The Controller and Accountant-General’s Department (CAGD) has dismissed claims that government has already spent nearly GH¢11 billion on the Accra-Kumasi Expressway project despite construction yet to commence.
This follows claims circulating on social media suggesting that the funds earmarked for the project had already been used.
In a statement on Thursday, July 16, the Department said the claims were based on “a misunderstanding of Government accounting procedures.”
“The CAGD wishes to emphasise that these funds have not been paid to any contractor or spent on construction works. They remain in the dedicated Bank of Ghana account pending project execution,” the statement said.
According to the Department, the funds were transferred from the Consolidated Fund into a dedicated Bank of Ghana account after Parliament approved the concession and government earmarked proceeds from the Annual Budget Funding Amount (ABFA) and mineral royalties in the 2025 Budget for the project.
The CAGD explained that the Accra-Kumasi Expressway is being implemented through Accra-Kumasi Expressway Limited, a Special Purpose Vehicle established by the Ghana Infrastructure Investment Fund (GIIF) and classified as a State-Owned Enterprise (SOE).
It noted that under government accounting rules, transfers from the Consolidated Fund to entities outside the Central Government accounting structure are recorded as expenditure in the books of Central Government and revenue in the books of the receiving institution.
“This is a standard accounting treatment and does not mean the receiving entity has spent the funds,” the Department stated.
“It is therefore incorrect to conclude that because the transfer appears as expenditure in the accounts of Central Government, the funds have already been spent on the construction of the Accra-Kumasi Expressway,” it added.
The Department further clarified that the ongoing right-of-way clearing by the Ghana Armed Forces is a separate preparatory exercise and is not being financed from the earmarked funds.
Source: Starrfm.com.gh

