The Gaming Commission of Ghana has officially sought legal advice from the Attorney General’s Department to recover a GH¢5.1 million investment made with SIC Financial Services Limited (SIC-FSL) in 2019. Despite multiple attempts to reclaim the funds, including written correspondence and meetings with the Commission’s audit committee, little progress has been made.
At a public hearing before the Public Accounts Committee (PAC) in Parliament House, Accra, Acting Gaming Commissioner Emmanuel Siisi Quainoo explained that SIC-FSL attributed their inability to repay the funds to issues arising from Ghana’s financial sector cleanup.
“Honourable Chair, before the infraction was even brought to my notice, I wrote to SIC-FSL demanding payment for the investment. They responded, stating that their investments had been escrowed at the Ministry of Finance (MoF) and sought my assistance in retrieving the funds,” Quainoo said.
In response, Alhaji Muntaka Mohammed-Mubarak, the Minister for the Interior, advised the Commission to seek legal guidance from the Attorney General, citing the complexity of the situation.
“Honourable Chair, I suggested we write to the AG for advice on how to proceed. This is because it involves a government institution. Many citizens faced similar issues due to the collapse of banks and have not been able to recover their money. It’s not a situation with a straightforward answer,” the Minister explained.
Madam Abena Osei-Asare, Chairperson of the PAC, welcomed this step but noted that SIC-FSL’s challenges may have existed even before the banking sector crisis.
“Minister, I’m glad you mentioned writing to the AG. While we await the response, it’s important to recognize that SIC-FSL may have been in a different situation prior to the banking issues,” she pointed out.
Meanwhile, auditors have emphasized the urgency of recovering the funds in line with financial accountability standards. The PAC reconvened on September 29 to continue its public hearings and review the Auditor-General’s report for the year ending December 31, 2024.
The Committee will scrutinize various government Ministries, Departments, and Agencies (MDAs) for alleged financial irregularities. Among those appearing before the Committee are the Ghana Statistical Service, the Ministry of Health, the Ghana Health Service, the Ministry for the Interior, the Ministry of Justice and the Attorney General’s Department, and the Ministry of Local Government, Chieftaincy, and Religious Affairs, among others.
The PAC’s scrutiny of the Auditor-General’s report underscores the Committee’s commitment to ensuring accountability and transparency in government financial dealings.
