You are here: HomeNews2017 08 18Article 570828

Business News of Friday, 18 August 2017

Source: classfmonline.com

NIA owes GH¢4m

The report also said the Authority illegally used its internally generated funds to defray loans The report also said the Authority illegally used its internally generated funds to defray loans

The National Identification Authority (NIA), set up in 2003 at the presidency to issue national ID cards and manage the National Identification System (NIS), owes GH¢4, 132,795.00, the 2015 Auditor-General’s report has revealed.

The report also said the Authority illegally used its internally generated fund of $1.5million to defray loans contracted from CAL Bank through a payment arrangement which gave CAL bank the right to retain part of the NIA’s IGF.

“As a result, a total of GH¢1, 612,322.35 was retained from the IGF by the bank during the period under review as part settlement of the loan without parliamentary approval,” the report said.

The report said the NIA partnered with Identity Management Systems Limited to contract the $1,500,000.00 from CAL Bank for the purpose of upgrading its Central System Hardware.