Former Finance Minister Dr. Mohammed Amin Adam has dismissed allegations that the New Patriotic Party (NPP) misused tax revenue funds while in office.
Speaking on Joy News’ PM Express on Monday, March 17, he defended the government’s handling of the tax refund account, stating that its use complied with legal provisions governing public funds.
“Well, I didn’t know what the Minister wanted to say because the tax refund account is part of government revenue, right? It’s always been part of government revenue collected by the Ghana Revenue Authority,” Dr. Amin Adam stated.
He explained that 6% of government revenue is earmarked for tax refunds, but any unused portion is legally absorbed into the government’s general revenue.
“It is set aside to pay tax refunds, and to the extent that part of it is not used for tax refunds, the law allows that to be used as regular revenue of the government,” he clarified.
Addressing concerns about possible fund mismanagement, he emphasized that Ghana operates a single Treasury account system, allowing funds to be moved as needed for government spending.
“You know that, as we say often, money is tangible, right? You move money around from different accounts because it’s a pool.
“We are running a single Treasury account system, so irrespective of what the account name is, the Controller General can fall on it when the need arises,” he explained.
When asked whether unused tax refund funds should be returned to the consolidated fund, Dr. Amin Adam reaffirmed that this was standard practice.
“But the consolidated fund is what I’m talking about. You have to spend it, and so I don’t know what the finance minister means by that. If it’s been spent, it has been spent,” he said.
He challenged critics to provide evidence of misuse, insisting the real question should be whether the funds were channelled through proper government accounts.
“Ask them if it was spent through the consolidated fund or not. Well, I’m waiting for them to come out with what they think we have spent it on,” he said.
Responding to claims that the funds were used to pay for state-awarded contracts, particularly SML, he noted that all government expenditures—including infrastructure and public services—are executed through contracts.
“But what is the consolidated fund used for? The fund is used to pay for the execution of contracts. All the projects that are being done across the country are done through contracts. And when the contracts are executed, they are paid for—the road contracts, services contracts, and others,” he stated.
Dr. Amin Adam’s remarks follow scrutiny over the NPP administration’s financial management, particularly regarding tax revenue. While the current Finance Minister has raised concerns over the use of the tax refund account, Dr. Amin Adam insists that the funds were legally utilized and accounted for.
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