An Audit Shows That In 2024, Former MIIF Officials Spent GH¢

According to documents obtained by JoyNews, the board and leadership of the Minerals Income Investment Fund (MIIF) travelled abroad for about GH¢11 million in 2024 without the necessary government authorisation.

The Ministry of Finance issued a regulation in 2020 that prohibits public servants from travelling on official business without the Chief of Staff’s prior approval. This activity is in violation of the directive.

Despite this direction, MIIF’s management proceeded with the travels.

The trips were made without prior authorisation from the appropriate authorities, according to a report by the Ghana Audit Service.

The Ministry of Finance’s Administrative Guidelines for the Implementation of Foreign Travel Allowances, issued in October 2020, require public officers at the rank of Director and below to obtain approval from either the sector minister or, where applicable, the Chief Director.

Nevertheless, auditors discovered that MIIF did not adhere to these specifications. The study also stated that the breach was directly caused by MIIF’s disdain for the mandate.

The Head of Human Resources at MIIF responded to the findings by stating that all trips that needed the Chief Executive Officer’s or Chief Director’s approval were duly authorised. He clarified that all trip request documents were accessible for verification and that the HR and Administration Department followed directives from the CEO’s secretariat for overseas travel involving executives above the Director grade.

Edward Nana Yaw Koranteng, the former CEO of MIIF, asserted that the Chief of Staff at the time was aware of every travel. However, auditors pointed out that there was no supporting documentation for this claim from MIIF and the Office of the Chief of Staff.

In the meantime, Justina Nelson, the acting CEO of MIIF, informed the Public Accounts Committee in Parliament that the fund’s expenditures were essential to develop the capacity needed to run its new office. She came before the committee to answer enquiries about MIIF’s spending.

Within two years, MIIF spent more than GH¢2 million on sitting allowances, according to a second audit of the fund’s financial accounts and annual reports.