The Ghana National Petroleum Corporation (GNPC), has refuted any wrongdoing following media reports that, there was a conflict of interest on the part of its CEO on the residential apartments acquired in Takoradi.

The state-owned enterprise in a statement indicated that the acquisition was done in a transparent manner devoid of any conflict of interest.

A memo that has gone viral on social media revealed that, the Chief Executive Officer, Dr. K.K. Sarpong, authorized the transfer of $7.5 million to a company he once worked for in 2017, Global Haulage Company Limited for the residential facilities.

The Minority in Parliament has raised concerns of conflict of interest because the former CEO formerly served as Chief Executive of Global Haulage Limited. But the GNPC in its statement said, ‘ “The attention of the Ghana National Petroleum Corporation (GNPC) has been drawn to recent publications and news items on the acquisition of residential properties in Takoradi.

The Corporation would like to set the records straight and to assure the general public that the Corporation acquired those assets in a transparent manner devoid of any conflict of interest. “It must be re-emphasized that due processes were followed at all times during the purchase of the property. There was no conflict of interest as is being alleged.”

GNPC in the statement noted that the purchased property by Global Haulage Company Limited (GHCL) was “selected for purchase after reviewing other offers.”