Management of Ghana National Gas Limited has rejected allegations of wrongdoing in its recent insurance contract changes, insisting that the process was lawful and followed due process.
“The Company wishes to categorically assure the general public that no wrongdoing has occurred,” Head of Corporate Affairs, Richard Ernest Kirk-Mensah, said in a statement issued on Tuesday, April 13. He added that “the new insurance arrangements are entirely lawful and represent an enhanced risk management strategy to safeguard the Company’s assets.”
The response follows media reports raising concerns about possible irregularities in the transition from the company’s previous lead insurer to a new one. Although the statement did not name the insurers involved, management explained that the switch came after the “routine expiration” of existing contracts at the end of the year.
Ghana Gas maintains that all procurement processes linked to the new insurance arrangements received the necessary approvals. According to the company, the contracts were cleared by the Public Procurement Authority (PPA) and backed by commitment authorisations from the Ministry of Finance.
Mr Kirk-Mensah stressed that the company remains committed to transparency and good governance. “As is standard practice for any robust organisation, the Company will continue to review and strengthen its internal processes when necessary,” he said, noting that this is to ensure compliance and effective risk management.
The development comes at a time when procurement practices within Ghana’s energy sector are under increasing public scrutiny, with stakeholders demanding higher levels of accountability from state-owned enterprises.
Ghana Gas, a key player in the country’s energy value chain, is responsible for processing and transporting natural gas for power generation and industrial use. The company says, despite the controversy, its core mandate remains unchanged.
It assured the public that it is “fully focused on delivering gas in a timely and efficient manner to ensure the nation’s energy needs are consistently met.”
While no timeline has been given for any potential independent probe into the allegations, the Board reaffirmed its commitment to stakeholders and pledged to uphold high standards of corporate governance.
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Source: www.myjoyonline.com