{"id":255221,"date":"2016-10-05T18:07:32","date_gmt":"2016-10-05T18:07:32","guid":{"rendered":"http:\/\/citifmonline.com\/?p=255221"},"modified":"2016-10-05T18:07:32","modified_gmt":"2016-10-05T18:07:32","slug":"us504000-for-gold-watches-spent-on-deserving-staff-bog","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2016\/10\/us504000-for-gold-watches-spent-on-deserving-staff-bog\/","title":{"rendered":"US$504,000 for gold watches spent on ‘deserving’ staff – BoG"},"content":{"rendered":"
The Bank of Ghana (BoG) has denied claims it engaged in frivolous spending following reports that it blew US$504,000 on gold watches, explaining that the expenditure formed part of its policy to reward deserving staff.<\/p>\n
The BoG in a statement also assured that no procurement rules were breached in presenting sole sourcing justification to the Public Procurement Authority (PPA) for approval.<\/p>\n
Some documents sighted in some media reports indicated that on July 22, 2016, the central bank sent a request to the Public Procurement Authority (PPA) to sole source the procurement of gold watches from a\u00a0Swiss watch company.<\/p>\n
The request letter indicated that the BoG intended to use part of its 2016 budgetary allocation to fund the procurement of 24 units of 18 carat ladies gold watches and 48 units of gents gold watches; all Tissot Gold Watches from a dealer.<\/p>\n