The Ministry of Finance has launched a forensic audit into 55 suspended government infrastructure projects amid revelations that some contractors accessed funds from external loans without delivering matching physical work.
Finance Minister Dr. Cassiel Ato Forson made the announcement during the presentation of the 2025 Mid-Year Budget Review to Parliament on Thursday, July 24.
“Mr. Speaker, it has come to the attention of the Ministry of Finance that a number of contractors implementing some of these 55 stalled projects have drawn down on the loans with no work done to match the amount drawn,” Dr. Forson disclosed.
The forensic audit, being conducted in collaboration with the Auditor-General and one of the Big Four international accounting firms, aims to determine how project funds were utilised, especially in cases where there is a clear mismatch between financial drawdowns and on-site progress.
Dr. Forson further disclosed that some contractors had requested project variations and cost adjustments beyond what was approved by Parliament—actions that contravene existing directives.
“There is no room for an increase in scope for any of the projects on the priority list, as agreed with the IMF and the Official Creditors Committee,” he stressed. “Implementing agencies must take note and comply accordingly.”
The audit comes in the wake of the government’s decision to resume work on select infrastructure projects under its debt restructuring program. Only projects that are at least 70 percent complete have been approved for continuation, in a bid to maximise limited fiscal resources and safeguard value for money.
The Finance Ministry says the audit is intended to expose instances of financial mismanagement, procurement breaches, and unjustified payments, which could lead to sanctions, recovery actions, or legal proceedings.
Dr. Forson assured Parliament that a full report outlining key findings and recommendations will be submitted upon completion of the audit.
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