We would have closed down schools if we owed suppliers two years arrears – Buffer Stock Company

Chief Executive Officer of the National Buffer Stock Company, Hanan Abdul-Wahab has firmly denied that the company owes suppliers arrears exceeding two years.

Accusations of long-standing debts and delayed payments have recently plagued the National Food Buffer Stock Company, prompting suppliers to stage a protest at the company’s headquarters.

However, in an exclusive interview on the Happy Morning Show with Samuel Eshun, the CEO of the Ghana Buffer Stock noted the possibility of school closures if the Buffer Stock Company had indeed owed suppliers such long-standing debts.

He said, “I want to put this on record that we don’t owe any supplier over two years arrears. We don’t have an invoice that has exceeded two years with us as we speak, and that is a fact. If we did we would have shut down schools by now.”

He acknowledged the grievances of the association as he described the action as “the first of its kind” having enjoyed a six-year working relationship with the suppliers since 2017. He said that the delay in payments prompted the suppliers’ decision to take their concerns directly to the company’s office.

Abdul-Wahab further indicated that to resolve the issue, the Minister for Food and Agriculture has engaged with the suppliers, providing assurances and setting timelines for the release of funds.

Abdul-Wahab reiterated the Minister’s actions and expressed gratitude for the suppliers’ cooperation, noting, “They have since respected the Minister’s plea and have decided to call off the picketing because the Minister had promised them that by the 17th, they will get their funds released to them. So far so well. Various stakeholders have met and on the side of the management of Buffer Stock we have already started preparing their payment structures because we know whatever it is we’ll be able to pay them on the 17th of this month so that they’ll be able to go back and continue with their suppliers again.”