28 C
Sunday, December 10, 2023

Related stories

IATA warns of potential disruption to international flights to Nigeria

If worries about airlines' incapacity to repatriate profits are...

FULL TEXT: Gov’t stance on lithium mining deal with Barari DV Limited

Distinguished Guests, Ladies and Gentlemen, you will recall that...

MTN Nigeria Plc’s market value remains below N5 trillion due to lackluster earnings

MTN Nigeria Plc's market valuation has remained stagnant, falling...

Unstable networks, taxes, and fraud challenges impede electronic transactions

The Ghanaian government has been making efforts to promote...

Amin Adam reaffirms confidence in debt restructuring process

Minister of State at the Finance Ministry, Dr. Mohammed...

Ghana’s mineral resources yet to propel development – Kwame Jantuah

CEO of African Energy Consortium Limited And legal practitioner,...


Mahama made an error in BOST profitability claim because he was misinformed – BOST MD

Managing Director of the Bulk Oil Storage and Transportation Company Limited (BOST), Edwin Provencal, has challenged assertions that the company recorded profits in 2015 and 2016 during former President John Mahama’s administration.

Former President Mahama had recently asserted that BOST achieved net profits of GHC109.36 million in 2015 during an engagement with members of the Trades Union Congress (TUC) in Accra.

- Advertisement -

However, in an interview on the Asaase Breakfast Show, Provencal refuted Mahama’s claims, stating that the former president was misinformed.

“I can understand why the former president may make that error,” the BOST boss said. “This is because normally when Ministry of Finance requests for data from institutions, the year would not have ended and the accounts unaudited.”

- Advertisement -

“After an independent auditor comes in to audit, that is when the true state of affairs may come out. So, I am sure the document used by Mahama is what is flawed. He was not told the truth, so he used that information to make that statement,” Provencal said.

Latest stories