BOST MD In GH 2 Million Corruption Scandal

December 18, 2017

Controversial Managing Director of state oil trader,BOST,Alfred Obeng Boateng,is embroiled in yet another corruption scandal following his withdrawal of GHS 2 million from the Trading account of BOST without prior approval by the Board.

Mr Obeng Boateng, whose corrupt handling of the sale of 5 million litres of contaminated fuel to an unregistered and unlicensed entity called Movinpiina Oil,attracted huge public backlash,claims to have spent the money on some expenses relating to Vice President,Mahamadu Bawumia.

Checks by this website revealed that the scandal-prone MD of BOST has told management of the organization that he assisted the Vice President with the money to complete an estate project.

Board members of BOST are also reported to be seething with rage over the contracting of a GHS 210 million loan by Mr Obeng Boateng,without express authorization from the board.

This they say has left the company in a fragile position and teetering on the egde of bankruptcy.

Consequently,an emergency Board meeting has been scheduled for this week at which the MD,who was handpicked for the role which many believe he is not suited for,by the Vice President,is expected to render an account of his conduct.

Petroleum experts and think tanks,this portal spoke to expressed grave concern about the development and indicated that the matter had come to their attention.They further stated that they intend to make a public intervention on the matter in the coming days.

 

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