Exclusive: COCOBOD awarded $512 million "last minute" contracts

Exclusive: COCOBOD awarded $512 million "last minute" contracts

Documents available to YEN indicate that executives of the Ghana COCOBOD awarded over $512 million dollars worth of contract between October 2016 and January 2017.

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COCOBOD awards $500 million "last minute" contracts

Stephen Opuni, former COCOBOD CEO

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The documents which were made available to YEN by a source close to the Public Procurement Authority (PPA) show that between December 3, 2016 and December 23, 2016, COCOBOD, through the PPA, awarded several contracts by sole sourcing.

Exclusive: COCOBOD awarded $512 million "last minute" contracts

The contracts totaled $159 million for dollar contracts and GHC 120 million for cedi contracts. COCOBOD justified its decision to sole-source those contracts by saying that they were of a proprietary nature.

Exclusive: COCOBOD awarded $512 million "last minute" contracts

The data also reveal that between October 3, 2016 and January 6, 2017, COCOBOD awarded 44 contracts to various suppliers, primarily in the roads sector on restricted tendering basis.

The cedi contracts totaled GHC1.138 billion while the dollar contracts were worth $62.65 million.

A computation of the sole-sourced and the restricted tendering contracts put the total sum of contracts COCOBOD awarded in the last three months of the John Mahama administration at a staggering $512 million (GHC2.2 billion).

Exclusive: COCOBOD awarded $512 million "last minute" contracts

Kwame Asiedu Sarpong, a finance expert, who helped YEN analyse the data, questioned why COCOBOD was in the hurry to award those contracts on sole-sourcing and restricted tendering bases at a time that Ghana was transitioning from one government to another.

He also questioned whether the Public Procurement Authority behaved prudently and applied the procurement laws of Ghana those contracts.

"I weep for this country," he said.

The development as well as many other instances of alleged financial impropriety has already prompted Akufo-Addo to angrily fire Stephen Opuni as COCOBOD CEO.

The government has also directed 11 senior managers of the company to go on leave, as it investigates allegations of malfeasance and at the company.

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Exclusive: COCOBOD awarded $512 million "last minute" contracts

YEN reportedly this week that Opuni was blocked at the Kotoka International Airport (KIA) and prevented from leaving the country by security officials.

Dressed in white suit, he was said to be fleeing the country to Dubai when the security agents accosted him and seized his passport.

The former COCOBOD CEO is being investigated the Economic and Organised Crime Office (EOCO).

COCOBOD awards $500 million "last minute" contracts

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