Cocobod rubbishes Auditor General’s report for writing-off ¢23m expired fertilisers without Parliamentary approval
The Ghana Cocoa Board (Cocobod) management has dismissed an Auditor General’s report claiming the board wrote off expired fertilizers and agrochemicals worth $23.9 million from its books in 2018 without parliamentary permission.
Various media outlets have now re-published the information, according to the report.
The management claimed in a statement that it done nothing illegal because the write-off was caused by the previous administration’s mismanagement.
“When the current management took over administration in 2017, they were startled to discover large quantities of chemicals and fertilizers in storage.
“As a result, an audit of the goods was undertaken, revealing that some fertilizers and agrochemicals valued at 23,957, 520.65 had expired,” it stated.
“Management then requested authority from the Board of Directors to write off the value of the expired agro-inputs from COCOBOD’s accounts, which approval was properly granted,” it said.
Continuing, he stated that management is collaborating with the Board of Directors in order to submit the write-off to parliament for retrospective approval through the Ministry of Food and Agriculture.
It reassured stakeholders that precautionary steps had been taken to prevent such problems in the future.
Rejoinder: The Auditor General’s Report on Cocobod’s Expired Chemicals and Fertilizers
In his report on the Public Accounts of Ghana: Public Boards, Corporations, and Other Statutory Institutions for the period ended December 31, 2020, the Auditor General stated that the Board of Directors of Cocobod wrote off expired fertilizers and agrochemicals worth $23.9 million from the company’s books in 2018 without parliamentary approval.
Various media outlets and internet portals, as well as social and political pundits around the country, have subsequently re-published the study.
We want to keep Ghanaians informed about the facts behind the study, especially our beloved cocoa growers and other stakeholders.
Cocobod buys fertilizers and agrochemicals and distributes them to cocoa growers all over the world. The agrochemicals and fertilizers that are purchased are usually dispersed and applied in the same year.
When the current management took over in 2017, they were startled to discover that there were large quantities of chemicals and fertilizers on hand.
As a result, an audit of the goods was undertaken, which found that certain fertilizers and agrochemicals worth $23,957, 520.65 had expired.
Following that, management requested and received clearance from the Board of Directors to write off the value of the expired agro-inputs from Cocobod’s books.
Management is collaborating with the Board of Directors in order to submit the write-off to Parliament for retrospective approval through the Ministry of Food and Agriculture.
We want to reassure our stakeholders that precautions have been taken to prevent such problems in the future.