NIA offsets GHC1.6m Cal bank loan without approval

The 2015 Auditor General’s report has cited the National Identification Authority (NIA) for illegally using its Internally Generated fund to offset a loan facility it acquired from CAL Bank.
According to the report, Management of the Authority arranged with CAL Bank to retain funds generated internally by it to defray the loan facility of $1.5million taken from the Bank.




“As a result, a total of GHC1, 612,322.35 was retained from the IGF by the bank during the period under review as part settlement of the loan without parliamentary approval,” said the report.
The report, therefore, urged the Authority to seek retrospective approval from Parliament.
The NIA per the report, in partnership with Identity Management Systems Limited, obtained a loan facility of $1,500,000.00 from CAL Bank to be used to upgrade the Central System Hardware to enhance instant issuance of Ghana cards. The loan was, however, not recorded in the books of accounts of the Authority.

Source:StarrFMonline.com