Institute Full Scale Investigation Into BOST Allegations


A full-scale independent enquiry must be set up to investigate reports of corruption against employees of the Bulk Oil Storage and Transportation (BOST) Company, this is according to the Managing Editor of the Insight Newspaper.

Kwesi Pratt said the revelations made in a comprehensive report prepared by Ernst and Young (E&Y), a renowned international accounting firm should not be taken lightly.

Speaking on Radio Gold’s ‘Alhaji and Alhaji’ programme, he said “a full scale independent enquiry” is the only thing that can establish the true facts.
A comprehensive audit report by E&Y on the BOST Company from 2006 has revealed massive corruption involving past and present officials of the company.

The report uncovered widespread corruption among senior BOST officials, some of whom still hold sensitive positions at various departments.

Officials of 16 Bulk Oil Distribution Companies (BDCs) were also fingered in the act.

The report described as deliberate activities of top officials at BOST who supported the BDCs to rob BOST of petroleum products at the depots.

This has led to significant petroleum product losses that affected the national strategic reserve of petroleum products.
Those acts have led to heavy financial losses to BOST and the state as a whole.

However the Chamber of Bulk Oil Distributors has rejected the accusations leveled against them.

Senyo Hosi, Chief Executive of the Chamber of Bulk Oil Distributors told Joy News the document the media relied on for their report was “totally doctored” and “fake”.

“I have every reason to suggest that none of the words reflect any audit yet to be commissioned,” he said.

Mr. Hosi said it would be impossible for the bulk oil distribution companies (BDCs) to overdraw from BOST under the period the disputed draft audit report claimed.
But Mr Pratt says the truth about the matter can only be known if an independent enquiry is made into the allegations.

He said the report is damning enough to thwart the efforts government is making to deal with corruption issues in the country.

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