A former President of the Chartered Institute of Taxation Ghana and a Fellow of the Institute of Chartered Accountants Ghana, Mike Kofi Afflu, has lodged a formal request with the Auditor-General to initiate an investigation into the perplexing transfer of GH¢52.5 billion to an undisclosed account during the year 2020.

Afflu has brought attention to a letter dated October 5, 2020, sent by the Audit Service to the Managing Director of GCB Bank Plc.

This letter, addressed to the Auditor-General, prompted the bank to provide an explanation regarding the substantial sum of GH¢52.5 billion that had been transferred from the bank to an account of unknown origin.

In his petition, which bears the date August 11, 2023, and is directed to the Chairman of the Public Accounts Committee of Parliament, with copies furnished to GhanaWeb, Afflu pointedly voiced his concern over the lack of any elucidation offered by the Auditor-General to the taxpayers of Ghana.

He inquired about the specific whereabouts of the transferred funds, the authorized source of the transfer, the destination account's details, and any correlated issues.

Afflu's apprehension extends to the exchange rate between USD and GHS for the month of October 2020, which averaged 5.77522.

Based on this exchange rate, the sum of GH¢52.5 billion would correspond to approximately US$9,090,783 (approximately $9.1 billion).

According to him, “If this GH¢52.5 billion (from GRA Account) had been transferred to the Bank of Ghana as mandated by Law, Ghana would not have gone to the International Monetary Fund (IMF) for the bailout of $3 billion.”

“I am therefore requesting the Public Accounts Committee of Parliament of which you are the Chairman, to invite the Auditor-General of Ghana to provide the necessary explanation to your committee and Ghanaians as a whole,” the petition noted.

“We want to know who withdrew that amount of money from the GCB Bank Plc and for what,” he concluded.