A politician last Saturday drew the attention of the Presidency and Ghanaians generally to a piece of largely forgotten legislation that could effectively bell the corruption that is allegedly running riot in the country.
Contributing to a radio panel discussion on corruption, Mr. Sam Pee Yalley, pointed out that The Financial Administration Act, passed by the Third Parliament of the Fourth Republic in 2003, could give the war against corruption the much-needed teeth in the form of The Financial Tribunal that the 10-year-old law allows to be set up.
Passed during President John Agyekum Kufour�s first term, when zero tolerance against corruption was still the reigning catch phrase, the TFAA reportedly permits the setting up of the TFT with jurisdiction to �hear and determine matters of financial misappropriation by state officials and also enforce recommendations of the Public Accounts Committee (PAC) of Parliament on the Auditor General�s Report.�
Section 66 of TFAA 2003 is said to stipulate that �the [Financial] Tribunal shall comprise a Judge of the High Court who shall be a (the) Chairperson, a Chartered Accountant, a Management Accountant and a Professional Valuer.
In 2012 alone, the Auditor General�s report published in September this year,cited 77 state institutions in which it uncovered financial irregularities to the tune of about GH�2.02 billion which is the equivalent of about US$50.1 million.
Prior to the release of the 2012 AG�s reportthere have been reports of corruption at the Ghana Youth Employment and Entrepreneurial Development Agency, the Savannah Accelerated Development Authority and payments by the Ghana Revenue Authority to an IT contractor � Subah Infosolutions � that had failed to execute its core mandate to enhance revenue from GSM companies operating here.
The Chronicle whole-heartedly supports the call for the establishment of the financial tribunal to address the misappropriation of state funds by civil, public servants and political appointees.
We note President John Mahama�s instructions to the Economic and Organised Crimes Office and the two ministries to work together to ensure the retrieval of all monies wrongfully paid to individuals and organisations from contracts with SADA, GYEEDA and GRA by December 31, 2013.
But we are equally aware that it came with some foot dragging; besides the culprits would likely escape punishment.
The Chronicle believes, however, that the invocation of the financial tribunal would ensure more expeditious recovery of wilfully looted funds and quicker punishment for the misconduct to serve as a deterrent for future financial adventurers, as the tribunal would be self-motivating.
Since TTFA was enacted in 2003 we recommend that its investigations must commence from that year so that no one group can complain of having been singled out for punishment while fellow fraudsters had been allowed to go free.
Alternatively, the government, political parties, civil society groups and other stakeholders could reach a bi-partisan agreement on a cut-off date for the commencement of the operations of the financial tribunal, say effective from the 2014 Auditor-General�s report.
President John (IV) Dramani Mahama, the ball is squarely back in your court. When you were taunted recently, that you have no stomach to fight the corruption ravaging our Motherland, you retorted sharply that your accusers did not know you.
This is a fine opportunity to demonstrate to all the cynics out there that there is indeed a side of steel to you in the fight against corruption that no ordinary eye sees. Set up The Financial Tribunal TODAY, unfailingly, and immortalise your name.
It is the next best thing to an Independent State Prosecutor!
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