An Audit report 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.
Meanwhile, the Mahama government has since announced plans to subject the Akufo-Addo government’s entire One District One Factory programme to a full forensic audit.
According to Deputy Minister Ampem, the review is necessary given the scale of public funds involved.
He disclosed that the government had disbursed about GH¢391 million in interest subsidies for the programme as of the end of 2024.
“Mr Speaker, only God knows how much of taxpayers’ money has been lost to similar fictitious claims,” he said.
In related news, a member of Parliament’s Finance Committee has said the Auditor-General’s report should lead to prosecutions, not scare tactics.
Dr Kabiru Tiah Mahama highlighted that the Auditor-General’s Report on Arrears and Payables as at the end of 2024 should lead to prosecutions.
Speaking on Eyewitness News on Tuesday, March 10, Dr Tiah Mahama stated, “Exposing these things are good, but my problem is that they are not doing it with the intention actually to punish people. They are doing it to create a scare”.
“We fully support any decision to ensure accountability and transparency and to make sure people involved in financial malpractices are dealt with in accordance with the law. However, we do not support the idea of presenting people as guilty before they are heard or before their cases are determined in court,” he added.
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