Former NPP MP, Kennedy Kankam indicted by Auditor-General for blowing GH¢500K of Assembly’s Common Fund

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The Auditor General directed the former Nhyiaeso  Member of Parliament for Ashanti Region , Kennedy Kankam, a former accountant of the Kumasi Metropolitan Association, to immediately recover the JPY 500,000 loan given to more than 300 people in his constituency.

The Auditor General claimed that the money which was the MPs’ share of the District Council Common Fund for the Development Project had been disbursed as a loan but no refunds had been made since.

The DACF Director has allocated a total amount of GH 4,821,929.80 to the Kumasi Metropolitan Association (KMA) from the fourth quarter of 2019 to the third quarter of 2020.




Says the Auditor General, in a management letter regarding the DACF and other statutory funds of the KMA dated December 31, 2020, signed by Ashanti Regional Director, Alhassan Mahama, on the instructions of the former Representative of Nhyiaeso, Kennedy Kwasi Kankam, transmitted in association with the former Chief Financial Officer, Daniel Kofi Kamkam, and Coordinating Director, Samuel Donkur, transferred 500,000 yen in May 2019 from the Parliamentary Constituency Work Project Fund and Social Investment Fund to Barclays Bank Ghana Limited (currently Absa Bank Ltd.), a Kroform subsidiary for 430 people from his constituency to spend on a loan Fully refundable by August 2020.

Meanwhile, the bank charged a service fee of 22.50 gigahertz to each of the 430 people for a total of 9,675.00 gigahertz.

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The report says that the correct procedure was not applied because the association’s lawyer was not a party to the signed memorandum of understanding and also there was no signed agreement with the beneficiaries and therefore the association’s interest was not preserved.

The report also indicates that the association’s management has not explicitly asked Absa Bank since then to perform its contractual obligations to recover the loans.

It says public funds are in danger of collapsing as no effort is made to recover the amount without holding the perpetrators accountable.

In addition, the report says, people in the constituency were denied the benefit of these funds in terms of physical and human development.

The report recommends that Rep (Hon. Kennedy Kwasi Kamkam), former Chief Financial Officer and Coordinating Director (Mr. Daniel Kofi Kamkam and Mr. Samuel Donkur respectively), as well as former Absa Bank Branch Manager, Crofroom Branch (Ms. Ivy Agbemadzo), should take steps to recover the amount GH 500,000.00 in the KMA Member of Parliament for the Nhyiaeso Joint Fund Account.

Source: joey news

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