{"id":27439,"date":"2021-08-16T18:35:02","date_gmt":"2021-08-16T18:35:02","guid":{"rendered":"https:\/\/www.kumasionlinegh.com\/?p=27439"},"modified":"2021-08-16T18:35:02","modified_gmt":"2021-08-16T18:35:02","slug":"buffer-stock-engaged-99-unlicensed-firms-to-supply-food-under-free-shs-audit-report","status":"publish","type":"post","link":"https:\/\/www.kumasionlinetv.com\/?p=27439","title":{"rendered":"Buffer Stock engaged 99 \u2018unlicensed\u2019 firms to supply food under Free SHS \u2013 Audit report"},"content":{"rendered":"\n<p>The Auditor-General\u2019s Department has indicted the National Food Buffer Stock Company (NAFCO) for engaging the services of 99 firms not licensed by the statutory agency to supply food items under the Free Senior High School program in 2017 and 2018.<\/p>\n\n\n\n<p>As part of efforts to raise internally generated funds, companies seeking to supply food items for and on behalf of NAFCO are expected to pay a registration fee of GH\u00a2500 and another GH\u00a21000, as licence fees, if approved.<\/p>\n\n\n\n<p>According to a recent audit conducted by the Auditor-General\u2019s Department, such processes were bypassed.43 and 56 firms engaged by NAFCO in 2017 and 2018 respectively.<\/p>\n\n\n\n<p>\u201cWe noted from our review of the cost of sales and accounts payable that 43 entities to whom payments were made for the purchase of white maize and other supplies totaling GH\u00a212,347,402.97 [in 2017] were not on the list of LBCs obtained from the company\u2019s operations team.\u201d<\/p>\n\n\n\n<p>\u201cWe noted from our review of the cost of sales that a sampled of 56 Companies to whom payments were made for the purchase of white maize and food supplies totaling GH\u00a230,360,044.00 [in 2018] were not on the list of LBCs obtained from the Company\u2019s operations team.\u201d<\/p>\n\n\n\n<p>The report noted that NAFCO was deprived of internally generated funds amounting to about GH\u00a2148,500 \u201cin revenue as a result of not collecting registration fees of GH\u00a2500.00 and licence fees of GH\u00a21,000 per supplier\u201d from the 99 entities in question.<\/p>\n\n\n\n<p>The Auditor-General in the report complained that such \u201ctransactions with unlicensed suppliers may be susceptible to fraud\u201d.<\/p>\n\n\n\n<p>This was captured in the Auditor-General\u2019s report on public boards, corporations, and other statutory institutions for the period ended 31 December 2020.<\/p>\n\n\n\n<p>In response to the findings, \u201cManagement [of NAFCO] explained that some suppliers were engaged on an emergency basis. However, we [audit team] sighted no documentation supporting the explanation and there was no indication of registration and licence fees being collected from the above\u2026 entities prior to bringing them on board as suppliers.\u201d<\/p>\n\n\n\n<p>That notwithstanding, the Auditor-General recommended that Management should collect the registration and licence fees from the companies in question.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Unsupported expenses<\/strong><\/h4>\n\n\n\n<p>In the same audit report, the Auditor-General\u2019s Department observed that although NAFCO expended an amount of GH\u00a2333,050 in 2018 for monitoring activities under the Free SHS program, there were no supporting documents to justify such expenses.<\/p>\n\n\n\n<p>\u201cWe noted that amount totalling GH\u00a2333,050.00 relating to monitoring and evaluation of Free SHS activities (GH\u00a2129,500.00), payment for calendar and office wares (GH\u00a2185,776.00), and training in respect of Fixed Asset Management (GH\u00a217,774.00) were not adequately supported with third-party documentation such as receipts and signed sheet to account for them. In addition, we did not sight any reports on monitoring and evaluation of the Free SHS activities for the year.\u201d<\/p>\n\n\n\n<p>\u201cThe Company may be susceptible to misappropriation of funds and\/or fraudulent reporting as a result of inadequate accountability for funds advanced for varied activities,\u201d the report added, and recommended that management of NAFCO \u201cshould ensure that activity reports for monitoring and evaluation and training are produced by personnel as evidence of activities carried out\u201d.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Role of NAFCO<\/strong><\/h4>\n\n\n\n<p>The National Food Buffer Stock Company Limited was incorporated under the Companies Code of Ghana, 1963, Act 179 on 11th March 2010.<\/p>\n\n\n\n<p>It is a limited liability company, wholly owned by the government of Ghana. The company is governed by a seven-member Board of Directors.<\/p>\n\n\n\n<p>The Chief Executive Officer (CEO) is responsible for the day-to-day operations of the company.<\/p>\n\n\n\n<p>The CEO is assisted by other Directors and Managers.<\/p>\n\n\n\n<p>Among other functions, NAFCO purchases excess produce of maize, paddy rice, and soya beans from farmers, preserves, sells, and distributes these foodstuffs to state institutions. It is also in charge of the government Emergency Food Programme.<\/p>\n\n\n\n<p>Source :citinewsroom.com<\/p>\n\n\n\n<p><strong>Send your news stories to&nbsp;<a href=\"mailto:dannyboy744@gmail.com\">dannyboy744@gmail.com<\/a>&nbsp;and via WhatsApp on +233 266777777<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Auditor-General\u2019s Department has indicted the National Food Buffer Stock Company (NAFCO) for engaging the services of 99 firms not licensed by the statutory agency to supply food items under the Free Senior High School program in 2017 and 2018. As part of efforts to raise internally generated funds, companies seeking to supply food items [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":27440,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"iawp_total_views":0,"footnotes":""},"categories":[944],"tags":[],"class_list":["post-27439","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news-top-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Buffer Stock engaged 99 \u2018unlicensed\u2019 firms to supply food under Free SHS \u2013 Audit report - Kumasi Online TV<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.kumasionlinetv.com\/?p=27439\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Buffer Stock engaged 99 \u2018unlicensed\u2019 firms to supply food under Free SHS \u2013 Audit report - Kumasi Online TV\" \/>\n<meta property=\"og:description\" content=\"The Auditor-General\u2019s Department has indicted the National Food Buffer Stock Company (NAFCO) for engaging the services of 99 firms not licensed by the statutory agency to supply food items under the Free Senior High School program in 2017 and 2018. 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