BOST MD IN HIS 4TH SCANDAL OF THE YEAR

 

…….Allegedly creates, loots and shares Ghc2million with Vice President Bawumia

Managing Director of the Bulk Oil Storage and Transport Company (BOST), Alfred Obeng Boateng, continues to reek corruption, as an alleged dodgy withdrawal of company money triggers a fourth major scandal in less than a year of being helmsman at BOST.

This time, the scandal-prone NPP regime actor, who is infamous for the shady sale of 5million litres of contaminated fuel to an unlicensed company, is said to have authorized the withdrawal of Ghc2million from the Trading Account of BOST.

Mr. Obeng Boateng Boateng has since allegedly explained that he withdrew the money and gave it to Vice President Dr. Mahamudu Bawumia to enable Bawumia complete a private house that he is putting up for himself.

The scandal is said to have been snowballing for sometime now with BOST’s General Manager in charge of Finance, Mr. John Akorfo, tasked to get to the bottom of the matter.

At the end of the investigations, Mr. Akorfo is expected to hand over his findings to the Board Chairman of BOST, Dr. Kwame Achampong-Kyei, who is said to be reluctantly expectant of the outcome because of the personalities caught in the scandal storm.

Himself a regime actor who is no stranger to scandal, Dr. Achampong-Kyei’s company, GLICO Life, was one of the insurance companies that had been lined up to operate a compulsory insurance scheme for National Service personnel.

The man is said to be posturing to micro-manage the Ghc2million scandal that hints of a create, loot and share conspiracy between Vice President Bawumia and the MD of BOST.

This posturing by the BOST Board Chairman has led to a spillage of the scandal on social media with concerned whistleblowers at the state oil trader leaking the issue on platforms such as Whatsapp and Facebook.

In this leakage, it has also been revealed that selfsame Alfred Obeng Boateng who is claiming that he withdrew the Ghc2million for the Vice President, also took a loan of Ghc210million in the name of BOST without the approval of the Board.

According to reports, the unilateral loan contract executed by Alfred Obeng Boateng on behalf of the state company has thrown the finances of BOST into a mess.

Unhappy insiders who The Republic has spoken to say they are afraid that the posturing of the Board Chairman portends a cover up of the issue. Same sources also lament that Mr. Obeng Boateng’s lap dog is the Chairman of BOST’s Senior Staff Association, Abdul Jalil Abdul Rahman, and that Mr. Rahman is already lacing his boots to start a campaign of denial and support for the BOST MD.

The Senior Staff Association Chairman is already notorious for defending Alfred Obeng Boateng whenever the scandal-prone BOST MD is caught flat-footed in a misadventure. All of three previous corruption scandals that had arisen around the BOST MD had occasioned Mr. Abdul Jalil fighting in his corner.

Alfred Obeng Boateng was appointed MD of BOST in January this year, with his appointment meeting with protests from well meaning Ghanaians who knew the man by scandals that he had generated in private life.

As a law student at KNUST, he had been sacked for examination malpractices by the Law Faculty of the School before he had later gone into publishing where he had spawned scandals for his dubious generation of invoices in respect of the publication of the Approachers series.

In spite of the protests, President Akufo-Addo had gone ahead to appoint him MD of BOST, a very strategic state entity that is continually inundated with temptations of office. Just three months into his appointment, Mr. Obeng Boateng generated his first scandal as BOST MD by donating a whopping Ghc1million to the Ghana@60 celebration.

The money is said to have been doled out at a time that BOST was struggling to pay salaries of workers, but Abdul Jalil Abdul Rahman, the Chairman of the Senior Staff Association of BOST, came out to justify the payment.

Three months after the scandalous donation to Ghana@60, Alfred Obeng Boateng generated his second and most notorious scandal of the year in June, shadily selling 5million litres of contaminated fuel to some unlicensed companies.

The companies, Movenpiina and McWest, had been given the products on credit even though they did not have the requisite license from the National Petroleum Authority to deal in the petroleum sector.

A sifting of the scandal soon revealed that the companies, which had not been officially in existence at the time that the fuel was sold to them had been the ones which had approached the BOST MD with the proposal to buy the contaminated fuel, a thing that suggested insider trading had been in the detail of the sweetheart deal.

It soon also emerged that a telephone number on the letterhead of Movenpiina allegedly went through to the private office of Mr. Alfred Obeng Boateng whenever it was dialed, even as it was alleged that the owner of the company was a business partner of Mr. Obeng Boateng.

In spite of the damning revelations, Abdul Jalil Abdul Rahman, Chairman of the Senior Staff Association of BOST granted several interviews to various media and dismissed all the allegations of wrongdoing against his boss, the BOST MD.

The Presidency soon swept the matter under the carpet, with President Akufo-Addo telling journalists that the way to forestall a future occurrence of suchlike scandal is to ensure BOST stops producing contaminated fuel. Nobody produces contaminated fuel; they result by accident.

Even so by early December, Alfred Boateng was back in the news with a fresh scandal in his name.

He was alleged to have understated profit that BOST made from the sale of 1million barrels of unrefined petroleum that his predecessor had acquired in 2016. The sale of the petroleum had been due to stalled operations at the Tema Oil Refinery.

Following that sale, the staff of BOST had held a press conference, at which Mr. Abdul Jalil Abdul Rahman had led colleagues to tell the whole world that BOST had raked in a profit of Ghc35million for 2017 and that the profit was due to the ingenuity of the MD, Alfred Obeng Boateng.

However, soon after that announcement, a Civil Society Group, Coalition for Social Justice (CSJ), came out to reveal that, not only is the Ghc35million realized from the sale of unrefined petroleum products that Mr. Obeng Boateng’s predecessor had bought for BOST in 2016, but that the actual amount that ought to have been realized from that sale was Ghc80million.

The disparity in the quotation from BOST and what the CSJ had quoted amounted to Ghc45million, a thing that led to questions as to what Alfred Obeng Boateng had done with that whopping amount of cash.

It is as the issue is still hanging between BOST and the Ghanaian people that selfsame Alfred Obeng Boateng is revealed to have authorized the withdrawal of Ghc2million from the Trading Account of BOST without any tangible company mandate explanation.

According to sources, the only indication that the scandal-prone BOST MD has given so far is that he gave the money to the Vice President, Dr. Mahamudu Bawumia, to be used to complete a private house that Bawumia is building for himself.

Along with this shocking development, Mr. Obeng Boateng is also said to have borrowed Ghc210million in the name of BOST without recourse to the Board, which by law ought to approve all loan agreements for BOST.

As the issues are said to be under investigation, worried sources say that the posturing of the Board Chairman of BOST, Dr. Kwame Achampong-Kyei, is very indicative of intent to cover up the scandal through a micro-management of containment.

Interestingly, the same Dr. Achampong Kyei was only recently involved in the NSS personnel compulsory insurance scandal, as his company, GLICO Life, along with Finance Minister, Ken Ofori-Atta’s company, Enterprise Life, was among a number of companies that had gotten contracts to operate the insurance for the personnel.

However, because the personnel had not given their consent and the insurance scheme, which would deduct money from the personnel’s allowances on a monthly basis, had not been approved by Parliament, the NPP government was forced protests to cancel it.

More anon!

 

 

 

Source: therepublicnewsonline.com/Saul Paul

 

The Republic News Online

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