eoco can't investigate. shame, opuni is a decent man and God will vindicate him.
Why do we have cocoa roads? why not nurses, teachers, doctors etc roads? That was discriminatory. We can not tax the poor cocoa farmers to build roads for who? It was NDC's WICKED and CORRUPT ways of STEALING!
Equity must prevail in our salary structure .....a mere clerk in coco of (i.e the lowest ranked staff) earns more than a medical doctor every month. What kind of country is this? If our leaders will not do anything about this,we will rise up and ensure that sanity prevails
Check the companies that buy cocoa too. They supported COCOBOD to dupe the country.
Sometimes you cannot fathom why Jon Mahama and his economic team including Seth Terpkor; Ato Forson and MOna Quartey were always going for loans ; now today we know why : because they contracted these loans and over paid these stomach qualification elites with huge salaries and awarded themselves with these contracts at cocoa board WHY ?; today the whole idea is that if you can get a Phd or a higher qualification it represents a meal ticket or CHO :CHOP CHOP !!!; WHAT KIND OF FAIRY; FAIRY COUNTRY ARE WE DEVELOPING for our children with these educated elite raping Ghana -BRUTAL !!!!!; for me it is simple this Opuni kriminal should be investigated and his assets seized ; no doubt people were saying Lordina was sleeping with OPuni whilst at the same time Opuni was sleeping with Nayele the Cork dealer in prison in the UK whilst Jon Mahamawas sleeping around like a 'PIG'and they call themselves NDC !!!!so where is 'NYBRO JJ RAWLINGS' ; OH NDC ; Nana Addo should CRACKDOWN ON THESE NDC THIFFS !!!!!!!
So we go in for these syndicated loans to pay Opuni and others? This is a very serious crime against the state. He and his cronies must be investigated and be made to refund the money when found culpable.
SEVEN HUNDRED MILLION OLD GHANA CEDIS FOR ONE MAN'S MONTHLY SALARY?? AAAABA!!!!! WHY?? WHAT KIND OF NATION ARE WE LIVING IN? THIS DOESNT EVEN INCLUDE ALLOWANCES HE GET OOOOO. OOOOOO MOTHER GHANA!!!
This is just one out of many areas where Ghana is been ripped off. Very few people in "advantage positions" or "previleged" employment enclaves are just "overeating".They just ward off all others from "entering". MONIES THAT COULD BE USED TO EXPAND THE EMPLOYMENT BASE OF GHANAIANS ,GO TO THESE 'PREVILEGED FEW'. GHANA NEEDS A REAL ECONOMIC/ SOCIAL/ AND A BALANCED EMPLOYMENT REFORMATION. NANA, PLEASE RISE FOR CHANGE. GHANA HAS ENOUGH RESOURCES TO EMPLOY ITS TEEMING UNEMPLOYED YOUTH.
How is it possible that the CEO of cocobod makes more money than even the president of the land? GHC75000 ?! My goodness! What kind of work at all does he do for him to deserve such outrageous preposterous gargantuan amount as salary? How many hectares of cocoa farm does he even own? None I suppose. I simply can't get it! I am so peeved, because as a cocoa farmer having two hectares of cocoa farm to my credit, the whole year I don't earn even 4% of what the CEO makes in a month. How sad can that be? So this is a clear case of "monkey dey work baboon dey chop". In all sincerity, I don't believe his job description should attract more than GHC20000 as monthly remuneration. May God judge all these so called elites in our society who take undue advantage of the poor and the vulnerable in the society to enrich themselves. What a sad day. Weep my motherland weep.