The Management and Board of the Ghana Chamber of Bulk Oil Distributors(CBOD) has described as unfounded media reports that the chamber is involved in corrupt practices.
According to the Daily Graphic, a comprehensive report on the Bulk Oil Storage and Transportation (BOST) Company from 2006 has revealed massive corruption involving past and present officials of the company.
The report, prepared by Ernst and Young (E&Y), a renowned international accounting firm, reportedly exposed endemic corruption occasioned by collusion among senior BOST officials, some of whom still hold sensitive positions at the various departments, and officials of 16 bulk oil distribution companies (BDCs).
It further noted what it described as deliberate activities of top officials at BOST who supported the BDCs to rob BOST of petroleum products at the depots, leading to significant petroleum product losses that affected the national strategic reserve of petroleum products.
However a press statement issued by the BDCs said the report was “completely false.”
It said attempts “by perpetrators of the story to blend voice recordings of evidence given in camera at sittings by a committee set up by the Energy Ministry, to look into complaints by BDCs against some BOST officials, held 3 yrs ago, with an unrelated stock reconciliation audit is most disingenuous and unfortunate.”
The statement categorically emphasized that there has been”no fraud” on the part of the industry in their dealings with BOST and “neither has the industry connived with any officials to loot the coffers of the state.”
“We are by this appealing to all Bulk Oil Distribution Companies, oil financing banks and the public to remain calm in the face of these unfounded allegations,” it added.
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By: Marian Efe Ansah/citifmonline.com/Ghana