The Herald newspaper says it is closely monitoring unfolding developments surrounding the controversial SML transaction, a scheme allegedly orchestrated by the Finance Minister and imposed on the leadership of the Ghana Revenue Authority (GRA).
In prior reports, The Herald examined the intricate plan designed to legitimize the alleged misappropriation of public funds through SML, a private company claiming to specialize in revenue assurance. Without substantiated grounds, the Finance Minister asserted that Ghana was losing revenue in the upstream oil and gold sectors.
Multiple analysts have exposed this apparent deliberate embezzlement, disguised as revenue assurance. In response, Parliament has called for investigations into the matter, and the Office of Special Prosecutions has been petitioned to conduct a thorough inquiry.
Interestingly, the mastermind behind this debacle, Ken Ofori Atta, has maintained conspicuous silence, seemingly occupied with orchestrating efforts to mitigate the fallout.
The current Commissioner General, Reverend Dr. Ammishaddai Owusu-Amoah, who has passed his retirement age, appears to be banking on this assignment to prolong his tenure, at least for the next year of the Akufo-Addo government.
Mr. Owusu-Amoah, clocked the retirement age of 60 years in 2021 and was given one year contract. He was expected to bow out by October 10, 2022, but was kept at the position.
But the GRA boss is not alone in this strategic move, as other Commissioners, facing their impending exits, are reportedly currying favour with the powerful Minister and a cousin of the President, Nana Akufo-Addo.
Julie Essiam, Commissioner responsible for the Support Services Division of the GRA is also said to be 60 years.
This Minister has not only weathered an internal New Patriotic Party (NPP) revolt, including over 100 Members of Parliament (MPs) calling for his removal but also appears to be adeptly playing his cards.
Recent events have compelled the GRA board and management to release an awkward statement that falls short of justifying the SML contract. The top management seems to be on high alert to shield the Minister from potential embarrassment.
Insiders suggest that the revenue assurance landscape is rife with similar schemes, and in the coming days, The Herald anticipates unveiling more of these deals to shed light on why Ghana finds itself in an IMF program despite the burden of numerous taxes imposed on the public.
Sources within the system recount how these deals could potentially exceed one billion dollars annually, including one involving McKinsey, also facilitated by the Finance Minister.
As the controversy and deliberate leakages continue to unfold, Ghanaians are eagerly await clemency from officials and creditors to restructure Ghana’s foreign debt, surprisingly led by the architect of the revenue leakages.