Nat’l Tymes News Desk
THE CONTROLLER and Accountant-General’s Department (CAGD) has firmly rejected claims that the government has already spent nearly GH¢11 billion on the Accra-Kumasi Expressway, insisting that not a pesewa of the earmarked funds has been paid to any contractor or used for construction.
The clarification follows widespread claims on social media suggesting that the huge sum had already been spent even though major construction work on the flagship highway project is yet to begin.
In a statement issued on Thursday, the CAGD explained that the funds, approved under the 2025 Budget, were transferred into a dedicated Bank of Ghana account for the project but remain untouched pending the start of execution.
According to the Department, the Accra-Kumasi Expressway is being implemented through Accra-Kumasi Expressway Limited, a Special Purpose Vehicle established by the Ghana Infrastructure Investment Fund (GIIF). It stressed that the money remains in the dedicated account and has neither been released to contractors nor used for any construction activity.
The CAGD explained that under Ghana’s Public Financial Management framework, transfers from the Central Government to State-Owned Enterprises are recorded as grant expenditure in government accounts. It said this is a standard accounting practice and should not be interpreted to mean the funds have been spent.
It noted that the same accounting treatment applies to transfers made to institutions such as the District Assemblies Common Fund (DACF), the Ghana Education Trust Fund (GETFund) and the National Health Insurance Authority (NHIA).
The Department also clarified that the ongoing clearing of the road corridor by the Ghana Armed Forces is only a preparatory exercise and is not being financed from the earmarked expressway funds.
Reassuring the public, the CAGD said the accounting treatment for the project fully complies with Ghana’s Public Financial Management laws and established government accounting standards, urging Ghanaians not to be misled by false claims circulating online.
Source: Nationaltymes.com
