Business News of 2014-07-30

MoF creates information bank on compensation payments

The Ministry of Finance (MoF) has created an information bank on compensation payments, in order to avoid duplication of payments.

Mrs Fafa Kpodo, Senior State Attorney at the MoF, made this known on Tuesday, when she appeared before the Judgment Debt Commission, in respect of compensation payments for the Volta Basin flooded areas – Pie, Ahamandi, Keta Krachi, Makango and Apaaso, following the construction of the Akosombo Dam.

She said the information bank has been of great benefit to the nation, as the system aids in the prevention of double compensation payments.

Mr Kofi Dometi Sokpor, Lead Counsel of the Commission, wanted to know from Mrs Kpodo the Ministry’s comment in respect of a Report formulated by a professional group made up of chartered accountants, licensed surveyors and auditors, on the flooded areas which was forwarded to it.

She intimated that they were still gathering the comments from the various departments, especially the Audit Department, which worked on the payments. The Senior State Attorney asked for a two-week period to enable them compile the comments from the various departments that worked on the Report.

Mr Justice Yaw Apau, Sole Commissioner of the Judgement Debt Commission, inquired from the Senior State Attorney whether when it comes to compensation payments, the Ministry verifies the claims before honouring them.

Mrs Kpodo answered in the affirmative, adding that certain documents must be adequately supplied by the claimants and other relevant state institutions before the payments are honoured. Sitting has been adjourned to Wednesday, July 30.

Source: GNA
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