The National Premix Fuel Secretariat has recovered GH₵4.6 million in unaccounted funds from an ongoing audit covering 2016 to 2024.
The exercise yielded GH₵4,676,011.14 from margins that were not properly accounted for. The funds are part of proceeds earmarked for development projects in Ghana’s fishing communities.
According to data compiled by the National Premix Fuel Secretariat, 167 Landing Beach Committees have so far been covered under the latest phase of the accountability exercise, with records from 34 committees fully verified.
Of the total amount accounted for by the Landing Beach Committees, GH¢4,189,444.92 represents current payments verified during the exercise, while GH¢486,566.22 represents balances brought forward from previous accounting periods.
This was made through an ongoing nationwide Premix Fuel Accountability and Bookkeeping Exercise being undertaken as part of government’s efforts to strengthen accountability and financial oversight within the premix fuel distribution system.
The exercise formed part of broader reforms being implemented to improve transparency, financial discipline and the management of the Community Development Fund, which is derived from 53 per cent of the margins generated from the sale of subsidised premix fuel and earmarked for development projects in fishing communities.
The ongoing accountability exercise followed findings from a special audit led by the Ministry of Fisheries and Aquaculture, as part of Government’s bid to reflect its Reset Agenda for key sectors.
Period of Audit
The audit, which covered the period 2016 to 2024, revealed the need for the accountability series after uncovering financial irregularities, unauthorized transactions, weak record-keeping and weaknesses in the management of the Community Development Fund in some communities.
The Administrator of the National Premix Fuel Secretariat, Mr Ebow Mensah, disclosed that the exercise has revealed a number of operational challenges confronting some Landing Beach Committees.
“In several districts, records are yet to be fully verified because changes in bank account signatories have delayed access to account statements and affected reconciliation processes,” he stated.
According to him, the exercise had provided the Secretariat with a clearer understanding of financial management practices at the community level while identifying gaps that require corrective action, capacity building and stronger oversight.
The exercise, he said, “goes beyond financial reconciliation. It is about promoting transparency, accountability, and responsible stewardship of resources intended to improve the lives of people in fishing communities.”
He mentioned for instance, that “the monitoring teams also observed that some committees are yet to deposit Community Development Fund proceeds because they are awaiting introductory letters from their respective Metropolitan, Municipal and District Assemblies to facilitate the opening of bank accounts.”
“Additionally, several committee members demonstrated limited understanding of bookkeeping procedures and bank documentation requirements, particularly in relation to bank statements and account reconciliation,” he added.
Outcome of the findings
These findings, Mr Mensah noted, highlighted the need for continuous training and support to strengthen financial management systems within Landing Beach Committees nationwide.
“The exercise is helping us identify areas where committees require additional support in bookkeeping, record management, and compliance with financial procedures. These are critical steps toward protecting community development funds and ensuring they are used for their intended purposes,” he stated.
He, therefore, described the ongoing accountability series as a major intervention aimed at restoring confidence in the management of the Community Development Fund.
He disclosed that steps have already been taken to prevent a recurrence of the irregularities identified through the audit and the ongoing accountability exercise.
He mentioned “stronger monitoring, improved account verification, bookkeeping support, compliance checks and closer collaboration with Metropolitan, Municipal and District Assemblies” as some of the measures.
The Secretariat cautioned all Landing Beach Committees to strictly adhere to L.I. 2233, which governs the operations of the premix fuel distribution system. It cautioned the committees to ensure that all proceeds due the Community Development Fund are properly deposited, recorded and used only for approved community development purposes.
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