Thomas Nyarko Ampem, the Deputy Finance Minister, has disclosed that 35 contractors under the Agenda 111 initiative received US$7.9 million in mobilisation funds, but they failed to deliver work equal to the payments.
According to Thomas Nyarko Ampem, an Auditor-General on Arrears and Payables, as at the end of 2024, uncovered significant irregularities under the Agenda 111 project.
The Deputy Minister disclosed that the audit findings showed that some contractors who took the US$7.9 million did not mobilise to their respective sites, and others also failed to deliver work.
Speaking on the floor of parliament while presenting the Report of the Auditor-General on Arrears and Payables as at the end of 2024 in Parliament on Tuesday, March 10, Mr Nyarko Ampem stated, “Mr Speaker, the audit of Agenda 111 projects also revealed that a total amount of US$7.9 million was paid to 35 contractors as advance mobilisation under the programme, but these contractors have either failed to mobilise to the site or the work done is not commensurate with the amount paid”.
“The advance mobilisation guarantees secured by the 35 contractors who received the US$7.9 million have all expired. The Auditor General has subsequently issued notices of surcharge to the offending contractors,” he added.
In related news, the Audit report also carried out on the former Akufo-Addo government’s flagship One District One Factory (1DIF) programme has revealed shocking financial misappropriation.
The audit report produced by the Ghana Audit Service in partnership with EY and PwC showed that millions of state funds were almost stolen under the One-District One-Factory (1DIF).
On Monday, March 10, 2026, the findings presented to the Parliament of Ghana were delivered by Deputy Finance Minister Thomas Nyarko Ampem on behalf of Cassiel Ato Forson.
According to the audit report, the Ministry of Trade and Industry in 2024 requested the release of GH¢89.4 million to five commercial banks as the government’s contribution toward interest; however, all five institutions reportedly denied being owed any money by the government.
The Deputy Finance Minister Thomas Nyarko Ampem detailed, “The then Ministry of Trade and Industry in 2024 submitted a request of GH¢89.4 million to the Ministry of Finance to be transferred to five commercial banks as a government contribution to interest payments under the One District, One Factory (1D1F) initiative. The Ministry of Finance subsequently processed the same to the Controller and Accountant General’s Department for payment.
“This particular request was part of BTAs sitting at the Controller and Accountant General’s Department, awaiting cash for payment. When auditors contacted these five banks to confirm the liability, every single one of them denied being owed any amount by the government under the said arrangement. According to the auditors, the said GH¢89.4 million debt was fictitious. Without the audit intervention, a whopping GH¢89.4 million of hard-earned public money could have been disbursed to settle this non-existent liability,” he said.
Also, the Deputy Minister further disclosed that the audit also uncovered another questionable transaction involving a reported GH¢10.5 million payment into a so-called “Buffer Account” at a commercial bank.
“Rt. Hon. Speaker, payment of GH¢10.5 million was recorded as having been made into an account named the ‘Buffer Account’ at a commercial bank. Upon verification, the bank confirmed that it had never received such a payment. The account number cited did not exist within the bank’s records and did not even conform to its account numbering format,” he said.