The interaction included the following elements:
Boamah, MP Just one more query regarding his comprehension of Act 815’s Section 7 (2) (of the Petroleum Management Act)
Witness: With due respect, Mr. Chairman, Section 7 of the Act does not currently have a subsection ((2)) because it was changed in 2015 and has only one provision.
Later, the eight-member committee’s co-chairmen, KT Hammond and Dominic Ayine, as well as other members confirmed that the aforementioned statute had been altered and could no longer be relied upon to answer questions.
GNA’s Day Two sitting recap:
PIAC reiterated before the hearing that $100 million in petroleum lifting income was not paid into the Petroleum Revenue Holding Account in its 2021 report.
All petroleum earnings must be paid into the Petroleum Holding Account, Mr. Nasir Alfa Mohammed, Vice Chairman of PIAC, reaffirmed, in accordance with the Petroleum Revenue Act.
PIAC attended the Committee meeting to address Ground Three of the Minority Caucus Motion, which asserted that oil money had been illegally transferred to foreign accounts in contravention of Article 176 of the 1992 Constitution.
While PIAC is an independent statutory body tasked with promoting transparency and accountability in the management of petroleum revenue in Ghana, GNPC is the state agency in charge of exploration, licencing, and distribution of operations linked to petroleum in that country.
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