In statement issued in Accra by Corporate Affairs Department, the GNPC said in 2017, a search for suitable office and residential accommodation for staff in Sekondi-Takoradi became necessary and was initiated, following a decision to relocate GNPC’s operations to the Western Region.

It said towards this end, the needed funding was provided in the 2017 Budget of the Corporation.

It said the Board of Directors of GNPC decided to purchase property instead of renting and accordingly, the Board of Directors set up a Committee comprising some of its members and management to identify and negotiate the purchase of suitable property.

“The Chief Executive, Dr K.K. Sarpong was not part of the Committee,” it added.

The statement said the property offered by Global Haulage Company Limited (GHCL) was selected for purchase after reviewing other offers.

“This property consists of a mix of two and three bedroom flats/bungalows totalling eighteen (18) units and ancillary facilities,” it said.It said GNPC commissioned a valuation of the GHCL property by Architectural and Engineering Services Limited (AESL), who put the valuation at 7.23 million dollars, where GHCL also provided a valuation of the property by Nana Kumi and Associates amounting to approximately 8.2 million dollars.

The statement said following a series of meetings with the vendor, the Committee arrived at a purchase price of 7.5 million dollars and recommended same to the Board of Directors for approval.

It said at its meeting of November 9, 2017 the Board of Directors considered the committee’s report, including the underlying valuation reports and approved the purchase of the GHCL property at the recommended price of 7.5 million dollars.

It re-emphasized that due processes were followed at all times during the purchase of the property and that there was no conflict of interest as is being alleged. The statement said Dr Sarpong declared his interest deriving from his past association with the Global Haulage Group and recused himself from the Board Committee’s work and discussions relating to the approval for the purchase of the property.

“It is on record that prior to joining GNPC in January 2017, Dr Sarpong, had terminated all official association with the Global Haulage Group and its related companies in November 2016,” it added.

It said following the Board’s approval, a Sale and Purchase Agreement was duly executed on December 22, 2017 and a request for payment was subsequently received from the vendors, GHCL.

It said, “In processing the request for payment, our Internal Audit team requested for the duly executed Sale and Purchase Agreement but it is not immediately available because the Lawyer, who had the agreement had taken a vacation. It is under these circumstances that payment was made, acknowledging the fact that the Sale and Purchase Agreement had been duly executed.”

It said the Chief Executive felt rightly so, that the Corporation should not delay the legitimate payment to GHCL because their Lawyer was absent and could not produce the documents.

The statement said payment to GHCL after withholding tax was made in three instalments: 3 million dollars on December 29, 2017, 2 million dollars on January 3, 2018, 2.275 million dollars on January 12, 2018.

It said it must be placed on record that the total payments made to GHCL, including withholding tax was 7.5 million dollars and not 9.5 million dollars as alleged. It said eventually, the agreements, which were in the custody of the Lawyer were submitted to Internal Audit Department and this enabled them to complete a post-audit without any adverse findings.

“While we assure all Ghanaians that the finances of GNPC are being prudently managed, we wish to appeal to the Media that efforts should be made to ascertain the facts of a matter before any needless sensation is caused among the public,” it said.