By Edward Acquah, GNA
Accra, July 17, GNA – The Controller and Accountant-General’s Department (CAGD) has dismissed claims that Government has spent almost GH¢11 billion on the Accra-Kumasi Expressway before construction began.
A statement shared with the Ghana News Agency (GNA) said the claims circulating on social media were based on “a misunderstanding of Government accounting procedures.”
The statement, issued on July 16, 2026, and signed Mr Cephas N. Dosoo, Head of Public Relations, CAGD, explained that the funds earmarked for the project remained in a dedicated Bank of Ghana account and had not been paid to any contractor or used for construction works.
It said following Parliament’s approval of the concession, Government allocated proceeds from the Annual Budget Funding Amount (ABFA) and mineral royalties in the 2025 Budget to finance the project through the Accra-Kumasi Expressway Limited, a Special Purpose Vehicle established by the Ghana Infrastructure Investment Fund (GIIF).
“The CAGD wishes to emphasise that these funds have not been paid to any contractor or spent on construction works. They remain in the dedicated Bank of Ghana account pending project execution,” the statement said.
It noted that the ongoing right-of-way clearing by the Ghana Armed Forces was a separate preparatory activity and was not being financed from the allocated funds.
The Department explained that under Government accounting rules, transfers from the Consolidated Fund to government entities outside the Central Government accounting group are recorded as grant expenditure in the books of Central Government and as grant revenue in the books of the receiving entity.
It explained that the accounting treatment did not mean the receiving entity had spent the funds, adding that the same principle applied to transfers made to institutions such as the District Assemblies Common Fund, GETFund and the National Health Insurance Authority.
“It is therefore incorrect to conclude that because the transfer appears as expenditure in the accounts of Central Government, the funds have already been spent on the construction of the Accra-Kumasi Expressway,” the statement said.
The CAGD assured the public that the accounting treatment applied to the project was fully consistent with Ghana’s Public Financial Management framework and established Government accounting standards.
GNA
Edited by Linda Asante Agyei
Reporter: Edward Acquah
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